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Insurance Rates - A fun little rant of mine

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Tim(at)MyRV10.com
Guest

Posted: Wed Sep 13, 2006 10:41 am Post subject: Insurance Rates - A fun little rant of mine

I just got another mailing from Avemco soliciting me for insurance

from them.  I've been tossing them out, but I thought that maybe

this time I'd stuff the envelope with something that hopefully

will eventually make a difference.



So here's what I put in it...I had fun writing it.



---



9/13/2006



Avemco Management,



I am writing to you to inform you that it is a waste of time to solicit 

me regarding insurance for my plane, an experimental RV-10.  After 

receiving a couple of verbal quotes before I completed my plane, and 

hearing about other RV-10 builders experiences with quotes on their 

RV-10’s by Avemco, you guys have quickly become the laughing stock of 

the RV-10 insurance market….a market that is considerable.  There are 

now well over 625 RV-10 kits sold, and over 50 flying.  Mine is up to 

138 hours of trouble-free operation, and there are other builders with 

over 300 hours.  These aircraft have a typical hull value of between 

$120,000 and $200,000, and should have been a great potential market for 

any insurance company.  They are built from kits from a highly reputable 

kit company, they are generally built with fairly high building 

standards, and they are a very well handling and performing plane.  I 

myself am very active in the RV-10 builder community and I thought it 

worth while to pass this feedback to you, as perhaps once you come to 

the realization that you are completely out of your minds on insurance 

rates for these planes, things may eventually be changed.  My initial 

quote from you was for $4,900, which is well over $1500 more than I 

ended up paying through alternate insurers.



So you can kindly take me off of your mailing list until such a time 

that your rates reflect the current realities of today’s market for 

these planes.  It would be very nice if we could see competitive rates, 

such as $150,000 hull value for under $2,500/yr, but until then, you’ve 

really lost this entire market.



Sincerely,



Tim Olson



-- 

Tim Olson - RV-10 N104CD - Flying

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bcondrey

Joined: 03 Apr 2006
Posts: 580

Posted: Wed Sep 13, 2006 10:49 am Post subject: Insurance Rates - A fun little rant of mine

Very well done, and entertaining!



Bob



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Jack.Phillips(at)cardinal
Guest

Posted: Wed Sep 13, 2006 10:49 am Post subject: Insurance Rates - A fun little rant of mine

Good one, Tim.



Just keep racking up the hours on your bird, safely, and maybe they'll

come to realize that these planes are not a bad risk.



Meanwhile, I'll probably continue to go with Falcon.  I used to insure

with Avemco but they priced themselves out of my reach years ago.



Jack Phillips

#610

Plugging away on the Horizontal Stabilizer



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jeff(at)westcottpress.com
Guest

Posted: Wed Sep 13, 2006 11:17 am Post subject: Insurance Rates - A fun little rant of mine

Three Cheers for Tim!!!



Do Not Archive



Jeff Carpenter

40304

Flaps

On Sep 13, 2006, at 11:40 AM, Tim Olson wrote:



 	  Quote: 	
		   



 I just got another mailing from Avemco soliciting me for insurance

 from them.  I've been tossing them out, but I thought that maybe

 this time I'd stuff the envelope with something that hopefully

 will eventually make a difference.



 So here's what I put in it...I had fun writing it.



 ---



 9/13/2006



 Avemco Management,



 I am writing to you to inform you that it is a waste of time to  

 solicit me regarding insurance for my plane, an experimental  

 RV-10.  After receiving a couple of verbal quotes before I  

 completed my plane, and hearing about other RV-10 builders  

 experiences with quotes on their RV-10’s by Avemco, you guys have  

 quickly become the laughing stock of the RV-10 insurance market….a  

 market that is considerable.  There are now well over 625 RV-10  

 kits sold, and over 50 flying.  Mine is up to 138 hours of trouble- 

 free operation, and there are other builders with over 300 hours.   

 These aircraft have a typical hull value of between $120,000 and  

 $200,000, and should have been a great potential market for any  

 insurance company.  They are built from kits from a highly  

 reputable kit company, they are generally built with fairly high  

 building standards, and they are a very well handling and  

 performing plane.  I myself am very active in the RV-10 builder  

 community and I thought it worth while to pass this feedback to  

 you, as perhaps once you come to the realization that you are  

 completely out of your minds on insurance rates for these planes,  

 things may eventually be changed.  My initial quote from you was  

 for $4,900, which is well over $1500 more than I ended up paying  

 through alternate insurers.



 So you can kindly take me off of your mailing list until such a  

 time that your rates reflect the current realities of today’s  

 market for these planes.  It would be very nice if we could see  

 competitive rates, such as $150,000 hull value for under $2,500/yr,  

 but until then, you’ve really lost this entire market.



 Sincerely,



 Tim Olson



 -- 

 Tim Olson - RV-10 N104CD - Flying

 do not archive

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

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GenGrumpy(at)aol.com
Guest

Posted: Wed Sep 13, 2006 6:20 pm Post subject: Insurance Rates - A fun little rant of mine

Amen!!!!

  

 Grumpy 40404

  

 do not archive

  [quote][b]

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Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

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Ray.R.Doerr(at)sprint.com
Guest

Posted: Thu Sep 14, 2006 5:42 am Post subject: Insurance Rates - A fun little rant of mine

Tim, that was a great letter.  



	You could have told them about my quote from them.  It was $9,500 for $150,000 haul while others were in the $4,500 to $5,500 value for the same thing.  Also worth noting is that AIG was covering it right from the first flight while others wouldn't until it had 10 hours.



Thank You

Ray Doerr

N519RV - 130 hrs.

IFR Pitot Static check completed yesterday.  Clouds, here I come!



--

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