And we wonder why GA is dying? The only thing they will insure for a “reasonable” price is a Cessna 150. T/D or retracts, forget about it. Over 80 and own a retractable aircraft, your policy will not be renewed. I recently received one of these crappy quotes myself. I have a complex endorsement and 40 some odd hours of retract time (arrow and bonanza). They said I needed 250-300 hours of retract time and 20 hours of dual time. So basically I will never be able to move out of fixed gear aircraft if I was to purchase one or pay the same amount as a whole aircraft to get the 300 hours using a rental. Crooks!
How are they crooks? By not selling you a product and not taking your money? What kind of business model is that? Those requirements are based on loss ratios, if they insure retracts and low time pilots have way more gear up landings then the paltry premium you paid (whatever it was) ain't gonna cover the $40k+ in repairs. They would love to sell as much insurance as possible to as many people as possible...business 101. If they have those requirements and prices...it is to stay afloat. No, I don't work for an aviation insurance company or sell it either but I do know an awful lot about insurance in general.
I bought a Mooney as a student pilot last year. I was expecting high rates the first year but I was promised a reduction for the next year after I got my license. The first year it was 3000. I just got my license and they said it was going to go up to 3125 but since I got my license it will *only* be 2925. 45k hull, 85TT, 60 in type. I was hoping that by doing the majority of my training in a complex the insurance gods would smile upon me for being more familiar with retracts than fixed gear. I was wrong.
Their attitudes personify why people hate insurance companies so much. After 35 years, I am glad I sold my plane and quit flying in March. Guess you could say I "pulled out of the market" of being hosed.
Unfortunately the operational cost will go beyond most GA pilots comfort levels. In my area, if you can find a T-hanger it will cost you $350 a month. Add insurance, fuel and other operational cost, you get to $1000 a month without the actual cost of the airplane.
Its not just aviation insurance thats increasing. My rates keep going up anywhere from 10 to 30% every renewal for auto, home, health, and landlord policies. The only one that wasnt increasing was motorcycle, but i havent had that for a couple years now. Soon, no type of insurance will be affordable at those rate of rate increases. The only claim i ever had was this past January for a pipe leak under my house for $2k.
I have no first hand knowledge but I have heard part of the issue with plane insurance is the amounts of planes that have been destroyed by hurricanes, tornados, etc. while in the hanger and that is insurance costs have gone up so much as insurance companies have to pay for these big storms. I did not know about the max grounding that they lady mentioned- that was helpful.
I don't buy the "hours" excuse. It seems this is just a figure that is available to give insurance companies a valid excuse to load premiums. I've flown with some absolutely excellent, conscientious and very safe Sub 100 hour pilots who are very unlikely to put themselves in a position where they would bend something, and some absolutely *horrendous* 500 hour pilots who somehow are still alive, one of whom I'd never fly with again unless I was P1. IMHO Insurance needs to move away from meaningless numbers and towards a pragmatic, calculated and reasonable solution. Dan Gryders AQP is one option. Maybe insurers could insist that pilot owners take and provide evidence of a certain number of hours of recurrent training every year that focusses on trending payouts and how to reduce the accidents/mishaps that are costing the insurers money. Therefore pilots who refuse to partake in recurrent training would have their premiums loaded accordingly and pilots who choose to partake and therefore presenting a much lower risk, would benefit from lower premiums.
Maximum profits with minimum risk...that’s the takeaway. They keep raising the rates as well as raising requirements for pilots so they get the high time pilots and charge as much as they can.
The major reason the rates go up is the lack of competition. They raise the rates for more income. PERIOD! Rip off the people who fly and get rich with less risk.
I’ve got liability only on my Tri Pacer.... If I were to convert it into scrap, I’d salvage the parts off it. I’m only concerned with covering my liabilities, no more or less.
You'd be shocked how small the margins are in the insurance business! Most companies are happy after all is said and done that they break even between the premiums collected vs. the commissions paid to the agents, the payout of claims and the loss adjustment expenses. They'd be stoked with a 3-4% profit, but often take a loss. Ins companies do not like to "take rate", that is raise rates, because it inevitably results in a loss of customers, but sometimes it is unavoidable or even mandated by the state agencies overseeing them!
