Skymaster Forum - Q: Insurance recommendation

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Quote:

Originally Posted by phlgsse (Post 25809)

ah crap. well, I don't think I can do much about it now since I'm already working with a broker. I wish I had asked before talking to parker.

Call or E-Mail Wendy and tell her the situation and ask.

Quote:

Originally Posted by KLRDMD (Post 25810)

Call or E-Mail Wendy and tell her the situation and ask.

ok!
(and more characters)

Quote:

Originally Posted by phlgsse (Post 25809)

ah crap. well, I don't think I can do much about it now since I'm already working with a broker. I wish I had asked before talking to parker.

Speaking as someone who spent years working for one of the largest insurance companies (not aviation):

1. Clients who are married to one broker often pay higher premiums.
2. Larger insurance companies are usually more risk-averse.
3. Smaller "boutique" insurers often offer policies where the big guys don't.
4. You can have an aviation insurance broker AND a P&C broker. They are NEVER the same person, or at least they shouldn't be.
5. Insurance companies will often negotiate if you threaten to cancel your policy. They really don't want to send you a check.
6. The financial rating of an insurer is critical for life insurance and investments, but not for liability policies. By law, any claimants have to chase the insurer for payment. The policyholder is off the hook.

Just a few nuggets to take or leave as you see fit.

Quote:

Originally Posted by mshac (Post 25814)

Speaking as someone who spent years in the working for one of the largest insurance companies (not aviation):

1. Clients who are married to one broker often pay higher premiums.
2. Larger insurance companies are usually more risk-averse.
3. Smaller "boutique" insurers often offer policies where the big guys don't.
4. You can have an aviation insurance broker AND a P&C broker. They are NEVER the same person, or at least they shouldn't be.
5. Insurance companies will often negotiate if you threaten to cancel your policy. They really don't want to send you a check.
6. The financial rating of an insurer is critical for life insurance and investments, but not for liability policies. By law, any claimants have to chase the insurer for payment. The policyholder is off the hook.

Just a few nuggets to take or leave as you see fit.

thanks,

I'm not married to the broker per se, but the problem is one of the only underwriters that will write in hawaii reasonably appears to be global. Once they've quoted one broker they won't quote another for the same plane/pilot, so I'm stuck with parker for this year if I continue to pursue the plane.
Edit: I'm looking for another umbrella policy and checking on hull only also

Quote:

Originally Posted by phlgsse (Post 25818)

Once they've quoted one broker they won't quote another for the same plane/pilot, so I'm stuck with parker for this year if I continue to pursue the plane.

Ask your new broker to give you an AOR (agent of record) letter to give to the underwriters. It basically says "I know I was with one broker, but I really want to switch to another. I'm serious about switching and I pinky swear I'm not going to switch again."