Insurance?

[Beefmaster]

Hi guys,

Almost ready to go solo now, and its worrying me a little that neither me or my instructor has any insurance on the plane. We're on a bend it and mend it basis. I spoke to Dennis Jankelow's people, and they dont do insurance for flex wing aircraft

Anybody know where I can take insurance to cover me when flying any trike? Or is there no such thing anymore?? What does it cost?

Cheers

[Bundy]

I investigated this myself a while ago BM and I could not find anyone who was willing to insure a Weight Shift Trike. Even if you could find a company able to do it, the cost of insurance would probably be so high that within 18 months you would replace the item you are insuring! It all depends on what you are flying.

I have decided to start my own "insurance policy" and put a little bit away every month to cover the unforseen.

The advantage of this is after a year or two you have a working balance to help with other things that creep up unexpectedley sometimes, such as a wing replacement or engine? In my opinion, they are not worth insuring.

[nicow]

My trikes are insured by Santam.

[Beefmaster]

Thanks you guys

Question Nicow: Do you mean that the aircraft itself is insured, or are you as pilot insured to fly any trike??

[Tailspin]

You can insure the Trike but then there are so many ways that the Insuring company leave enough loop holes that a medioker Lawer will blow holes in your Claim, or they charge you so much like Bundy says that you can replace the whole thing within two years.
What i did was to ope a seperate saving account with a bank i do not use and i deposit a Fixed amount every month,l within 6 months i have enough to cover small problems and in a Year i will be able to replace or fix anything up to R5K if you can deposit more than R10K, but even R250 a month will grow after a period of time.

The other way to do it is take a small personal Loan, deposit this in an account 7day deposit say and you have a few thousand sitting in the bank just incase.
To pay an insurance comapny will only start to be benificial if your aircraft is worth over R50K and you can handle the monthly costs.
I insured myself for any eventuality and in my Will it states that if i am Hiring an aircraft at the time of my death then the aircraft needs to be repaird to the point tha tthe aircraft was at my time of flying it. Takes a bit of thinking but there are many ways of skining a cat.

[nicow]

Thanks you guys

Question Nicow: Do you mean that the aircraft itself is insured, or are you as pilot insured to fly any trike??

Yes,the trikes are insured.