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Insurance

airguy

Unrepentant fanboy
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Just FYI for the group.

I'm getting closer to pulling the trigger (not quite there yet) on a Rocket build, and thought I'd check the insurance market. Gallagher came back as a "no-quote" on all underwriters due to make/model - no new coverage is available for Rockets in the current tight market.
 
Talk to Ladd Gardner. He owns a Rocket and knows the companies that will insure them. 1 (972) 250-0400
 
I went with Assured thru AOPA. Was the best rate offered when I was shopping around last spring.
 
I’ve been working my insurance through Scott ‘Sky’ Smith for years. USAIG is the only company I’ve been able to get a quote from for hull & liability. Scott gives me the responses (or lack there of) from each company he goes to. My renewal is coming up in December. I’ll have to see how it goes.

https://skysmith.com/
 
To the OP: try Avemco. They don’t use brokers, so Gallagher didn’t get a quote from them. Be sitting down, it seems like Avemco will quote nearly anything, but at a very high premium. For sure, try another broker/agency. But if they find something Gallagher didn’t, I’d want to know why. That’s not how the system is supposed to work.
 
I was with A.I.R. last year. 16000tt, 500tw, 400tw in rv aircraft and 10tt in the rocket. They quoted $5800/yr for full coverage on $135k hull value. I went with straight liability for $1925/year. My policy was up for renewal in October. I went with avemco this year. They quoted $1950/yr for hull/ground motion/liability. This would cover anything up to entering and exiting the runway. I went with straight liability for $500/year.

Rockets are expensive to insure if you need or want hull/in motion coverage for a loan. Liability alone is cheaper than my tri-pacer.

I figure i will use the saved cash to feed the beast and take my chances with the hull loss if it happens. The odds are, i won’t be alive to care about the loss of value if the airframe gets totaled.
 
But if they find something Gallagher didn’t, I’d want to know why. That’s not how the system is supposed to work.

I believe Gallagher is a bit picky on the financial strength of the companies they work with (a good thing IMHO). It is possible and likely that another broker is less picky and will quote a policy from a company that Gallagher doesn't deem strong enough and therefore doesn't work with. Due diligence helps here. Most all insurance companies have a financial strength rating done by a third party.

Larry
 
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