Aircraft Terrorism Insurance

[Anthony]

I just received my Insurance Renewal for my Tiger. My premium is the same as last year, but also included is an additional $200 Premium offer to purchase Terrorism Insurance Coverage. The premium is over and above my standard liability and hull insurance. The premium notice also indicates that the U.S. Government will pay 90% of all certified terrorism losses. If my Tiger is insured for $75K, that means I would be paying $200 annually for $7,500 of terrorism insurance. Has anyone else encoutered this? Am I reading this correctly?

I'm also going to call my agent later.

 

[ggroves]

Decline it. A complete waste of money. It's the insurance companies way of generating a new revenue stream by playing on peoples fears.

Greg
182RG

 

[Ken Ibold]

Decline it. A complete waste of money. It's the insurance companies way of generating a new revenue stream by playing on peoples fears.

My feelings exactly.

 

[Anthony]

I declined it. Freaking insurance companies.

 

[EdFred]

Here's my terrorism insurance:

 

[poadeleted3]

How likely are you to victimized by a terrorist in your plane? How likely is it that you are going to lose your plane to an act of terrorism?

This came about after 9/11 when it was discovered that most people's insurance policies do not cover acts of terrorism or war, so the government got involved with the program you mentioned. IIRC.

Not the type of insurance most folks need. Unless somebody blows up your hangar in an act of terrorism.

 

[Anthony]

Not the type of insurance most folks need. Unless somebody blows up your hangar in an act of terrorism.

Doubt that will happen out here in Colorado. We're all heavily armed and drunk (when we're not flying).

 

[Gary]

We're all heavily armed and drunk (when we're not flying).

WOW, that's great combination!

Are you the designated driver/shooter!

Gary

 

[fgcason]

WOW, that's great combination!
Are you the designated driver/shooter!

The drivers out here are the designated drinkers. If you drive like you're not drunk, you're going to get run down. The out of town terrorists aren't likely to survive the drive to the airport thus no terrorism aircraft insurance needed.

If it's tourist season, why can't we shoot them?

 

[Ken Ibold]

If it's tourist season, why can't we shoot them?

One of my favorite anti-tourist bumper stickers, seen on a beat up pickup truck in WPB: Happiness is 10,000 New Yorkers headed north with a Canadian under each arm.

 

[tom.]

I just received my Insurance Renewal for my Tiger. My premium is the same as last year, but also included is an additional $200 Premium offer to purchase Terrorism Insurance Coverage. The premium is over and above my standard liability and hull insurance. The premium notice also indicates that the U.S. Government will pay 90% of all certified terrorism losses. If my Tiger is insured for $75K, that means I would be paying $200 annually for $7,500 of terrorism insurance. Has anyone else encoutered this? Am I reading this correctly?

I'm also going to call my agent later.

My owners' policy has a terrorism rider which was $10.00 a year, which they stated was to cover the remote chance that someone was successful thawing and getting the hangar door open, figuring out the preheater, and making it to the runway amidst the snowdrifts.

 

[Anthony]

WOW, that's great combination!

Are you the designated driver/shooter!

Gary,

Just trying to promote the stereotype. Don't tell anyone, but we do having running water and electricity also.

 

[SkyHog]

Gary,

Just trying to promote the stereotype. Don't tell anyone, but we do having running water and electricity also.

heh - as long as your pipes don't freeze.

 

[Gary]

Gary,

Don't tell anyone, but we do having running water and electricity also.

I've heard those rumors! Guess its true that the frontier is slowly being tamed.

Gary

 

[Dave Krall CFII]

I got your tearrist insurance right here.

 

[Ghery]

I've heard those rumors! Guess its true that the frontier is slowly being tamed.

Gary

I remember spending a few months in the Boston area in the first half of 1969. Kids at that high school thought we were still fighting Indians. Of course, I didn't help...

We had friends who at one time lived across the street from an athletic field at WSU. There was an archery range and once in a while an arrow went a little high, crossed the street (thank goodness a car wasn't there) and stuck in the side of their garage. No longer, there is a gynmasium where the house was located and the range is long gone.

Now, fast forward to the spring of 1969. Wise guy in class is giving me a hard time about still fighting Indians. "Well, I have a friend who used to have to pull arrows out of the side of their garage now and then..."

 

[RogerT]

I've declined it since they started that.

 

[Steve]

When I renewed the brochure the agent sent me stated the add on was $50 so I declined. When I sent the form in the agent called and asked why I declined and I told her $50 was too much for something with so remote a possiblity. She said that it was a misprint and was only $5, so I took it in case Ben Lawdum attacks M11, or the TSA thinks he did.

My owners' policy has a terrorism rider which was $10.00 a year, which they stated was to cover the remote chance that someone was successful thawing and getting the hangar door open, figuring out the preheater, and making it to the runway amidst the snowdrifts.

 

[mikea]

The terrorism insurance rider is a federal mandate of some kind. When I got my notice it said the offer was required by law. I think the insurance companies have to offer to put you in the pool that was set up in the 9/11 bill. It was never a good deal, except maybe for the insurance companies, sorta like the prescription drug plan.

The whole 10 seconds of guvmint thinking probably went something like, "We're giving $25 Billion to the airlines (which will go bankrupty anyway), we need to throw a few crumbs out for others."

Decline the offer.