Gear up - insurance issues…

dans2992

dans2992

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Dans2992
So….. I’m partnered with another individual on a Comanche 260B.

My partner gear upped it today. (Seemingly just a “mistake”)

We’re both named insured on the policy. I have nothing to do with the accident, was not on board. Will this impact my insurability/insurance rates for future aircraft? The accident was not mine, but will they say “you had a claim”?

(of course any policy with his name on it will be affected…. I’m talking about a future sole policy just for me, on a totally different aircraft.)
 
Yes it will at some point in time…
 
Just because you are a "named insured" does not mean you are the one filing the claim, your partner is filing the claim. It is against his record. Now, if you renew with both of you still on the policy, then yes, it will impact the policy cost. You could ask for what the renewal quote would be without him on the policy, and again with him on the policy, and have him responsible for any difference in cost due to the accident.
 
Thanks…. Let’s just say I am evaluating if our two names will ever be on another policy together… ;)

I know it was a “mistake”…. But this was one of the first flights after some pretty decent hangar rash was repaired… the hangar rash wasn’t me either…

He’s a really nice guy, and we’ve been partners for 10+ years. Things happen….But, I’m wondering if he’s having a spate of bad luck or if something is wrong.
 
The questions in "question", would be "Have you had an accident" (this would be a no) and "Have you filed a claim" (this may be a yes, not sure)
 
dans2992 said:
He’s a really nice guy, and we’ve been partners for 10+ years. Things happen….But, I’m wondering if he’s having a spate of bad luck or if something is wrong.
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Stuff happens, but I’d not want someone like this as a partner.
 
If you are part of a club, then same theory if a claim was made by one member, then you filed a claim before? Did your prop and engine get messed up too? Sorry to hear about the gear up. Probably a great person but some people are not detail oriented enough to handle fragile items.
 
Jeff Oslick said:
Just because you are a "named insured" does not mean you are the one filing the claim, your partner is filing the claim. It is against his record. Now, if you renew with both of you still on the policy, then yes, it will impact the policy cost. You could ask for what the renewal quote would be without him on the policy, and again with him on the policy, and have him responsible for any difference in cost due to the accident.
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He's co-owner, not just a named insured. He's going to pay more if they continue the partnership, unless they work a deal between them for the pic to pay a larger share.

But that's what you said.
 
Jeff Oslick said:
Just because you are a "named insured" does not mean you are the one filing the claim, your partner is filing the claim. It is against his record. Now, if you renew with both of you still on the policy, then yes, it will impact the policy cost. You could ask for what the renewal quote would be without him on the policy, and again with him on the policy, and have him responsible for any difference in cost due to the accident.
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That's how we did it when my partner had a prop strike. He willingly paid the difference in premium cost, although it really wasn't that much money in the whole scheme of things when you consider the cost of an engine teardown and a prop replacement.
 
Chip Sylverne said:
He's co-owner, not just a named insured. He's going to pay more if they continue the partnership, unless they work a deal between them for the pic to pay a larger share.

But that's what you said.
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Oh, I know 100% we’ll pay more as a partnership. I’m just wondering if I need to answer “yes” to “have you had a claim” from here on out, thereby raising my rates on insuring future aircraft where he is not on the policy.
 
dans2992 said:
Oh, I know 100% we’ll pay more as a partnership. I’m just wondering if I need to answer “yes” to “have you had a claim” from here on out, thereby raising my rates on insuring future aircraft where he is not on the policy.
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Have you asked your broker?
 
I will ask the broker.

Curious - does anyone know if there is a correlation between gear up landings (inadvertent) and a pilot’s age?
 
dans2992 said:
I will ask the broker.

Curious - does anyone know if there is a correlation between gear up landings (inadvertent) and a pilot’s age?
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Insurance companies seem to think so.
 
dbahn said:
That's how we did it when my partner had a prop strike. He willingly paid the difference in premium cost, although it really wasn't that much money in the whole scheme of things when you consider the cost of an engine teardown and a prop replacement.
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With that theory then shouldn’t the guy responsible get a discount since he saved the partnership tons of money? (Mx reserves)
 
dans2992 said:
So….. I’m partnered with another individual on a Comanche 260B.

My partner gear upped it today. (Seemingly just a “mistake”)

We’re both named insured on the policy. I have nothing to do with the accident, was not on board. Will this impact my insurability/insurance rates for future aircraft? The accident was not mine, but will they say “you had a claim”?

(of course any policy with his name on it will be affected…. I’m talking about a future sole policy just for me, on a totally different aircraft.)
Click to expand...
See the other thread in this forum, what is wrong with memory checklists ...
 
dans2992 said:
I will ask the broker.

Curious - does anyone know if there is a correlation between gear up landings (inadvertent) and a pilot’s age?
Click to expand...

I'd be curious to learn what your broker says. An interesting edge case to be sure, and I wouldn't know how to answer that question in your scenario either.
 
I know in the case of a prop strike the non flying partner was considered to have filed a claim and even though he ditched the partner and bought a different aircraft his insurance costs were much higher for 5 years. If you are on the policy and a claim is filed you have submitted the claim.
 
My broker lists my claim as…45k property,2 Fatal, August 2019, on the Application submission for my quotes. The look back seems to be five years for the industry.
 
schmookeeg said:
I'd be curious to learn what your broker says. An interesting edge case to be sure, and I wouldn't know how to answer that question in your scenario either.
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Our insurance carrier (Assured Partners) tells me that it would not affect my personal insurance rates, since I was not involved in the accident. Said he can’t speak for other companies though, obviously.
 
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