Insurance claim

[lefssa]

I am busy with an insurance claim. Here are a few things to be VERY aware of.

Do not put more than one aircraft on a single policy number. If you have a claim then all the money due on your policy up to completion of insurance contract becomes due immediately. This is for all aircraft listed on that policy number. I would have thought the broker would warn you about this.

Why on earth would anyone put more than one plane on a policy if this is the case. Imagine if the claim was for R25 000.00. Your excess is R20 000.00 plus R20 000.00 to pay the policy up to date immediately. Is it worth putting in a claim. My insurance is R2200.00 per month for two bantams. I put in a claim and need to pay R20 000.00 BEFORE my policy will be paid out. If you do not have the money, sorry we will not continue with the claim until you pay up first. My first school claim in 25 years. The claim is for about R90 000.00. "If this money cannot be found you will have to write off the entire claim."

Why does the attitude of the broker suddenly change when you have a claim. As if you have done something wrong.

[nicow]

I think it's time to get an other broker and change your insurance.I hope mine is not the same...

[John Boucher]

For one, policies are normally regarded as ANNUAL POLICIES with the insurance company "carrying" the premium till you as client has repaid the year premium. This normally "saves" the client some premium as you would otherwise actually have to pay the year premium up front.

It also depends how your policy is structured and who the insurer is and would only be able to comment on seeing the contract.