Microlight Insurance Survey

[Graham Speller]

The survey closed on 30th September, by which time 115 replies had been received.

I am going through the responses at present and will summarise the results here as soon as I can.

Thanks to all those who took the time to participate and particularly those who added their own ideas, suggestions and comments.

Regards
Graham Speller

[Bacchus]

Thanks Graham for all the effort you put in. Some of us appreciate it.
Its just a pity that there was not a lot more people who took the time to do the survey. I am sure however that a lot more will support you if you can make some viable insurance thing work!

[Graham Mac]

The survey closed on 30th September, by which time 115 replies had been received.

I am going through the responses at present and will summarise the results here as soon as I can.

Thanks to all those who took the time to participate and particularly those who added their own ideas, suggestions and comments.

Regards
Graham Speller

howzit graham
interested in microlight insurance
please post info to me at
grahammacdonald@telkomsa.net
thanks
graham

[RV4ker (RIP)]

Just redone the insurance on 2 aeries (one NTCA single other TCA twin). Agreed value just over a bar, insurance just over a grand a month for both. I only pilot which makes it very much cheaper but still fail to see why the ML are so expensive , especially if you do big hrs...

PS
Graham
Any news on the results of the survey?

[Graham Speller]

Hi, RV4ker

Apologies for the silence. As mentioned previously, the response to the survey was a little disappointing, with 114 replies, but I am very grateful to all those who made the effort.

Some inital indicators:

Only 1 in 3 microlights is insured against Hull losses. That indicates a huge level of self-retained exposure and makes the creation of an affordable insurance programme all the more important.

Only 1 in 8 microlights are financed directly. All of those carry insurance but many respondents commented that, were it not for the finance company’s insistence, they wouldn’t. So that suggests that only 1 in 4 microlights are insured voluntarily. Clearly, the finance industry has work to do and we are already in discussions with a bank with a view to creating a microlight-specific finance product.

Several respondents drew parallels between insuring their microlight and insuring an equivalent-valued vehicle, such as a 4x4 or motorbike and argued that the costs should be roughly the same. After all, the chance of colliding with another microlight is remote and there are no microlight taxis up there to contend with. Not yet!

Very few respondents claimed they would not insure, regardless of the cost. So it seems that insurance is seen as a viable option, but that it’s the cost that drives many people to take the self-insurance gamble, because that’s all it is: a gamble.

For those who read African Skies, I think the next issue will include an article I wrote about the survey, so I won't waste space here repeating myself any further.

We're working on a new insurance product and I'll let you know more once I have something worth discussing.

Regards
Graham Speller

[RV4ker (RIP)]

Thanks G. Looking foward to it.

[Graham Speller]

Well, it took a while but we're there at last!

Thanks to all those who participated in our little survey which, while the lowish response was naturally disappointing, did give us some useful pointers.

I do not pretend that we will cater for all the people all of the time.

However, what we can offer is an alternative approach, backed by A-rated Insurers, providing solid insurance for all aspects of your microlighting activities, including the bits that finance companies get turned on by!

Anyone is welcome to contact me for specific quotations, preferably during office hours.

[John Young]

Anyone is welcome to contact me for specific quotations, preferably during office hours.

Hi Graham,

Please insert your email address into your profile.

Will make it a bit easier to exchange data.

Regards
John ZU-CIB

[andreb]

I am interested Graham. Please send me details asap. Tx