Darn it...
Thread Starter
Join Date: Nov 2004
Location: The Desert but shortly to be HK!)
Age: 49
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Darn it...
After a year looking for the right group to join I finally took the plunge and bought a share in a great little aircraft early this year... all went swimmingly for the first few months... best money I ever spent.
Then disaster.... I get a call informing me that it has been put down in a field by another group member and as a result could be a written off (thankfully no-one was hurt).
Whilst the cause of the accident has not yet been determined I was wondering where I now stand with the "group" having potentially made an "insurance claim" potentially for the entire hull value.
Given the accident was nothing to do with me does this have an adverse impact on the insurance company's view of me individually??
If the aircraft is written off I would definitely look to join another group but I would be gutted if it meant I was viewed as "higher risk" by the insurance company given I had nothing to do with the accident!
If I do face a hike in insurance premiums is this a significant hidden risk in group flying?? (an issue no doubt for broader discussion!)
Feeling a bit gutted at the moment and would appreciate any advice from anyone who has been in a similar situation
Oh well back to renting warrriors from me local club....
GSB
Then disaster.... I get a call informing me that it has been put down in a field by another group member and as a result could be a written off (thankfully no-one was hurt).
Whilst the cause of the accident has not yet been determined I was wondering where I now stand with the "group" having potentially made an "insurance claim" potentially for the entire hull value.
Given the accident was nothing to do with me does this have an adverse impact on the insurance company's view of me individually??
If the aircraft is written off I would definitely look to join another group but I would be gutted if it meant I was viewed as "higher risk" by the insurance company given I had nothing to do with the accident!
If I do face a hike in insurance premiums is this a significant hidden risk in group flying?? (an issue no doubt for broader discussion!)
Feeling a bit gutted at the moment and would appreciate any advice from anyone who has been in a similar situation
Oh well back to renting warrriors from me local club....
GSB
It might affect the groups insurance (some companies operate a limited no-claims discount, similar to car insurance), but unless you bent it, you won't be affected.
Every insurance form I've ever filled out for an aircraft asks the same question "have YOU had any accidents in the last 5 years".
G
Every insurance form I've ever filled out for an aircraft asks the same question "have YOU had any accidents in the last 5 years".
G
Join Date: Apr 2004
Location: kent
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The accident MUST be disclosed to any new insurer whatever the wording on their form. It is a material fact. Whether any penalty is imposed is a matter for the respective underwriter.
Join Date: Apr 2003
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I was in the same situation a few years ago. Asked the new insurance company's if it was a problem and was told if you were not personally involved it did not count, and that this was “normal practice”.
Rod1
Rod1
Join Date: Feb 2002
Location: Hampshire, UK
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Ah! But Yes -But No - But!
When my co-owner plonked our shared aeroplane down too hard and pranged the prop. etc:-
- The insurance paid up.
- He didn't fly again.
- I bought him out (selfishly keeping the plane to myself!).
- On insurance renewal, with just me as sole owner, they still debitted me with the loss of no claims bonus despite me not having anything to do with the damage & never having ever damaged the plane in my ownership (shared or otherwise) - That's 19 years of no claims by ME - It would appear then that the aeroplane is to blame and it is the plane that loses the no claim - At least that's what happened in this case.
When my co-owner plonked our shared aeroplane down too hard and pranged the prop. etc:-
- The insurance paid up.
- He didn't fly again.
- I bought him out (selfishly keeping the plane to myself!).
- On insurance renewal, with just me as sole owner, they still debitted me with the loss of no claims bonus despite me not having anything to do with the damage & never having ever damaged the plane in my ownership (shared or otherwise) - That's 19 years of no claims by ME - It would appear then that the aeroplane is to blame and it is the plane that loses the no claim - At least that's what happened in this case.