@@beachboardfan9544 You don't or I shouldn't? I'm an adjuster for a very large multi-line Ins company, I know the numbers (at least for home/auto/commercial), the margins are very small. Some years we would lose hundreds of millions! Others, profit by that amount...but on a small margin. It is telling at just before the 5 min mark of this video where she talks about so many companies "not writing" aviation insurance anymore, that means it wasn't profitable for them! My company won't write in certain states for that reason, we can't charge a high enough premium to cover the risk.
@@beachboardfan9544 Umm, OK. I guess all the carriers mentioned in the video have stopped writing aviation insurance because they didn't like the fat profits then. Everyone's an expert on youtube, yeah your 1200/yr premium totally makes it profitable to pay for a $50k gear up landing or $100k per passenger when you VFR into IMC-it into a granite mountain! If you don't like the greedy ins companies, nobody is making you buy insurance for a GA plane. It isn't a right or required for you to feed your family, don't buy it, they don't owe you anything nor you them.
My dreams of owning an airplane are dead after I got some quotes from insurance companies..... I got a PPL back in 1999, but never owned an airplane. I've been wanting to buy one for a while now. But after I got quotes for and over 5000K a year, which is ridiculous, I can not afford this cost. This will makes it way thru the GA community, and will make it die sooner or later!
I got my pilot's license in late 80s out of a small club. At time was costly but still affordable to my income at time which was essentially minimum wage jobs. But still I could afford 1 or 2 hours of flying per month. Unfortunately I couldn't afford it later and stopped flying. At various times I looked at getting back in it. Recently looking at sport class. But even at this level the hourly rate seems so ridiculous high. Seems general aviation is rapidly shrinking as it is just not affordable unless you have a high income. Back in 80s never thought of renters insurance. No one came to me suggesting you should get it. Now to add this to already high hourly rate woof. The increase in insurance is just one more sign of the shrinking general aviation.
I actually got renters insurance just yesterday so I can rent the school's aerobatic and taildragger aircraft. I didn't think it was that much, $162 for 5k hull and 250k/25k liability, less than an hour's worth of flying the plane. But rental and instruction certainly have gone way up since I got my PPL, I'm glad I got it sooner rather than later!
@@watashiandroid8314I assume this was for a year or is this per month? What kind of hourly rates are you paying? I remember paying $15 to $20 per hour for the 150 and 151 Cessnas. It would be like paying est $46 to $62 per hour today.
I bought my Debonair (retract) 2 years ago with 0 retract time logged... my insurance was $5000 for my first year... i put 100+ hours on my first year AND got my instrument rating... my renewal in April was $1200 for the year.
I think the aging GA fleet is having an impact on prices as well. The planes aren't getting any younger and spares aren't getting easier to find for lots of airplane models. Especially the retractable gear market.
Loyalty to your insurance "guy" must count for something. And I'm sure the type of ac matters. I haven't seen the large hikes they're talking about and my policy changed when I added 2 more pilots. But I do see that my rate now is based on the pilot with the least hours. Interesting subject, thanks!
Don’t kid yourself the insurance underwriters are trying to recoup any payouts they may have made plus make a profit. Then you have the broker tacking on a hefty fee and insurance becomes cost and hour req. prohibitive. That’s really what this all boils down to.
Don’t feel bad for any of these insurance companies... You price people out of buying a plane, they leave GA. Less GA pilots mean less policies. Less policies means higher premiums, means less GA pilots. So, who is going to break this cycle? Me? Sorry dude you priced me out years ago.
My zenith is pretty affordable. After it’s finished I most likely will be self insured. I’m a new pilot and since I’m putting an alternative engine in it, they won’t even insure me till I get some time myself and on the plane. After they will it most likely won’t be worth paying for the insurance since that’s when the risk will be a lot lower.
I am currently looking to buy my first airplane. I am a pilot for a major airline, with approximately 22,000 hours of flight time. Before transitioning to the airlines, I flew in the Air Force for 10 years and acquired nearly 3,000 hours there, with over 150 hours of combat time and 300 hours of combat support time. My friends that own airplanes mostly fly tail dragger utility aircraft like Aviat Huskies, Cessna 170s, 180s, Maules, etc. When I called Avemco to get a quote for the 1978 Cessna 180 I had made an offer on, I was given a quote of nearly $800 per month! That is a deal breaker for me, unfortunately. What do you guys think?
