Insurance in Alaska

[Mike Kimball]

I've been following this story, especially the "if your going to Alaska it's
going to cost you more" part. It's looking likely that I will be performing
first flight, and subsequent flights in my SR without hull insurance. I
only hope I can get liability at a price like the $573 that Ted got so I can
legally leave the state some day. I also hope I don't screw up and ground
loop or something. At least Chris Gill tells me that the SR is a pussy-cat
taildragger. And I believe Chris was new to taildraggers except for a few
hours training getting ready for his first flight.

Mike

-----Original Message-----
From: mike.davis@dcsol.com [mailto:mike.davis@dcsol.com]On Behalf Of Ted
Waltman
Sent: Monday, May 16, 2005 6:37 AM
To: Murphy List
Subject: Ah, Insurance, the rest of the story
Importance: High


Or should the Subject line be: "Wayne, you were right"

Seems the insurance company is now claiming they made a mistake on the
quoted hull value. Agent quoted my asked for $160K; Insurance company
quoted $100K. You can read the details below; seems an honest mistake,
but HACKS me off on the principal of it now. I don't know what I'm
going to do...either just get liability and tell the insurance company's
of the world to kiss off, or try to negotiate with them for a total
package deal including the proposed Alaska flight. Have to put my
thinking cap on...

Ted


-----Original Message-----
From: Baxter Allen [mailto:BAllen@falconinsurance.com]
Sent: Monday, May 16, 2005 8:29 AM
To: tedwaltman@i1ci.com
Subject: Waltman, Ted (N142SR)
Importance: High



Good morning Ted,

As you are aware, we have bound coverage for your 2004 Murphy Moose,
N142SR, effective 5/5/05. So this email does not affect your coverage,
that is secure. However, we did run into some unusual circumstances on
your binder and I wanted you to be aware of them.

We requested a quote for $160,000 in our initial fax request to the U.
S. Specialty Insurance Company on 3/17/05. At that point we had a
problem with our outgoing fax machine and we were not aware of it.
There was a white line that occurred right in the middle of the Hull
Value of the Aircraft. We requested $160,000; however, the Underwriter
read it as $100,000 and believed that they were quoting at $100,000(copy
attached).

On 5/5/05 Belinda Castillo faxed a request to USSIC to bind coverage
efffective 5/5/05 for a Total Annual Premium of $3,343. Again, we
intended the hull value to be $160,000 with a hull premium of $2,770
plus a liability premium of $573. USSIC received the request and read
it as a request to bind coverage at $100,000 for a hull premium of
$2,770 plus a liability premium of $573. When the file was audited
during the policy set-up, USSIC found the discrepancy between our
request to bind at $160,000 and their understanding that they were
binding at $100,000.

It is an honest mistake and a unique one to me even after some 14 years
in this business. We are providing you with copies of our documentation
so that you can see for yourself that this was an honest mistake.
Obviously there is a difference in premium between $100,000 and $160,000
and USSIC has advised that the full hull premium for the difference
would be $1,502. However, since it is an honest mistake, USSIC is
willing to absorb one-half of the difference and will agree to cover the
full $160,000 hull value for an additional $751 provided that we can
validate the full $160,000 value. USSIC has directed us to the Murphy
Aircraft Mfg., Ltd website
(www.murphyair.com/product_Info/Super/compare.htm) where the basic
Murphy Moose is listed with a price of $100,000. Therefore, they have
requested that we provide them with information that will justify the
requested hull value of $160,000.

USSIC would probably accept an equipment list; or, if you have a sales
listing for the aircraft (which had been put on-line by Mr. Brent Brown)
that may very well suffice. Please expedite this request so that we can
get this matter settled for you and get an amending endorsement issued
by USSIC.

We will invoice you tor the additional premium of $751 when we receive
the endorsement from USSIC. We sincerely apologize for this mistake and
for any inconvenience this has caused you.

Best regards,

Baxter Allen





-----------------------------------------------------------------
List archives located at: https://www.dcsol.com/login
username "rebel" password "builder"
Subscription services located at:
https://www.dcsol.com/public/code/html-subscribe.htm
List administrator: mike.davis@dcsol.com
-----------------------------------------------------------------






-----------------------------------------------------------------
List archives located at: https://mail.dcsol.com/login
username "rebel" password "builder"
Unsubscribe: rebel-builders-unsubscribe@dcsol.com
List administrator: mike.davis@dcsol.com
-----------------------------------------------------------------