There is agreed value and there is market value.
The agreed value (these days) tends to need a particular specialist insurance company. An assessor comes out and values the classic aircraft or classic car for that matter..The agreed value means that the insurance company will not right off the vehicle in case of accident up to that level..It is mostly used on collectors cars, boats and aircraft. One vehicle might have a higher agreed value than the same modei of vehicle down the road ie they are individually assessed.
The market value is taken from a general dealers/insurers book and the vehicles are not individually assessed. The interesting thing is that market values differ from country to country.
A while back a lot of Brits bought houses in France and brought their cars with them. If they were staying they would have the cars reregistered and insured here. A Brit in the next village had an accident and the insurance company wrote off the vehicle. He was surprised, the insurer happily paid out a lot more than he had paid for the vehicle in the UK.
Used cars in France tended to fetch a lot more than they did in the UK. I don’t know if that is still the case.
Would like to hear what is an average yearly premium for a low hours pilot on aircraft with retractable gear and constant speed prop with a hull value around 100,000 euros? Also any recommendation for a broker?
Thanks!
What register? In case it is D can recommend someone….
Thank you ! Yes it is a D
Visicover in the UK have an online quoting engine.
I don’t know if they cover Croatia based aircraft, but it will at least give you a ball park for understanding that your cover is likely to cost.
The OP seems to be in Portugal, so it’s going to be nontrivial. The fact that it is a D-reg won’t help because most GA companies don’t insure cross-border (except for a trip, obviously).
You are right Peter, it is not trivial but it is possible with recommendation.
The same is with LBA local contact form.
Have experience about both.
Someone assisted us on that subject while ago, so just passing the good will.
Fly safe :)
@Wingover you have PM
If someone knows an insurer who will cover a D-reg based in Portugal, that should not be a secret.
It may be quite useful, because it is very rare in GA.
EuroGA should be a good resource for all.
I’ve owned/own PH-, D-, OK-reg aircraft based in Spain, insured through Haywards (now Gallagher).
Can not publish email from someone here without consent.
Even with consent, they may be and issue with spam.
Let’s see about this particular Wingover “case” first.
