I was reading my Avemco insurance policy the other day and noticed that they drop coverage past 67 degrees north latitude. This means anyone flying north of the Arctic Circle has no coverage. Does any insurance companies cover north of the Arctic circle? Crash
Crash,
Yes, many of them do. This has been an Avemco provision for years, and one of the several reasons I don't insure with them.
AIG, USAIG both cover operations north of 67, if you tell them up front you live in Alaska. I use Falcon for a broker, but any of the brokers around can get you coverage there.
MTV
Thanks Mike. Looks like I need to shop around. Crash
I get mine from Mike Kardatzke in Soldotna. www.avinsak.com Cheep and coverage is from the Mexican border all the way to the Arctic Ocean.
The man in red is self insured. Couldn't find hull coverage for those rather ancient and rickety reindeer.
Also, his sled has been highly modified, and as a consequence, it no longer can pass an annual inspection, opening him to all sorts of legal consequences.
He lives north of 65, so he's a bandit, of course.
MTV
Yes it's an Antique, But I am Sure he has an Experimental Placard with Limitations on Night time Flight Only, and Unlimited Weight Restrictions... I've Wondered About His Engine Power Limits?...
Champdriver...
Santa don't need to worry, isn't the North pole south of Fairbanks?
S.
Crash,
I thought I remembered that AVEMCO did away with that on my policy. I checked my policy and there is no restriction. I just called AVEMCO and talked with them and they said if you live in Alaska there are no restritions for flying anywhere in Alaska. They did say if you live in the lower 49 then there are restrictions to flying north of 67 degrees. I guess they figured those city folks might get lost up north.
Okay so I am trying to insure a cub worth $65,000 in Alaska. I live North of 67', want to use skis and fly off-airport, hunt, fish, blah, blah. Who should I call. Avemco quoted $2400 yr, what ever that means, haven't seen the policy yet. Gosh any luck with anyone in particular?
Sorry guys rates are going through the roof soon, nut ball with cub inbound to a adjuster soon.
Might want to reconfirm with Avemco - they modified my policy when I wanted covereage N of Fairbanks. It was pricey, but they did it over the phone in about 10 minutes.
Speedo
Mike K in Soldotna. Alaska Aviation Insurance,
He is a good guy and he beat avemco for my buddy Night Water Approach Deloach on his C-210
My AVEMCO guy (Steve Kroh) works with me, and is able to re-arrange most stuff for not much more money. My problem is that I'd like to do limited taildragger checkouts. AVEMCO considers that commercial, and won't touch it.
By the by, my health insurance ($5000 deductible) is now $460 some a month, far exceeding any other single expense that I have. Soon I will have to come out of retirement just to pay that!
Oh, Bob, please don't get us talking about what percentage of our gross incomes goes to the insurance industry.
That has got to be one of the most depressing statistics there is. There's homeowner's, car, motorcycle, aircraft, flight instructor's, health, life, and my wife keeps talking about dog health insurance.
Sheesh!
MTV
Supercubber,
She'd shoot me first. That's a no brainer, though.
As to deductable, its been so long since I could actually afford hull coverage that I wouldnt have any idea.
When you say the words "Alaska", "seaplane" "commercial" and "insurance" in the same paragraph, insurance companies' cash registers just go into spasms of ringing. Kaching, kaching, $$$$$$
I do know that theoritically, the big issue on costs to insure up north is the cost of retrieving a wrecked or damaged aircraft. It almost always requires a helicopter, and most landowners aren't real enamored with us just leaving wrecked aircraft laying about the tundra, so the insurance has to recover it, even if it's totalled.
MTV
My AVEMCO policy does not have any restrictions north of 67, but the standard "Lower 48" main policy language does. Look in your amendments, and if you don't see it there, call AVEMCO and get it added if you need it. I pay less than what some have quoted for coverage, Alaska Statewide, all off airport is covered, hull at $70k. AVEMCO is real good about taking things on and off, so you could probably make a quick call and add it for a short time if you were going to make a trip and they wanted extra premium for it. Why carry extra coverage if you were just going on a single or occasional trip? However, I do not remember being told there was extra premium for full Alaska coverage. Now north of 72 might be a different issue!!
=========
PA-12 fan
I am paying almost $2,800.00 a year to Avemco for the PA-18 with $100K hull coverage. I wonder if my handle has anything to do with that? Crash
Alex,
Do you by chance have Mike K.'s number? I think I met him four or five years ago on the way to Bethel; he did seem pretty down to earth.
mghallen,
When you come to town next week, bring something good to drink over to the house. I don't like the cheap stuff. That is unless I am buying.
Terrific, Lars and I will be in around the 22nd to pick up the plane, and shop and recurrent spin testing at Pikes.
P.S. wanna buy floats?
Mike,Originally Posted by mghallen
You and Lars have to come over for dinner. Give me a call when you get to Fairbanks. KEEP THE DAYUM FLOATS. You will never regret it.
The Torch
Crash,
Mine is similar but it goes up in the summer a bit when I am on floats.
My PA-14 was quoted at $10K per season on floats or $2,800.00 on wheels for the same $100K hull value. Needless to say, it flys with no insurance. Crash
Crash,
Mine is similar but it goes up in the summer a bit when I am on floats.
I looked at my avemco insurance paperwork and it doesn't have any exclusions for the arctic circle either.... I know that they have had restrictions up there in the past.... I think it might have had something to do with the high cost of retrieval. The thing I like about Avemco is I can drop the policy in the winter when I'm working alot and the airplane is safe inside a hangar than pick it up just as easy when spring hits and the days are longer..... I payed about $183 a month last year or about $1300 for my flying season....Insured value was $75,000... Thats pretty close to what I am paying for my vehicles... Too much work to fly in the winter and I am out of town alot in the winter anyhow.... The other thing that is nice about avemco is changing from floats to wheels is a snap with just one phone call.... I have dealt with Mike K. in the past and he does a good job if you want to try someone else.... Mike does have a tendency to try and sell you something you don't want.... that has actually slowed us down in working with him in the past.... Good Luck....
Crash,
I would change your handle!! I have had good experience with Avemco, and with your hours you should too? When I wrecked my cub in 95 they came through for the cost of retrieval (with no hull insurance) based on the "liability risk" that the wreckage was to the "environment"
From what you guys in Alaska are paying it is obvious that coverage has increased considerably since I left in 92, but hey, still not as prohibitive as some places (like Canada, Europe, and other places that there is no private A/C flying period!
I pay $1500 for $75k coverage on my PA-12, it does have a limit of 67 degrees N. (however It can be extended as suggested for 'trip coverage' for a limited period of time.
Regards,
Tim
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