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pitts_pilot(at)bellsouth.
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 Posted: Fri Sep 28, 2007 5:58 am Post subject: Aircraft Mutual Benefit Co |
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Just curious why? In my mind it's just like any 'product' ..... wheel
axles, door actuators, .......
An improvement (maybe) on an item that we may need. But that's just my
opinion.
Linn
do not archive
Albert Gardner wrote:
[quote]
I think this letter is a prime example of what should NOT be on the RV-10
List.
Albert Gardner
Yuma, AZ
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planesmith(at)hotmail.com
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| Posted: Fri Sep 28, 2007 7:21 am Post subject: Aircraft Mutual Benefit Co |
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I would like to add a few questions.
1. Will there be a cap to the valuation of an aircraft?
2. Is the annual membership fee varied by an individual's stated hull value?
3. How will the differences in valuation between RV models be accounted for?
That is assuming this program is geared to more than just RV10s.
I don't think a RV9A owner would be willing to pay what a RV10 owner will.
Thanks,
Vern Smith (#324)
> From: rv10(at)sinkrate.com
| Quote: | To: rv10-list(at)matronics.com
Subject: RE: Aircraft Mutual Benefit Co
Date: Thu, 27 Sep 2007 19:53:02 -0700
--> RV10-List message posted by: "Ben Westfall" <rv10(at)sinkrate.com>
Rick or Bob,
Can you provide the text on your website in a downloadable format such as a
PDF file? I cannot figure out how to copy the flash text for easy printing.
Also a few questions...
1) Does one have to have a completed airplane to buy in or obtain coverage
through Aircraft Mutual?
2) How much is required right now up front and how much of that is
refundable if things don't fly (pun intended)?
3) Is this limited to RV's?
3) What are the expected operating expenses of the company and how many
people will be on the payroll?
4) Is it only possible to obtain coverage if you have your GPS antenna
mounted in a RV-10 matronics list approved location (which from my best
recollection is at home atop your standard 6 story ham radio antenna pole
under 1/8 inch thick fiberglass housing)?
Forgive me if these were covered already as I usually have to read
everything at least 3 times before things sink in and that's open for
debate. We won't talk about this in reference to the RV-10 plans either as
3 times is just getting started!
Ben Westfall
#40579 - (I'm lying to myself to take comfort by saying I'm half way)
========================>
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bob.kaufmann(at)cox.net
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| Posted: Fri Sep 28, 2007 11:27 am Post subject: Aircraft Mutual Benefit Co |
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I would like to add a few questions.
1. Will there be a cap to the valuation of an aircraft? The valuation will be what you say, with the exception of the valuation of the group. If you say its worth $200,000 for an RV 9 then than value is way out of line with the other 9s and we are going to value it with the group, not your value unless you have some super secret encoder ring on board that makes the value that much.
2. Is the annual membership fee varied by an individual's stated hull value? The membership fee is a one time investment and annual coverage costs are dependent on hull value.
3. How will the differences in valuation between RV models be accounted for? Those people that are flying a RV 4 will obviously pay less than those people that are flying RV-10s. There are a lot of different valuation bases available for accounting for the model differences. A big first start is what is the valuation that you now have and are paying for.
That is assuming this program is geared to more than just RV10s. We will insure RVs only, not anything else.
I don't think a RV9A owner would be willing to pay what a RV10 owner will. I agree and they should not pay the same but they should still receive the same percentage savings as the RV10 owner. (and the same percentage applied to their savings account)
Thanks,
Vern Smith (#324)
Thanks for the questions
Bob K
From: owner-rv10-list-server(at)matronics.com [mailto:owner-rv10-list-server(at)matronics.com] On Behalf Of Vernon Smith
Sent: Friday, September 28, 2007 7:21 AM
To: rv10-list(at)matronics.com
Subject: RE: Aircraft Mutual Benefit Co
I would like to add a few questions.
1. Will there be a cap to the valuation of an aircraft?
2. Is the annual membership fee varied by an individual's stated hull value?
3. How will the differences in valuation between RV models be accounted for?
That is assuming this program is geared to more than just RV10s.
I don't think a RV9A owner would be willing to pay what a RV10 owner will.
Thanks,
Vern Smith (#324)
> From: rv10(at)sinkrate.com
> To: rv10-list(at)matronics.com
> Subject: RE: Aircraft Mutual Benefit Co
> Date: Thu, 27 Sep 2007 19:53:02 -0700
>
> --> RV10-List message posted by: "Ben Westfall" <rv10(at)sinkrate.com>
>
> Rick or Bob,
>
> Can you provide the text on your website in a downloadable format such as a
> PDF file? I cannot figure out how to copy the flash text for easy printing.
>
> Also a few questions...
>
> 1) Does one have to have a completed airplane to buy in or obtain coverage
> through Aircraft Mutual?