General cost of operation of an experimental is lower but insurance is well over 7k a year. Another thing to keep in mind is that experimental aviation is not covered by any life insurance
@@nzkiwi9 my life insurance says nothing about aviation. Experimental or otherwise. It does mention several other activities like scuba, mountain climbing, wing suits/ skydiving, sponsored racing and use of illegal drugs. Then again i have been rated for harness construction work for 20 years. Every policy is different
The cost of aviation insurance would be reasonable if GA pilots consistently exercised good judgement. Evidence is that they don't do that. The woman in this exchange either didn't know what she was talking about or she didn't know how to communicate. All three of these folks are living in la-la land when it comes to future possibilities. GA is almost certainly on its way to the dustbin of history because of human frailties. Witness 15-20 fatal GA accidents per month in the US, most due to poor judgement.
Well yeah the market is shrinking because no one can effing afford it! Everyone is getting out of their GA life and going more towards experimental and sport flying.
Hot topic, lots of questions left unanswered and lots of hot tempers in the comments. Good to get this information out there but need some follow up if possible.
Insurance companies are in on the price hikes together, it's not just one insurance company. There's a lot of risk and if planes crash and people die there are massive insurance payouts. There's less risk in other industries.
A big reason GA will continue to stagnate (along with new aircraft prices). Keep hoping (wink wink) that additional resources become available, but they certainly won't lead the charge.
Guess I’m not buying a retract…. Sounds like these insurance agents have no idea what they are talking about. The rates went up because of the Boeing grounding??
Sounds like reasonably new low time pilots are just SOL. Give up on getting your own plane unless you're independently wealthy AND buying an "acceptable" low risk plane.
You can't keep a plane at an airport anywhere around Texas, as the airport manager Nazis force you to have a policy as well indemnify the airport . KLBX is the worst place I've dealt with followed by KBYY. They lie and say they've always had the insurance requirement, the district attorney forced them to demand it etc. I know there is absolutely no way a kickback exists between the local bureaucrats and insurance lobbyists, after all the government is running the show.
In that moment on camera, my thoughts were "I don't want to confuse people, because every persons rates will be different according to a bunch of variables... like hours in plane, ifr rated" etc.
NonyaBusiness! It’s pretty simple, if insurance companies aren’t scamming their clients, they arnt making any money. Just like they’ll take your money in a heartbeat but if you make a claim, its like pulling teeth to to get it.
NonyaBusiness! I have the same amount of proof that you have that they are charging fair rates. Fact of the matter is that there is a reason insurance companies become extremely wealthy while screwing over their clients every chance they get so I agree with you that they are scum.
Boeing is one of the reasons for the insurance increase? Really? Come on. The real reason is the bottom line. They want to make as much money possible and increasing rates it’s the easier thing to do. Besides there is a perception that owner pilots are rich so they can afford it. So don’t ask why the rates are going up.
Sport flying is under attack from every direction. One bad mishap could take one's life savings. Highly risky. They only want high time pilots although most airline pilots have horrible stick & rudder skills. My buddy crashed his Pitts S1S shortly after buying it even though I worked hard to train him on how to fly it. He was an AA pilot out of O'Hare. He had lower insurance rates than us sport pilots although had low skills. I also knew a company owner with lots of money who crashed every biplane he purchased. He asked me to buy a Christen Eagle II with him at 50/50. I said, not unless you fully insure it for both of us. I knew he would crash it at some point. Insurance companies do not look at one's skills & judgement only hours.
And we wonder why GA is dying? The only thing they will insure for a “reasonable” price is a Cessna 150. T/D or retracts, forget about it. Over 80 and own a retractable aircraft, your policy will not be renewed. I recently received one of these crappy quotes myself. I have a complex endorsement and 40 some odd hours of retract time (arrow and bonanza). They said I needed 250-300 hours of retract time and 20 hours of dual time. So basically I will never be able to move out of fixed gear aircraft if I was to purchase one or pay the same amount as a whole aircraft to get the 300 hours using a rental. Crooks!
How are they crooks? By not selling you a product and not taking your money? What kind of business model is that? Those requirements are based on loss ratios, if they insure retracts and low time pilots have way more gear up landings then the paltry premium you paid (whatever it was) ain't gonna cover the $40k+ in repairs.
They would love to sell as much insurance as possible to as many people as possible...business 101. If they have those requirements and prices...it is to stay afloat. No, I don't work for an aviation insurance company or sell it either but I do know an awful lot about insurance in general.
I bought a Mooney as a student pilot last year. I was expecting high rates the first year but I was promised a reduction for the next year after I got my license. The first year it was 3000. I just got my license and they said it was going to go up to 3125 but since I got my license it will *only* be 2925. 45k hull, 85TT, 60 in type.
