Aircraft Insurance

[LowNSlow]

I am in the process of renewing my insurance and have been told that my previous 0.5 million quid cover is now a COMPULSORY 1.5 million. How the Hell did EASA slip that one in without me noticing? :* Not a problem really, it only adds 30% onto my insurance costs......... :ouch: :ouch:

[TheOddOne]

Well, actually, I believe it's been well publicised in the aviation press - not that it's compulsory to read any of it, of course, but it's not the sort of thing that you'd find out about otherwise. I'm a bit surprised your broker hasn't been keeping you up-to-date, though, and advising you previously to carry more.

Of course, you can never be over-insured for 3rd party risks. It's easy to imagine how the bill can leap over 1.5 mil or 15, or 150...
but I'd say that even 1.5 is a little on the low side. We carry £3million 3rd party and £7.5million Crown Indemnity on our PA28, considering this a reasonable balance between cost and cover.

Cheers,
TheOddOne

[Rod1]

The actual requirements, coming into force on 30th April, are:-

Aircraft under 500kg MTOM 0.75m SDR

Aircraft 500kg - 1000kg MTOM 1.5m SDR

Aircraft 1000kg - 2700kg MTOM 3.0m SDR

All aircraft over 500kg MTOM will have to have war and terrorism cover.

Passenger Insurance is set at 250,000 SDR per passenger, but individual states may opt for the lower limit of 100,000 SDR per passenger.

1 SDR = about 50p

[LowNSlow]

TheOddOne 3 mill is reasonable if you are in a group or regularly carry passengers. I've only got one passenger seat in my Auster which is usually occupied by my 6-year old daughter who, hopefully, won't sue me!

Adding a third to the insurance cover has subsequently proved to be a bit of an exageration, it is more like 20% so not quite as bad as initially expected.

[DubTrub]

LNS A search of "Insurance" within "Private Flying" might also offer more insight into others' experiences.