Very many thanks to the many folk who answered my request for insurance
data. I attach two graphs, the first showing a comparison between Mon &
Trike for those insured with Traffords, who insure something over 3/4 of
the respondents, and the second showing other firm's position in
relation to the same Traffords average line which appears in the first
graph. A number of interesting points emerge:
1. It is apparent that there is no clear difference between mono and
trike insurance rates in the UK, as far as Traffords are concerned. This
point is confirmed by a conversation that one of the committee had with
Visicover, who said that the accident rates are no different and that
they do not alter rates for each type. This should go some way to negate
the view that the Mono is an accident waiting to happen, although as
with so many things there is an element of self selection here and the
experience and piloting skills of the two groups may not be the same!
2. In the second graph there is a clear suggestion that Visicover offer
appreciably lower rates than Traffords, (by 150 pounds or so) and this
is confirmed by a couple of respondents who had had quotes from both,
with Visicover being correspondingly cheaper. There is one anomalous
Visicover cost of 1180 pounds for 30k cover, but I guess there was
something about that proposal that left Visicover deciding they would
rather not have it on their books! Six premiums from Haywards feature as
well as one from Jennings and one from Sydney Charles. These numbers are
too small to make any very firm conclusions, but there is certainly a
bit of a suggestion that Haywards may be a bit more expensive than
Traffords.
3. The scatter in the rates of course relates to such things a
experience, instructor status etc, but those who find their premiums
well away from the mean line may want to seek alternative quotes.
4. Finally four respondents insured their planes third party & legal
requirements only and paid premiums in the 300-400 pound range. There is
certainly an argument that if you can afford to contemplate the cost of
a write off then there is no point in comprehensive insurance, as
insurance companies are of course making a profit out of our premiums!
Happy landings, David Joyce, GXSDJ
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