>
> 2) How much is required right now up front and how much of that is
> refundable if things don't fly (pun intended)?
>
> 3) Is this limited to RV's?
>
> 3) What are the expected operating expenses of the company and how many
> people will be on the payroll?
>
> 4) Is it only possible to obtain coverage if you have your GPS antenna
> mounted in a RV-10 matronics list approved location (which from my best
> recollection is at home atop your standard 6 story ham radio antenna pole
> under 1/8 inch thick fiberglass housing)?
>
> Forgive me if these were covered already as I usually have to read
> everything at least 3 times before things sink in and that's open for
> debate. We won't talk about this in reference to the RV-10 plans either as
> 3 times is just getting started!
>
> Ben Westfall
> #40579 - (I'm lying to myself to take comfort by saying I'm half way)
>========================
>
>
>
Connect to the next generation of MSN Messenger Get it now! | Quote: | | http://www.matronics.com/Navigator?RV10-List |
01234
[quote][b]
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
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LarryRosen
Joined: 16 Jan 2006
Posts: 415
Location: Medford, NJ
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| Posted: Fri Sep 28, 2007 2:45 pm Post subject: Aircraft Mutual Benefit Co |
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And a few more questions from me:
Will the membership fee vary by pilot experience and/or rating?
Since this program is for hull damage only, how difficult is it to get
liability only insurance?
What percentage of the $3-4k annual insurance premium is for liability?
Larry Rosen
#356
Vernon Smith wrote:
| Quote: | I would like to add a few questions.
1. Will there be a cap to the valuation of an aircraft?
2. Is the annual membership fee varied by an individual's stated hull
value?
3. How will the differences in valuation between RV models be
accounted for?
That is assuming this program is geared to more than just RV10s.
I don't think a RV9A owner would be willing to pay what a RV10
owner will.
Thanks,
Vern Smith (#324)
------------------------------------------------------------------------
> From: rv10(at)sinkrate.com
> To: rv10-list(at)matronics.com
> Subject: RE: Aircraft Mutual Benefit Co
> Date: Thu, 27 Sep 2007 19:53:02 -0700
>
>
>
> Rick or Bob,
>
> Can you provide the text on your website in a downloadable format
such as a
> PDF file? I cannot figure out how to copy the flash text for easy
printing.
>
> Also a few questions...
>
> 1) Does one have to have a completed airplane to buy in or obtain
coverage
> through Aircraft Mutual?
>
> 2) How much is required right now up front and how much of that is
> refundable if things don't fly (pun intended)?
>
> 3) Is this limited to RV's?
>
> 3) What are the expected operating expenses of the company and how many
> people will be on the payroll?
>
> 4) Is it only possible to obtain coverage if you have your GPS antenna
> mounted in a RV-10 matronics list approved location (which from my best
> recollection is at home atop your standard 6 story ham radio antenna
pole
> under 1/8 inch thick fiberglass housing)?
>
> Forgive me if these were covered already as I usually have to read
> everything at least 3 times before things sink in and that's open for
> debate. We won't talk about this in reference to the RV-10 plans
either as
> 3 times is just getting started!
>
> Ben Westfall
> #40579 - (I'm lying to myself to take comfort by saying I'm half way)
>========================
>
>
>
------------------------------------------------------------------------
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_________________
Larry Rosen
#40356
N205EN (reserved)
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bob.kaufmann(at)cox.net
Guest
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| Posted: Fri Sep 28, 2007 4:19 pm Post subject: Aircraft Mutual Benefit Co |
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No the membership fee will not vary, but we are planning on covering hull,
liability and builders ins. The cost for individual coverage will vary
depending on experience and ratings.
Bob K
If you are going to LOE look me up, and I'll answer everything, or give me a
call at 702 767-3587 which is my cell.
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ricksked(at)embarqmail.co
Guest
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| Posted: Fri Sep 28, 2007 4:19 pm Post subject: Aircraft Mutual Benefit Co |
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Actually Larry we are working to make it a complete package with liability and hull coverage, in the future I would like to be able to get hangar owners coverage which I already have through a group plan/member brokered through AIG. 3500 SF hangar with a full blown sprinkler system, modern construction and it's $1200 a year....Tin sheds are like tinder boxes you know!!
The details of actual premium will be based on stated value of each hull and the experience level of the pilot on liability, liability coverage has been relatively cheap compared to hull.
This is only my guestimate but my initial figure for liability only would be 30 percent of the entire cost but that's based strictly on my best guess, the liability coverage shares contributors from MANY insureds so the input is larger than just hull coverage which a lot of people do not carry, liability on the other hand is required to operate out of many airports so more pilots have it, and rightly so, it's one thing to lose a $150K airplane, a $1,000,000 lawsuit for hitting a house is another.
And I REALLY like the builders risk portion....any hands on how many people carry builders risk and have had to make a claim on it?
Rick Sked
40185
do not archive
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