Goodbye Falcon, Hello Parker Woodruff

[rbridges]

I reached out to Parker last month.  My policy renews in September.  I don't even know the guy who works my insurance.  He definitely doesn't come on this forum and answer insurance questions.  

[Parker_Woodruff]

5 minutes ago, rbridges said:

I reached out to Parker last month.  My policy renews in September.  I don't even know the guy who works my insurance.  He definitely doesn't come on this forum and answer insurance questions.  

about time we can start working on it.  Talk to you later in the week.

[kris_adams]

Count me as another in the next 30 days...

[gsxrpilot]

Is there anyone left on MooneySpace, NOT using Parker for insurance? And if so, why??

[Andy95W]

Just now, gsxrpilot said:

Is there anyone left on MooneySpace, NOT using Parker for insurance? And if so, why??

I'm not... yet.  Last October I PM'ed Parker and gave him my numbers, and how much Falcon was going to charge me.  He said he really couldn't do any better.  But from now on, every October, you can bet I'll run it by him.

[donkaye]

48 minutes ago, gsxrpilot said:

Is there anyone left on MooneySpace, NOT using Parker for insurance? And if so, why??

Age.  I'm told it's best not to move after a certain age.  Correct me, if I'm wrong.

[Skates97]

40 minutes ago, Andy95W said:

I'm not... yet.  Last October I PM'ed Parker and gave him my numbers, and how much Falcon was going to charge me.  He said he really couldn't do any better.  But from now on, every October, you can bet I'll run it by him.

Exact same thing last December for me, and I'll be reaching out to him again this December. 

[MooneyMitch]

37 minutes ago, donkaye said:

Age.  I'm told it's best not to move after a certain age.  Correct me, if I'm wrong.

I believe Parker previously stated it’s more to do with not changing underwriters rather than changing agents.

In other words, you could change agents and keep same underwriter.

Let me search for that information in another thread.

[Shadrach]

5 hours ago, donkaye said:

Age.  I'm told it's best not to move after a certain age.  Correct me, if I'm wrong.

Absolutely correct. In my experience (have an octogenarian partner), when a pilot starts flirting with 70 years of age, it’s best to stay put. At 80, it’s tough if not impossible to find a company that will under underwrite a new policy without a previous relationship. The odd thing about the industry is that they will increase the policy rate if there is a “named pilot” on the policy in his 80S but they do not exclude  80 year old pilots from the “other pilot” coverage.  My dad gave up being PIC at 81. He is no longer a “named pilot” on the policy. This caused our rates drop by 15%. However, he still qualifies for and would be insured under the “other pilot” coverage if he were still flying. It’s odd. My dad is a 3500hr Instrumented rated pilot with more than 50yrs of accident free flying under his belt. He could probably fly any single engine retract on the field under the policy holder’s “other pilot” coverage but could likely not get “named pilot” coverage in a C150.

[toto]

1 hour ago, Shadrach said:

Absolutely correct. In my experience (have an octogenarian partner), when a pilot starts flirting with 70 years of age, it’s best to stay put. At 80, it’s tough if not impossible to find a company that will under underwrite a new policy without a previous relationship. The odd thing about the industry is that they will increase the policy rate if there is a “named pilot” on the policy in his 80S but they do not exclude  80 year old pilots from the “other pilot” coverage.  My dad gave up being PIC at 81. He is no longer a “named pilot” on the policy. This caused our rates drop by 15%. However, he still qualifies for and would be insured under the “other pilot” coverage if he were still flying. It’s odd. My dad is a 3500hr Instrumented rated pilot with more than 50yrs of accident free flying under his belt. He could probably fly any single engine retract on the field under the policy holder’s “other pilot” coverage but could likely not get “named pilot” coverage in a C150.

One thing to watch out for.. some carriers require that all individuals with an ownership interest in the aircraft be named on the policy.

[Shadrach]

3 hours ago, toto said:

One thing to watch out for.. some carriers require that all individuals with an ownership interest in the aircraft be named on the policy.

My dad is named on the policy but not a named pilot.

[toto]

57 minutes ago, Shadrach said:

My dad is named on the policy but not a named pilot.

Ah, that's an interesting approach that I didn't even know was a thing.

We have now exceeded my knowledge of aircraft insurance

[RobertGary1]

4 hours ago, toto said:

One thing to watch out for.. some carriers require that all individuals with an ownership interest in the aircraft be named on the policy.

It would be foolish not to. In our legal system the owner can be sued for liability simply for having their name on the title/registration. It’s a hold over from the English common law that our system is based on. You want that liability protection. 
 

-Robert 

[RobertGary1]

Every broker (who is competent) will quote you the same rates because they’re just quoting the same few underwriters who write policies in the United States. However service is important.  I’ve been with my broker for 20 years because he’s spent long times on the phone with me answering questions and when I called him from Mexico after a truck hit my plane I got his cell phone on the weekend.  
 

-Robert 

[Shadrach]

40 minutes ago, toto said:

Ah, that's an interesting approach that I didn't even know was a thing.

We have now exceeded my knowledge of aircraft insurance

The policy is in the name of all owners listed on the registration regardless of whether those owners are named pilots.  In many cases, non flying spouses are co owners.  They would listed as policy holders because of ownership even though they do not fly .

[Parker_Woodruff]

If an owner flies the aircraft they need to be disclosed.

[bradp]

Parker you’ll be hearing from me around Dec for a March renewal sound good...? 

[MrRodgers]

Is there anyone left on MooneySpace, NOT using Parker for insurance? And if so, why??

I’ve heard nothing but great things about Parker’s work on behalf on Mooney owners. Airspeed Insurance is now a sponsor for the West Coast Mooney Club and our upcoming Summer Conference. I’m looking forward to working with him on my coverage later this year.


Sent from my iPhone using Tapatalk

[rbridges]

On 7/1/2020 at 8:05 PM, Parker_Woodruff said:

about time we can start working on it.  Talk to you later in the week.

Sent you my info via email. Let me know if you don't see it.