Microlighters

My trike insurance is due for renewal. After having paid the preposterous amount of over R1K per month for insuring the new zu-dve, I have now have added 185 hours experience, and still Dennis Jankelow quote me over R1K per month for insurance.

They do not consider the experience important, and (still) do not consider the use of a ballistic parachute as a reason for dropping my monthly premium.

What insurance company do you use? What are the alternatives?

A year ago a new microlight insurance was mentioned by someone on this forum (and other lists), what has happened to this.

Gert this is insane Although my CII is only insured for R100k my instalment is less than R500/m, also DJ.

It seems they reckon that you ARE going to make an accident sometime and the MORE you fly the BIGGER the chances and therfore the HIGHER the risk and the premiums.

Let us know if you find a suitable alternative.

GREAT post!
I as well as everybody else are waiting in great anticipation on answers.
My trike is tans net verseker in die hanger vir brand en as ek hom sleep op die treiler. Verder vat ek maar n kans, maar R1000-00 n maand weier ek om te betaal. Dis n beginselsaak. Al is ek dalk "stupid". Not n m*@r!

Gert, I walked this path too.

Eventually forced my broker to study up his fu#@%6in profession and get back to, potentially couple hundred new clients.

My conclusion was the insurance racket is run by a handfull of bean counters who would happily use some arbtitory statistic, load like hell and however grabs the bait is a bargain. They don't want to understand ballistic chutes and experience and besides, you must be able to afford it coz you're a pilot.

Cancel the insurance. If you bought on credit, dump it anyway.

Rather use that to load on life and 3rd party cover. Your trike is not going to get swiped, the chances of fire is close to zero and if a serious wipe -out, well that's the least of your worries.

Estimate your depreciation over the year, add your 12 grand premiums you've paid and you could have bought into a serious share in a hangar. Better still, put that to your next upgrade

Maybe some qualified broker on the forum can present us all with a great sales pitch.

I agree with Delta VV, It is insane to insure at that rate. Take your 12K a year and put it to better use. I don't have insurance on AUK, I know it is a risk but it's completely paid off and I am prepared to take the chance.

I also agree. R1K per month is too much! Rather save it for the minor repairs that might be necessary...

dump the insurence , in my experiance , theyare nt going to pay anyway. Send me the 12 big ones a year I can spend nicely. Why doesnt someone involved in both industries concock a simple yet affordable insurence, or is it not possible at all?

my 2c

Why don't we start our own fund? R200 per month - DH goes and does a silly engine out and he slams his pride and joy into the deck - DH - you are an a-hole - you deserve to pay for repairs, Morpheus has an unexpected engine out over Blouberg beach - turns out he had legitimate probs and we help him repair his joy.

You're not alone on the dark side! In "Read the fine print..." Iceman voices his opinion and tells it like it is...

DarkHelmet wrote:Why don't we start our own fund? R200 per month - DH goes and does a silly engine out and he slams his pride and joy into the deck - DH - you are an a-hole - you deserve to pay for repairs, Morpheus has an unexpected engine out over Blouberg beach - turns out he had legitimate probs and we help him repair his joy.

Interesting idea, the big problem, is finding someone honest enough to manage it, perhaps a trust account?

I only have 3pty to cover anything happening on our hanger that could lead to wipe out of a couple of Mils worth of kit. Otherwise screw it!

I boought my trike about 2 months ago , was going to finance but then changed my mind after being told that i have to take insurance. I was also quoted one stupid amount. decided to take a little extra on the bond and pay for the trike cash that way. But now I decided to tell My life insurance company the truth about me flying and i have been nailed big time on that side. i guess there is no winning !!

How much did your monthly life insurance premiums increase?

Griffin wrote:How much did your monthly life insurance premiums increase?

viewtopic.php?t=1645

Griff, me also got nailed, see previous topic.

Eyetie, if you took up aviation and had existing life insurance in place you should not get any penalties/premium loading. However, if adding to your life insurance after you took up aviation, you'll get nailed.

Consider a seperate policy that excludes cover for aviation

Good luck.

Gert what is your excess with that premium.

The dealing I have had with DJ, is that most excesses start at R20-25k. That means if you have a wipe out in year 1, the damage will have to exceed R32k before it has been a worthwhile exercise in insuring it.

In year two, you are now at R44k. Year three R56k

There are few incidients that I have heard of with that type of damage. In fact I have only hear of 1 such accident in the last decade.

So what I am suggesting is - self insurance. Well at least in the absence of more affordable options.