Insurance revelation

[johnt4051]

I thought I would share an interesting discovery my local CL club has just made in regard to the topic of insurance.

The Eugene Prop Spinners fly CL at a privately owned ranch.  We have a lot of equipment stored there -- lawn mowers, portable toilet, trailer, trainer planes, tools, etc.  We thought it might be a good idea to investigate the possibility of getting a small insurance policy to protect against theft or vandalism of our our assets.

I worked with a local insurance agent at some length, giving detailed information about the circumstances, the location, the club's nonprofit status, a list of the items involved, etc., etc., etc.

I made it clear that all of us individually have liability insurance through AMA, and the club also takes out a policy through AMA to protect the ranch owner from liability.  So all we were asking for was a policy to protect against theft or vandalism.

Ultimately the company said they would not insure the club's assets because their business (including nonprofit) insurance policies all include liability -- and they won't insure anything to do with model airplanes because model airplanes are (to them) in the same category with drones.

So, I guess I'm thankful that we have AMA insurance for liability, and sad that a big insurance company can't tell the difference between theft of a porta-potty and getting whacked in the head by a quadracopter.

Back to the workshop now.   

[Peter in Fairfax, VA]

And AMA is no help, either.  Their website says no lawnmower insurance, and the AMA insurance department will neither take nor return calls.  After about three phone calls and the negativity on the website, I gave up.

There's a business opportunity here for an insurance company to sell some policies.

Peter

[Dan McEntee]

   Poll your club members and see if anyone gets their insurance through a broker and put the same proposal to them. they can check around and find someone to underwrite it, especially if you have had no problems to this point and are a good risk. Just my opinion.
   Type at you later,
    Dan McEntee

[Tim Wescott]

... and sad that a big insurance company can't tell the difference between theft of a porta-potty and getting whacked in the head by a quadracopter. ...

It's not the insurance company that can't tell.

It's the clever personal injury lawyers who will pull anybody at all into a personal injury case, hoping that either they'll pay some amount off to their client to make the case go away, or that in the event of a jury trial the jury won't know the difference between theft of a porta-potty and getting whacked in the head by a quadcopter.

And they will go after insurance companies who aren't insuring against liability, because they have no shame.

[Fredvon4]

I love my insurance company USAA but they are brain dead on many things:

My low value 90 years old used gun collection does not have any big buck or heirloom weapons....just a LOT of them, parts, tools, ammo, and ammo making tools....MY estimate is over $20,000....but on a named peril rider only the weapons count

My biggest risk is fire....pretty much self insured against theft....5 yapper small dogs and loaded guns most I will never find if needed in a hurry

Wife has a substantial Quilting shop (30x40) with about $20k structure, and over $54K of stuff and machines...USAA no rider for hobby crafts
Wife/me jewelry (cuz we both don't cherish lavish crap from Jerod etx...) is not named rider cuz I estimate it at under $5k
MY model airplane STUFF is in three different shops: 16x24 2 story site built climate controlled barn--15'x15' tall 40' long converted RV cover now a climate controlled shop---14'x34' lofted barn on skids not climate controlled...but $19K for building and $20K for good wood working cabinet/furniture grade tools and dust system

what aggravates me is ranch house is modest, older, and USAA or any other insurance will only sell a policy based on replacement cost of main house up to xxxx amount.....including contents......if wifes quit shed burns...I shudder to thing the 1cent on the dollar settlement....


final rant....I have been paying auto insurance since 1968.....one my fault claim in over 50 years....don't ya know i wished they optioned me into a WHOLE LIFE AUTO POLICY!!!

[Steve Helmick]

Did some insurance shopping myself, this summer. I got rejected by USAA, despite that fact that my father was a USAF officer from '35 to '61. Their ads do say military and family, so I don't get that. They wanted me to bank with them, which wasn't going to happen without the insurance side.

I also checked with one of the insurance companies with the funny ads...Bliberty Mutual, I guess is their name...their rates were significantly higher than State Farm, who we've been with for about 40+ years. Too bad for them. I told the guy I thought their ads were hilarious, and so were their rates.

