Insurance Question

[valve guide]

In looking at purchasing an R44 I am wondering about insurance and my questions are as follows. The machine favorite at the moment has 6 years and 450 hours left which for me as a private pilot is fine. I have the cash to buy it and a spare amount for some unforeseen problems which may arise in the future. In looking at insurance, lets say I damaged the blades, the insurance would only pay an amount to the value of the hours on the blades and I would be left to pay the balance for a new set of blades, the same would hold true if I over-sped the engine to the point that it had to be replaced and I could not afford the full cost for a new engine. I have been told that you can insure on a new for old type basis. Is this correct and how does it work, do you have to increase the hull value to that of a new machine if you want it replaced as new or how does it work if indeed it does? Thanks for your help.

[helicopter-redeye]

I think what you are expressing is the concept of the"betterment" which sort of insures back to new rather than back to condition. This certainly has been available in th past and I assume still is. It costs (a bit) more than the other form. Your broker should be able to advise on the different prices. Also the risk and the cost will be lower if you only insure a limited population of named pilots (or just you). PM me if you want a more detailed discussion. H-R

[nomorehelosforme]

When you sort your insurance I would really like to know what is covered. Blades , engines etc are costly but patented parts are available PM me if required.

[FSXPilot]

As redeye said what you need is betterment on your policy. It costs more but with that you get peace of mind.

[John R81]

I have this in my insurance for both R44 and EC120. Ask your broker

[Hughes500]

Betterment to give you an idea on a £ 300k MD 500 betterment is £ 1300 ish

[valve guide]

So you basically insure the heli as standard and pay an extra premium for betterment. Just to clarify then, if I damage the blades I would get a new set, no quibbles or if I over sped the engine to the point replacement I wouldn't have to pay any extra other than the excess on the policy? Taking it further if I totalled it and lived to tell the tale would they replace the aircraft with a new one? Sorry to sound sceptical but just want to make sure I'm fully covered as came adrift once in business with a commercial policy. Thanks again.

[Bob Bevan]

Betterment cover is only generally applicable to repair following an insured accident. Where there is a total loss the basis of settlement is normally limited to the agreed value of the helicopter.

[Helilog56]

I would highly recommend, you talk directly to an Insrance Broker that represents an Underwriter. Your going to want to get some quotes anyways.....:ok:

[Bob Bevan]

Betterment is a little cheaper than has been indicated above. On a £300k MD 500 we would normally expect to charge under £1,000 for its inclusion although factors such as use and pilot experience would have an impact.

It is especially worth looking at as engine time increases as it is potentially more beneficial the more hours of ‘wear and tear’ that have been incurred.

[VH-XXX]

If you need this on your insurance policy, you probably can't afford to buy a helicopter in the first place !

[topendtorque]

doubt you would get anything for a massive overspeed. an accident is a different story. re blades over here say they have only 1/4 of their life left, they may be worth only$20,000, you will normally have an excess which may be say 5% of hull value, which in your case may only be $9,000, at 3/4 life, so subtract 9 from 20 for your payout and it will only cost you the balance of new blade cost to be flying again as second hand blades are scarce as hens teeth and you wouldn't know where they have been. then of course your clottishness of running into a blade obstruction may be rewarded with increased premium cost, so that all needs to be weighed when assessing - will i or won't i claim.
insurance though is a good thing as a power on blade strike will result in a lot more mandatory and costly inspections and in a R44 may well result in a buckled firewall, which will be a write off. so make sure you have an agreed value write off.

[parabellum]

You have had the best advice you are going to get here, (topendtorque's is excellent), now you need a good broker, the City has several, some of whom will specialise in helicopters. Brokers don't cost extra, as some think, they are paid by the underwriter and work for you, they not only bring in the business to the U/W but do a lot of preliminary stuff that aids the U/W.


There is a bit here: Choosing a general aviation insurance broker - Corporate Jet Investor (http://www.corporatejetinvestor.com/articles/general-aviation-insurance-brokers-635/)


Hayward Aviation Ltd, LL Johns and Willis Aerospace would all be worth a try.


The questionnaire here will give you an idea:


http://www.cspinsurance.com/Helicopter_Quote.pdf

[Hughes500]

Bob Actually paid £ 990 but the ac is used for any purpose including long line lifting and any pilot can fly whatever experience !

[Bob Bevan]

There is certainly a place for advice for those owners who feel they need it. However many owners have a good idea of the cover they want and there are now more options for them than just a traditional City broker.

If you are a UK based owner (private or company) and want a helicopter insurance quote, even if only for comparison purposes, feel free to visit our website at Visicover.com (http://visicover.com). An online solution might not be for everyone, but there can be benefits such as potential cost savings and the convenience of 24/7/365 service access.