H123 - No. It works on the basis of a hull value. If the insurer writes-off the machine as an economic loss they pay the agreed value and the wreck becomes theirs. They then put the wreck out to sealed-bid and sell the salvage to recoup as much of their loss as possible. Although extensively damages, G-FEDA had a lot of avionics etc that were undamaged and the engine core is (I understand) OK too.
Insurance through Haywards - can't fault them at all.
New machine insured through Haywards also. There isn't a price hit but underwriters have included restrictions - minimum experience. Not a problem for me but strongly suspect I should not make a habit of losing machines / claiming. Insurance comes live Friday when I hope to bring the new ship home.
HMM - that gap in the hangar will soon be filled!
John