l0rens
06-10-2008, 06:20 PM
I was talking to my insurance agent and I mentioned how much I've got tied up in my hobby. Hard to believe, but I've probably got $25,000 to $30,000 tied up in my planes and related equipment.
My agent recommended that I schedule this stuff and pay an insurance premium of about $1.00 for every $100.00 in value to get coverage for fire, wind or theft. ($250-$350 a year!) I definitely want that coverage but he showed me where my policy specifically excludes Aircraft of any kind. He said other policies may clarify that model aircraft are covered I asked him to see what it would cost to go to one of those companies.
He suggested I check with other people in the hobby to see what they do for insurance and find out if anyone knows of an insurance broker somewhere who specializes in the particular needs of people like me. Any suggestions?
My agent recommended that I schedule this stuff and pay an insurance premium of about $1.00 for every $100.00 in value to get coverage for fire, wind or theft. ($250-$350 a year!) I definitely want that coverage but he showed me where my policy specifically excludes Aircraft of any kind. He said other policies may clarify that model aircraft are covered I asked him to see what it would cost to go to one of those companies.
He suggested I check with other people in the hobby to see what they do for insurance and find out if anyone knows of an insurance broker somewhere who specializes in the particular needs of people like me. Any suggestions?