US-Insurance coverage for a non-N-reg DA42

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dgger
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US-Insurance coverage for a non-N-reg DA42

Post by dgger »

I am making plans to come across the pond from Europe to tour Mexico and the Caribbean. My insurance, however, excludes flying in the U.S.. So I am currently shopping for a police to either cover the remainder of my existing policy (i.e. USA) or one that covers the entire planet.

The only insurance company offering worldwide policies that I am aware of, does not insure DA42s for reasons unknown to me. Can anyone think of a company that might cover me (my aircraft is on the D register)?
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Re: US-Insurance coverage for a non-N-reg DA42

Post by klang »

Hallo Peter
ich habe meine DA42 seit Jahren über einen Makler in Wien versichert und bin stets zufrieden. Er ist sehr erfahren und findet Wege. Sicher auch für Deine Reise.
Falls für Dich OK, kannst Du mir Deine email Adresse geben, damit ich Dir den Kontakt vermittle.
Gruss
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Re: US-Insurance coverage for a non-N-reg DA42

Post by CFIDave »

Sorry I can't help with insurance for D-registered aircraft, but I find it bizarre that your insurance company considers the US to be higher risk than either Mexico or the Caribbean and hence won't provide coverage when flying in the US. I would think that flying within the US should be safer -- we have much better radar and ATC coverage than those areas, with more and generally better-equipped GA airports than anywhere else in the world. Flying in some parts of Mexico carries an increased risk associated with vandalism to your aircraft on the ground and corrupt local officials.

I'm guessing the reason for your insurance company acting this way may be concern for US liability laws and a that US juries tend to award outsized damage awards.
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robert63
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Re: US-Insurance coverage for a non-N-reg DA42

Post by robert63 »

Peter, you just need to extend your insurance so that it covers the whole world. Costs a little bit extra, but not too much.
Regarding US there is a special terrorism coverage but we excluded this. Just talk to your insurance agent and he can organize everything.
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Re: US-Insurance coverage for a non-N-reg DA42

Post by dgger »

I agree and I would be suprised to hear anyone disagreeing with us that the U.S. offers the world's best GA support. However, If anything that would likely reduces the number of accidents, but from the insurance points of view their cost is (accident probability * average cost of an accident) - the latter being the important factor here.
CFIDave wrote:I'm guessing the reason for your insurance company acting this way may be concern for US liability laws and a that US juries tend to award outsized damage awards.
And it is not just my current insurance company. It is pretty much the entire industry. Apart from aircraft insurance any insurance really will want to limit their exposure to the U.S. legal system. Anything really: Health insurances would exclude trips to the U.S., etc. Even a number of financial products and services become unavailable once you are a U.S. person or have ties to the U.S..

Not a good development for anyone, I think.

This is why I was hoping to fill my coverage gap by buying from a U.S. Insurance company directly.
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Re: US-Insurance coverage for a non-N-reg DA42

Post by dgger »

robert63 wrote:Peter, you just need to extend your insurance so that it covers the whole world. Costs a little bit extra, but not too much.
Regarding US there is a special terrorism coverage but we excluded this. Just talk to your insurance agent and he can organize everything.
Ain't so easy. I am not aware of a single company that would offer a worldwide policy for my DA42. Are you?
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Re: US-Insurance coverage for a non-N-reg DA42

Post by robert63 »

Talk to the guys from http://www.ascair.de.
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Re: US-Insurance coverage for a non-N-reg DA42

Post by CFIDave »

dgger wrote:This is why I was hoping to fill my coverage gap by buying from a U.S. Insurance company directly.
The only US insurance company of which I'm aware that sells direct is Avemco. http://www.avemco.com However in the past they've always provided ridiculously high quotes to insure DA42s.

Otherwise, in the US aircraft insurance is usually bought through an insurance broker, who then "shops" your policy around to a relatively small under of underwriters to find you the best coverage at the lowest rates. If you want to try going through a US broker, you could start by calling AOPA, since they provide a brokerage service through their AOPA Insurance business unit. http://insurance.aopa.com
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Re: US-Insurance coverage for a non-N-reg DA42

Post by dgger »

Robert, Dave,

thanks a lot for you input. Much appreciated. I will have a hard look at all of these options.
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