I was hoping that by doing the majority of my training in a complex the insurance gods would smile upon me for being more familiar with retracts than fixed gear. I was wrong.
Their attitudes personify why people hate insurance companies so much. After 35 years, I am glad I sold my plane and quit flying in March. Guess you could say I "pulled out of the market" of being hosed.
Unfortunately the operational cost will go beyond most GA pilots comfort levels. In my area, if you can find a T-hanger it will cost you $350 a month. Add insurance, fuel and other operational cost, you get to $1000 a month without the actual cost of the airplane.
Its not just aviation insurance thats increasing. My rates keep going up anywhere from 10 to 30% every renewal for auto, home, health, and landlord policies. The only one that wasnt increasing was motorcycle, but i havent had that for a couple years now. Soon, no type of insurance will be affordable at those rate of rate increases. The only claim i ever had was this past January for a pipe leak under my house for $2k.
It would be interesting getting an actual underwriter/risk actuary on the show that deals with GA
Ill work on that.
I have no first hand knowledge but I have heard part of the issue with plane insurance is the amounts of planes that have been destroyed by hurricanes, tornados, etc. while in the hanger and that is insurance costs have gone up so much as insurance companies have to pay for these big storms. I did not know about the max grounding that they lady mentioned- that was helpful.
I don't buy the "hours" excuse. It seems this is just a figure that is available to give insurance companies a valid excuse to load premiums.
I've flown with some absolutely excellent, conscientious and very safe Sub 100 hour pilots who are very unlikely to put themselves in a position where they would bend something, and some absolutely *horrendous* 500 hour pilots who somehow are still alive, one of whom I'd never fly with again unless I was P1.
IMHO Insurance needs to move away from meaningless numbers and towards a pragmatic, calculated and reasonable solution. Dan Gryders AQP is one option. Maybe insurers could insist that pilot owners take and provide evidence of a certain number of hours of recurrent training every year that focusses on trending payouts and how to reduce the accidents/mishaps that are costing the insurers money. Therefore pilots who refuse to partake in recurrent training would have their premiums loaded accordingly and pilots who choose to partake and therefore presenting a much lower risk, would benefit from lower premiums.
The guest speakers were not very forth coming.
About as honest as a used car salesmen or an attorney. Yes we are screwing everyone equally, so its fine.
Maximum profits with minimum risk...that’s the takeaway. They keep raising the rates as well as raising requirements for pilots so they get the high time pilots and charge as much as they can.
The major reason the rates go up is the lack of competition. They raise the rates for more income. PERIOD!
Rip off the people who fly and get rich with less risk.
That's what I heard, don't think I'll be checking out either one. At least look like you own a business, not some guy getting gas
Exactly this. Insurance is the biggest legal extortion racket going.
Honestly I think this is price gouging to tee and someone should contact the attorney general
@@greggpedder Closest competition is PROPERTY TAXES.
I’ve got liability only on my Tri Pacer.... If I were to convert it into scrap, I’d salvage the parts off it. I’m only concerned with covering my liabilities, no more or less.
Don't forget the paycheck increases of the insurance people
You'd be shocked how small the margins are in the insurance business! Most companies are happy after all is said and done that they break even between the premiums collected vs. the commissions paid to the agents, the payout of claims and the loss adjustment expenses. They'd be stoked with a 3-4% profit, but often take a loss. Ins companies do not like to "take rate", that is raise rates, because it inevitably results in a loss of customers, but sometimes it is unavoidable or even mandated by the state agencies overseeing them!
@@BStrambo Dont believe that for a second!
@@beachboardfan9544 You don't or I shouldn't? I'm an adjuster for a very large multi-line Ins company, I know the numbers (at least for home/auto/commercial), the margins are very small. Some years we would lose hundreds of millions! Others, profit by that amount...but on a small margin. It is telling at just before the 5 min mark of this video where she talks about so many companies "not writing" aviation insurance anymore, that means it wasn't profitable for them! My company won't write in certain states for that reason, we can't charge a high enough premium to cover the risk.
@@BStrambo I dont, and you're a fool if you do, I dont care what echelon of the industry you're in.
