Primarily for general aviation discussion, but other aviation topics are also welcome.
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By Boswell
FLYER Club Member  FLYER Club Member
#1846062
For some reason (and I can see plenty) the premium differential between the 'legacy' brokers and 'newcomers' is particularly stark this year; at least, in our case (4-member group, LAA Permit).

Premium cost isn't the only factor, I realise. New-for-old and 'betterment' can be appealing; flexibility to change to ground-cover-only during Covid restrictions also; some sort of no-claims bonus as well.

Has anyone claim experience with FlyCovered or the 'exclusive' LAA French cover?
By MikeW
FLYER Club Member  FLYER Club Member
#1846076
No claims experience, but a couple of comments.

My renewal quote on the LAA scheme, with the self repair option discount, is up up about 12% on top of about 15% last year. Disappointing.

Betterment (they call it new for old) cover on the LAA scheme doesn't cost much extra but it doesn't actually guarantee new for old, it gives them the option of replacing the written off item with one in similar or better condition i.e. used.

Flycovered don't offer betterment cover according to their FAQ page.

Visicover's betterment option excludes any item that is already beyond official service life. "Note any unit whose hours have exceeded the manufacturers prescribed life are excluded from the protection provided by the betterment section." I don't know how this would be interpreted for an engine running quite legally "on condition". Also does life mean both operating hours and calendar years, whichever is exceeded first? The LAA term doesn't seem to have this limitation (but I am not a lawyer!)
By MikeE
FLYER Club Member  FLYER Club Member
#1861543
Looking to renew cover on our Pup in a couple of weeks and wondered if anyone had any thoughts about companies/policies/premia this year?

I have checked Visicover (highest quote to date) and Flycovered (not much different to last year) and await quotes from Traffords and Haywards. Has anyone any experience of others I could approach, please?

Best wishes

Mike
#1861546
We changed to Flycovered last year: Our previous insurers reduced their quote but were still £400 adrift so group voted to change.

This years flycovered quote sent to me (as gp sec I have been getting quotes for 12 years) was £200 less than last year.

But as part of my 'load-shedding', the insurance of aeroplane and airfield was passed to another member this year.

When he came to renew, the flycovered quote had mysteriously gone up by £200 from the quote sent to me a month earlier.

No amount of phone calls or emails could elicit an explanation, or a re-instatement of the first quote.

Work that out.....
MikeE liked this
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By muffin
FLYER Club Member (reader)  FLYER Club Member (reader)
#1861679
I have just been through this exercise for my helicopter. Visicover is up 18% on last year, Traffords don’t insure helicopters any more, Sydney Charles did not even bother to answer and Haywards could not get near the Visicover price. I am over the age limit for Flycovered so Visicover it is again. Which I am actually pleased about as their service and customer response is excellent.
MikeE, 2Donkeys liked this
#1861691
Visicover came out around £150 more than the other two I tried.
LAA/Air-Courtage and Flycovered were about the same. The main way to get the LAA/Air-Courtage quote reduced by £250 was by ticking the 'I'll repair it myself" box. They confirmed that I would have no choice in deciding what I could repair myself (so I'd end up paying someone else to do anything more than minor repairs). It wasn't worth the risk.
I went with Flycovered because of the three different methods (two involve paying by the day) of paying for the cover (the annual cost is the same which ever method you choose) but it's a pain in the **** to remember to 'buy days' and then book the day to fly (two separate stages). It depends on an internet connection (webpage - no app) to purchase and book and you could be doing this with poor mobile internet on a small phone on a strip, and you need your password, postcode, pass a security image test, and later you'll need a PIN code.
MikeE liked this
#1861703
muffin wrote: ......so Visicover it is again. Which I am actually pleased about as their service and customer response is excellent.

My experience also whereas the aviation knowledge and customer response of some I have used in the past has reduced. I think Visicover are now one of the established players and long may they continue.
Nick liked this
#1861813
I'm due to renew mine today, so have been out for quotes.

two finalists out of four, Visicover and Flycovered, their platforms give you the option to thrown in a few "what ifs".

If I'd managed to fly the 2 hours I wanted this week, I would have hit an hours milestone that would have saved me £112 with flycovered! damn weather, damn covid lockdowns! I'm not sure 2 hours will improve my skill set that much though.

On Visicover, if I reduce the hull value down to the minimum £2000, it suggests the premium on hull value is around 2.3%. Assuming a 15% profit margin, does that suggest they think I have a 1 in 50 chance of writing it off in the next year? :shock: For once, I'm hoping they are working on a huge margin, if I honestly thought my odds were that low, I'd stop flying.

I think either we are getting fleeced, or there must be some significant claims going through.
#1861817
I have looked into LAA/Air Courtage Insurance scheme a couple of times but they are usually quite a lot more expensive than Visicover for conventional cover and the DIY option all sounds a bit iffy to me.

The problem with the Air Cortage DIY option as I see it is is if your 'occurance' happens a long way from home base i.e middle of France for example. The cover does not include recovery to your home base in order for you to repair yourself it, it only includes transportation of the aircraft to the nearest 'suitable' repair facility. Carrying out repairs to your aircraft yourself a long way from home is not an option I would want to do and transport back to your home base would be at your expense I understand.
So the DIY option sounds all a bit to problematic in the event of an accident to me.
If I have an accident I just wanted it sorted as fast as possible and not have to fight and argue the toss with a Loss Adjuster.

Fly Covered don't do betterment as others have said.
By MikeE
FLYER Club Member  FLYER Club Member
#1862032
Many thanks everyone. Quotes have risen significantly since last year (and just about doubled from the year before). One insurer said that fewer underwriters were prepared to take on GA risk so I wonder if there has been a substantial rise in the number or cost of claims. Still waiting for a couple of quotes with fingers crossed....

Best wishes

Mike
By Lefty
FLYER Club Member  FLYER Club Member
#1862068
In an average year there is always a spike in claims at the end of the winter lay off - as all the “out of currency” pilots and unused aircraft return to the skies.

Because of COVID, in the last 15 months there were at least two, and possibly three such spikes as rusty pilots and a/c returned to the air after lockdowns. According to my broker, there has in fact been nearly a 250% increase in claims over the past 15 months - which is why the underwriters are pulling out of insuring GA.