Previously, as a member of a bass fishing club, I found that the club bought liability insurance from a local agent/broker...amazed me. We were also required by the club to have $300k or $500k liability on our boats, the amount depending on how fast they were.  Steve

[Russell Honea]

One workaround could possibly be for a willing member to add structures and contents to their homeowners policy. I personally done this for property I own about 30 minutes from where I currently live, and it runs me about 400.00 per year for 100k in replacement coverage. I done this thru Farmers Insurance here in Oklahoma. Your coverage needed would possibly be less so premiums should also be lower than mine.
I am a broker and do life health and retirement planning but I have friends on the property casualty side who helped me get this set up.

Russell

[Bill Adair]

Steve,

I think USAA only covers Active duty military members, and dependents?

My Farmers Insurance Group policy automatically covers a generous amount of firearms value, and didn't bat an eye when I added a sizeable rider to that. We moved into a condo about 15 years ago, and dropped our home owners policy to get condo owners coverage. Everything else stayed the same except that our home coverage was changed to content, as the condo association covers the structure.

Joined Farmers after returning from Germany in 59, at the age of 20. The independent agent listed my age (illegally) as 21, but filled in the true date of birth! They didn't catch that until I was actually 21, and called me direct to get the correct date. They did not cancel me as most companies would.

Most reloading equipment might be covered as tools, if lost in a fire.

Bill

[Steve Helmick]

Steve,

I think USAA only covers Active duty military members, and dependents?

My Farmers Insurance Group policy automatically covers a generous amount of firearms value, and didn't bat an eye when I added a sizeable rider to that. We moved into a condo about 15 years ago, and dropped our home owners policy to get condo owners coverage. Everything else stayed the same except that our home coverage was changed to content, as the condo association covers the structure.

Joined Farmers after returning from Germany in 59, at the age of 20. The independent agent listed my age (illegally) as 21, but filled in the true date of birth! They didn't catch that until I was actually 21, and called me direct to get the correct date. They did not cancel me as most companies would.

Most reloading equipment might be covered as tools, if lost in a fire.

Bill

USAA's ads say "and family". I'm not counting my time in ROTC, of course, but it says "and family". I'm for truth in advertising.  Steve

[Trostle]

Steve,

I think USAA only covers Active duty military members, and dependents?

Bill

You think?

I started with USAA (auto and home coverage) 55 years ago, retired from the Air Force 29 years ago and still with USAA.  Our son and daughter, now in their 50's, have had USAA coverage since their college days.

(It is kind of a revelation when the youngest turned 50.)

Keith

[Bill Adair]

(It is kind of a revelation when the youngest turned 50.)

Keith,

For sure, and it's happened to me three times!

Sorry Folks, my previous message was worded very poorly.

I was not trying to bad mouth USAA. A former family member is very happy with USAA coverage, and some friends are with USAA as well.

Bill

[Trostle]

(It is kind of a revelation when the youngest turned 50.)

Keith,

For sure, and it's happened to me three times!

Bill

You have had your youngest turn 50 three times.  That is really some kind of achievement!!

Keith

[Fredvon4]

Hey Steve....First, USSA policy decades ago( and too this day)  was to also insure family members under Casualty Indemnity Company (CIC) a third party with slightly higher risk assessments ( teenagers specifically) ...member must add dependents on to policy.

This family member insurance was "sort of automatic" in the 70s to today  for many driver age teenagers.....In other words a USAA eligible officer member had to deliberately "opt out" when a child turned 16, else that child was added to the auto policy and to be sure---- sticker shock happened.... it did for me...premiums tripled!!!!

That said..USAA policy to this day is: "once insured always insured"....so when your father was a member, if you were teenage driving age-- you might be a member....only had to be on policy one day.....

USAA Will need all info on your dad probably including service num and SSN.....worth pestering them  IMO

I was Army brat and as adult did not know I was eligible for USAA....I was enlisted-- so GIECO was about best-- or Dairy Land.

When buying our first house, my Mom wondered why I did not get mortgage and insurance from USAA....
I did not know my enlisted butt was eligible...and twasn't...but USAA by law..."once insured always insured"...worked....

I have been CIC member since 1983 with banking, savings, car ins, home ins,  investments, term life, whole life,....then wife was promoted to Command Sergeants Major 1998 and family moved from CIC to normal USAA membership....all rates dropped........a lot!

BTW  I insured each of my children with USAA....on purpose

We could do a family USAA "member for life" commercial...except I am ugly and cuss too much