@@beachboardfan9544 Umm, OK. I guess all the carriers mentioned in the video have stopped writing aviation insurance because they didn't like the fat profits then. Everyone's an expert on youtube, yeah your 1200/yr premium totally makes it profitable to pay for a $50k gear up landing or $100k per passenger when you VFR into IMC-it into a granite mountain!
If you don't like the greedy ins companies, nobody is making you buy insurance for a GA plane. It isn't a right or required for you to feed your family, don't buy it, they don't owe you anything nor you them.
My dreams of owning an airplane are dead after I got some quotes from insurance companies.....
I got a PPL back in 1999, but never owned an airplane. I've been wanting to buy one for a while now.
But after I got quotes for and over 5000K a year, which is ridiculous, I can not afford this cost.
This will makes it way thru the GA community, and will make it die sooner or later!
Sorry about that. I hope the rates come back down soon.
I got my pilot's license in late 80s out of a small club. At time was costly but still affordable to my income at time which was essentially minimum wage jobs. But still I could afford 1 or 2 hours of flying per month. Unfortunately I couldn't afford it later and stopped flying. At various times I looked at getting back in it. Recently looking at sport class. But even at this level the hourly rate seems so ridiculous high. Seems general aviation is rapidly shrinking as it is just not affordable unless you have a high income. Back in 80s never thought of renters insurance. No one came to me suggesting you should get it. Now to add this to already high hourly rate woof. The increase in insurance is just one more sign of the shrinking general aviation.
I actually got renters insurance just yesterday so I can rent the school's aerobatic and taildragger aircraft. I didn't think it was that much, $162 for 5k hull and 250k/25k liability, less than an hour's worth of flying the plane. But rental and instruction certainly have gone way up since I got my PPL, I'm glad I got it sooner rather than later!
@@watashiandroid8314I assume this was for a year or is this per month? What kind of hourly rates are you paying? I remember paying $15 to $20 per hour for the 150 and 151 Cessnas. It would be like paying est $46 to $62 per hour today.
I bought my Debonair (retract) 2 years ago with 0 retract time logged... my insurance was $5000 for my first year... i put 100+ hours on my first year AND got my instrument rating... my renewal in April was $1200 for the year.
SOunds about right.
Thanks for telling everyone what the insurance actually costs...
I think the aging GA fleet is having an impact on prices as well. The planes aren't getting any younger and spares aren't getting easier to find for lots of airplane models. Especially the retractable gear market.
Absolutely true..
Loyalty to your insurance "guy" must count for something. And I'm sure the type of ac matters. I haven't seen the large hikes they're talking about and my policy changed when I added 2 more pilots. But I do see that my rate now is based on the pilot with the least hours. Interesting subject, thanks!
Don’t kid yourself the insurance underwriters are trying to recoup any payouts they may have made plus make a profit. Then you have the broker tacking on a hefty fee and insurance becomes cost and hour req. prohibitive. That’s really what this all boils down to.
Brokers do not tack on fees. They work ona commission
Typical boomer response. Just pay more money. Have less fun. More big government...... 🥴
What does the government have to do with insurance companies?
Don’t feel bad for any of these insurance companies... You price people out of buying a plane, they leave GA. Less GA pilots mean less policies. Less policies means higher premiums, means less GA pilots. So, who is going to break this cycle? Me? Sorry dude you priced me out years ago.
My zenith is pretty affordable. After it’s finished I most likely will be self insured. I’m a new pilot and since I’m putting an alternative engine in it, they won’t even insure me till I get some time myself and on the plane. After they will it most likely won’t be worth paying for the insurance since that’s when the risk will be a lot lower.
I am currently looking to buy my first airplane. I am a pilot for a major airline, with approximately 22,000 hours of flight time. Before transitioning to the airlines, I flew in the Air Force for 10 years and acquired nearly 3,000 hours there, with over 150 hours of combat time and 300 hours of combat support time. My friends that own airplanes mostly fly tail dragger utility aircraft like Aviat Huskies, Cessna 170s, 180s, Maules, etc. When I called Avemco to get a quote for the 1978 Cessna 180 I had made an offer on, I was given a quote of nearly $800 per month! That is a deal breaker for me, unfortunately. What do you guys think?
Wow, there is loss of use insurance now? Never heard of it when I was in the airplane business.
What about experimental? I am becoming more and more intrested with building a plane.
