Insurance for Gyros

WaspAir

Supreme Allied Gyro CFI
Joined
Oct 21, 2006
Messages
5,034
Location
Colorado front range
Aircraft
Bell 47G-3B-1 / A&S 18A / Phoebus C, etc.
Total Flight Time
stopped caring at 1000
If you finance the purchase of an expensive machine the lenders may require coverage to protect their collateral.
 

All_In

Gold Supporter
Joined
Apr 21, 2008
Messages
15,698
Location
San Diego, CA. USA
Aircraft
Piper Archer, Aviomania G1sb
Total Flight Time
Not sure over 10,000+ logged FW, 260+ ultralights, sailplane, hang-gliders
PS:
PRA is working on a discounted group insurance program. That dang John Rountree had delayed it by 6 months to publish the Website that is required to make it a reality.
This has become a much higher priority now that I have time to work on it again.
I now have 3 CFI's that will now start helping me with the once-a-year check-out ride and lesson plans needed. Only need to add those lesson plans to the existing CFI suite. That I've already written for that purpose.
Then send it to Hall Mark Insurance for final approval.
The creations from the 3 CFI's will take about 90 days to input the data and then testing takes the most time, then modify the program to the data fields I did not know we needed until the CFI's help me create the lesson plan data.
 
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All_In

Gold Supporter
Joined
Apr 21, 2008
Messages
15,698
Location
San Diego, CA. USA
Aircraft
Piper Archer, Aviomania G1sb
Total Flight Time
Not sure over 10,000+ logged FW, 260+ ultralights, sailplane, hang-gliders
If you finance the purchase of an expensive machine the lenders may require coverage to protect their collateral.
That is so true Bro. However, most banks do not want experimental aircraft as the actual collateral for the loan. Then the cheapest interest rates are a 2nd or 1st mortgage on your home. Often 6% to 20% cheaper than any other loan by a bank too.
 

All_In

Gold Supporter
Joined
Apr 21, 2008
Messages
15,698
Location
San Diego, CA. USA
Aircraft
Piper Archer, Aviomania G1sb
Total Flight Time
Not sure over 10,000+ logged FW, 260+ ultralights, sailplane, hang-gliders
Not be required to buy Insurance is a bummer for us!! Because there are few gyros in the USA insured POOL to share the risk and our gyroplane rates reflect much higher rates than FW's because they have over 200K aircraft in their pool splitting the risk/cost of repair.
 

All_In

Gold Supporter
Joined
Apr 21, 2008
Messages
15,698
Location
San Diego, CA. USA
Aircraft
Piper Archer, Aviomania G1sb
Total Flight Time
Not sure over 10,000+ logged FW, 260+ ultralights, sailplane, hang-gliders
On the other side of the issue is Utah's new law requiring all aircraft even ultralight to have insurance.
It killed Chapter 2 and most of the ultralight, that are stored at home aircraft, of all types in Utah.
 

Rick E

Member
Joined
Feb 21, 2013
Messages
310
Location
Sydney, Australia
Aircraft
Cavalon and an MTO Sport
Total Flight Time
2250+
Is “rotors not in motion” an insurance option available to you guys in the US? This level of cover offers insurance for us anywhere in Australia as long as the rotor or prop is not turning. This is obviously not ideal but covers your gyro from fire, theft or malicious damage while not being flown and is available for about 1.5% of aircraft value.
 

All_In

Gold Supporter
Joined
Apr 21, 2008
Messages
15,698
Location
San Diego, CA. USA
Aircraft
Piper Archer, Aviomania G1sb
Total Flight Time
Not sure over 10,000+ logged FW, 260+ ultralights, sailplane, hang-gliders
Reply
Is “rotors not in motion” an insurance option available to you guys in the US? This level of cover offers insurance for us anywhere in Australia as long as the rotor or prop is not turning. This is obviously not ideal but covers your gyro from fire, theft or malicious damage while not being flown and is available for about 1.5% of aircraft value.
No, it's not. Which SUCKS! Looked into merging Australia, Brittian, and the US but cannot find a carrier that it is legal to sell insurance in all US states let alone those 3 countries. Our current discount offering Ins co Hall Mark cannot sell insurance in 3 states in the US. IIRC it's Road Island, New Mexico, dang cannot remember the 3rd.
 
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