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Thread: A23-24 insurance

  1. #1

    A23-24 insurance

    Morris,
    We have an A23-24 insured with AIG (and has been for a good number of years). Ours is a 4 seater and is insured as such. Only a tiny number of the Beeches were sold with the sixth seat option. Since ours was not, the only way we could have the additional seats would be with a 337 (and then a passenger would have to climb in via the very small cargo door).
    John


    BAC Member Norris Hibbler, Aircraft And Marine Insurance
    Tuesday, April 24, 2007 3:47 PM

    HI! Folks - This in answer to the question about a Beech 23 vs. a Beech 23-24. To clear one point first off the Beech 24 is definitely not to be confused with the Beech 24R, which is the Sierra and is a retract. For quoting purposes, The Beech 23 is a Musketeer 4 place and is categorized as a Beech 23 in all insurance company systems. It generally has a 160 HP engine, and the III model has a 165 HP. The Beech 23-24 is a six seater and has a 200 HP engine.

    The confusion comes from AIG. Their online system does not have a Beech 23-24 listed separately. It is up to the agent to determine which model to choose. All the companies except AIG are willing to delete seats for quoting purposes. AIG stopped doing this about 8 - 10 years ago because folks can put seats back in without telling the insurance company, and if there's a claim, the insurance company will nearly always have to pay the claim for all 5 or 6 people.

    If any of you have a policy with AIG, and you have a Beech 23-24, your policy should not state a Beech 23. It should state Beech 24, and unfortunately, you will have to pay for the six seats, whether they are in or not. Your agent, however, should approach other companies which are willing to delete seats. For example, Global Aerospace clearly identifies the Beech 23-24 in their system.

    Your agent will have the capability of deleting seats for quoting purposes, and offer a very nice quote as compared to the AIG quote, for a Beech 23; and your policy will state the correct model. The only difference is that if you have a claim on a Beech 23-24, and your policy states you have a Beech 23, you will have some explaining to do as you've had the wrong aircraft model insured all along.

    For verification, if you access to the Blue Book, please go to the Beech 23-24 aircraft. The bold header for this aircraft clearly states Beech 24. Again, this is not to be confused with the Sierra. Make sure your agent is not changing your aircraft model to save you money. It won't be worth it in the long run.

    This information was verified with AIG. Should you have any questions, please feel free to call me.
    Thank you. Norris Hibbler - BAC Insurance Program


    From: Thomas P. Turner
    Sent: Monday, April 23, 2007 4:49 AM

    1) Remind your insurance agent /broker that your A23-24 is a fixed-gear airplane and therefore should not be rated as a retractable-gear BE24 for insurance purposes. It sounds like your agent/broker is not familiar with the Aero Club-series airplanes so it's up to you to provide that education if you wish to continue using him/her. Provide a link to the Type Certificate Data Sheet applicable for your airplane if your agent/broker does not know your airplane type.

    2) Ask your insurance agent/broker about the possibility of an endorsement limiting coverage on your airplane to flight only when four seats are installed. This was fairly common a decade ago when I sold aircraft insurance; it may still be possible today. Note that if the endorsement is available you'll be signing a legal document that says you have no coverage if the seats are INSTALLED, not just OCCUPIED. This may save you a couple hundred dollars per year on the premium.

    Your agent/broker should take your request to the insurance underwriters and report back to you in writing in a timely manner. Good luck.

    Fly safe, and have fun!
    Thomas P. Turner
    Mastery Flight Training, Inc.
    www.thomaspturner.net

  2. #2
    Another good example of why it will almost always pay off to deal with the BAC Insurance broker (Norris Hibbler's Aircraft And Marine). Not only have they saved me money for going on three years now; they also made it possible (affordable) for me to get back to $1,000,000 'smooth' coverage (no per-seat sub-limits). I, too, had AIG for many years, and had been happy with them. But despite my perfect track record with them, for more than fifteen years, they deliberately priced me out of their market some time ago.

    In my opinion, the only 'real' $1,000,000 policy is one that will pay up to the full amount regardless of how many people are aboard. If you have a sub-limits policy (as most people do, since it is cheaper for obvious reasons), you really only have $100,000 coverage for any given passenger. How far do you think that will cover you and your family's assets, if someone is injured or killed in your plane? These days, even relatively minor injuries such as broken bones could easily exceed the sub-limit amount, in health-care costs alone.

    Most members have been happy with the support from this agency. A couple of members have reported lack of follow-up calls. When I escalated those cases to Vivienne Hibbler, they were handled. As BAC members you have an 'inside track'. If you don't get the service you expect on a quote (or any other contact), simply ask for Vivienne or Norris when you call. I think you'll be happy with the service.

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