General cost of operation of an experimental is lower but insurance is well over 7k a year. Another thing to keep in mind is that experimental aviation is not covered by any life insurance
@@nzkiwi9 my life insurance says nothing about aviation. Experimental or otherwise. It does mention several other activities like scuba, mountain climbing, wing suits/ skydiving, sponsored racing and use of illegal drugs. Then again i have been rated for harness construction work for 20 years. Every policy is different
The cost of aviation insurance would be reasonable if GA pilots consistently exercised good judgement. Evidence is that they don't do that.
The woman in this exchange either didn't know what she was talking about or she didn't know how to communicate.
All three of these folks are living in la-la land when it comes to future possibilities. GA is almost certainly on its way to the dustbin of history because of human frailties. Witness 15-20 fatal GA accidents per month in the US, most due to poor judgement.
Well yeah the market is shrinking because no one can effing afford it! Everyone is getting out of their GA life and going more towards experimental and sport flying.
Dan, I love your shows and appreciate your work, but in this case, these guys seem to have smoked a joint or being under Xanax.
Hot topic, lots of questions left unanswered and lots of hot tempers in the comments. Good to get this information out there but need some follow up if possible.
Agreed. Need more info. And with something happening to me and Lola I’ll be able to speak more info soon.
Insurance companies are in on the price hikes together, it's not just one insurance company. There's a lot of risk and if planes crash and people die there are massive insurance payouts.
There's less risk in other industries.
A big reason GA will continue to stagnate (along with new aircraft prices). Keep hoping (wink wink) that additional resources become available, but they certainly won't lead the charge.
Guess I’m not buying a retract…. Sounds like these insurance agents have no idea what they are talking about. The rates went up because of the Boeing grounding??
Sounds like reasonably new low time pilots are just SOL. Give up on getting your own plane unless you're independently wealthy AND buying an "acceptable" low risk plane.
For now at least. Hopefully it can change back in the next few years.
At this rate it seems like flying without insurance will be worth serious consideration.
You can't keep a plane at an airport anywhere around Texas, as the airport manager Nazis force you to have a policy as well indemnify the airport .
KLBX is the worst place I've dealt with followed by KBYY.
They lie and say they've always had the insurance requirement, the district attorney forced them to demand it etc.
I know there is absolutely no way a kickback exists between the local bureaucrats and insurance lobbyists, after all the government is running the show.
Very informative helps put a hold on my first aircraft purchase. Dang it but well too know. Low time pilot wants retract aircraft.
Why do you avoid telling everyone what your costs were year to year to date?...
In that moment on camera, my thoughts were "I don't want to confuse people, because every persons rates will be different according to a bunch of variables... like hours in plane, ifr rated" etc.
No one mention the Hurricane/ Tornado carnage costing a lot of money to ins cos.
Now it's much worse. Why?
Who comes up with these numbers? They’re full of it.
NonyaBusiness! It’s pretty simple, if insurance companies aren’t scamming their clients, they arnt making any money. Just like they’ll take your money in a heartbeat but if you make a claim, its like pulling teeth to to get it.
NonyaBusiness! I have the same amount of proof that you have that they are charging fair rates. Fact of the matter is that there is a reason insurance companies become extremely wealthy while screwing over their clients every chance they get so I agree with you that they are scum.
Boeing is one of the reasons for the insurance increase? Really? Come on. The real reason is the bottom line. They want to make as much money possible and increasing rates it’s the easier thing to do. Besides there is a perception that owner pilots are rich so they can afford it. So don’t ask why the rates are going up.
I agree... the bottomline is why and we hit that. I do think the 121 carrier losses contribute mightily to that bottomline.
@@TakingOff absolutely true.
Oligopoly has its advantages I guess.
Damn boeing's messing up all kinds of stuff!
@@dennisnbrown Dunno, they fucked over america pretty bad this past year or two.
Sport flying is under attack from every direction. One bad mishap could take one's life savings. Highly risky.
They only want high time pilots although most airline pilots have horrible stick & rudder skills. My buddy crashed his Pitts S1S shortly after buying it even though I worked hard to train him on how to fly it. He was an AA pilot out of O'Hare. He had lower insurance rates than us sport pilots although had low skills. I also knew a company owner with lots of money who crashed every biplane he purchased. He asked me to buy a Christen Eagle II with him at 50/50. I said, not unless you fully insure it for both of us. I knew he would crash it at some point. Insurance companies do not look at one's skills & judgement only hours.
Is it me or was this guy selling insurance just as arrogant as could be?
He’s one of the nicest guys you’ll ever meet. He’s just very laid back.
Firt
First