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Should AMA raise the Liability Insurance Limit?
02-28-2013, 03:36 AM
#51
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RE: Should AMA raise the Liability Insurance Limit?
ORIGINAL: K-Bob
Where's KE when you need him, or at least wen he would be his most entertaining.
I think I'll put out some bait.
Where's KE when you need him, or at least wen he would be his most entertaining.
I think I'll put out some bait.
Please be careful, could we use different bait? We don't really want to get the police involved in this forum do we?
Regards
Frank
02-28-2013, 09:45 AM
#52
RE: Should AMA raise the Liability Insurance Limit?
It's not an insurance policy it is a magazine subscription 
... Does anyone know who carries this insurance and how much of your dues actually goes to the insurance itself.
I would be very interested to know.
... Does anyone know who carries this insurance and how much of your dues actually goes to the insurance itself. I would be very interested to know.
ORIGINAL: mr_matt
Hi everyone,
The tilte is fairly self explanatory. The current liability policy limit is US$2.5M if memory serves, it has been that was for a long time.
If for nothing more than inflation's sake, do you think the AMA should move to increase the limit?
I don't know if this means the dues would go up, stay the same with less services, etc.
Hi everyone,
The tilte is fairly self explanatory. The current liability policy limit is US$2.5M if memory serves, it has been that was for a long time.
If for nothing more than inflation's sake, do you think the AMA should move to increase the limit?
I don't know if this means the dues would go up, stay the same with less services, etc.
02-28-2013, 10:07 AM
#53
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RE: Should AMA raise the Liability Insurance Limit?
ORIGINAL: croatiablu
It's not an insurance policy it is a magazine subscription [img][/img]... Does anyone know who carries this insurance and how much of your dues actually goes to the insurance itself.
I would be very interested to know.
I would be very interested to know.
ORIGINAL: mr_matt
Hi everyone,
The tilte is fairly self explanatory. The current liability policy limit is US$2.5M if memory serves, it has been that was for a long time.
If for nothing more than inflation's sake, do you think the AMA should move to increase the limit?
I don't know if this means the dues would go up, stay the same with less services, etc.
Hi everyone,
The tilte is fairly self explanatory. The current liability policy limit is US$2.5M if memory serves, it has been that was for a long time.
If for nothing more than inflation's sake, do you think the AMA should move to increase the limit?
I don't know if this means the dues would go up, stay the same with less services, etc.
The AMA and the Westchester Surplus Lines Insurance Co., and there are insurance policies involved. The AMA is self insured until a certain threshold is met then the insurance company gets involved. I'm not exactly sure how it works or what the premiums are but it is all covered in the AMA 500 series documents on the AMA Website. Some of those documents are restricted to members only.
Regards
Frank
02-28-2013, 11:32 AM
#54
RE: Should AMA raise the Liability Insurance Limit?
Thanks Frank... I think that the insurance detailsought to be posted for people to see especially for those considering enrollment in the AMA. As we all know this insurance is secondary to what we have as home owners or whatever personal policies people may carry. My question is and has been what value is really afforded by this insurance.. Since I first have to exhaust my own insurance, I would have to contact my insurance person who probably has no clue what an RC plane is then i need to explain the mishap at which point he is probably very confused. Does the AMA engage the parties to put out the fire so to say? It sounds to me like you deal with it and if you exceed your own limits, the AMA rider insurance will pick up whatever is left. Is the AMA insurance notified of a potential underinsurance claim before hand? If like everything else, assume mishap occurs today.. things are probably put into motion over the course of a year.. then perhaps a settlement is reached but this exceeds the limits of your own policy.... then you call the AMA people?
My poinit is that I am under the impression from many that this is a magazine subscription for the most part. With the low probability of mishaps, the cost of this insurance I am sure is very low... if I have to do all the leg work to make anything happen and this insurance is only in place as a safety net to my own and no one will show up in my defense which would be helpful, well my recommendation is to make the insurance altogether optional.
Andy
My poinit is that I am under the impression from many that this is a magazine subscription for the most part. With the low probability of mishaps, the cost of this insurance I am sure is very low... if I have to do all the leg work to make anything happen and this insurance is only in place as a safety net to my own and no one will show up in my defense which would be helpful, well my recommendation is to make the insurance altogether optional.
Andy
02-28-2013, 11:54 AM
#55
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RE: Should AMA raise the Liability Insurance Limit?
ORIGINAL: croatiablu
Thanks Frank... I think that the insurance details ought to be posted for people to see especially for those considering enrollment in the AMA. As we all know this insurance is secondary to what we have as home owners or whatever personal policies people may carry. My question is and has been what value is really afforded by this insurance.. Since I first have to exhaust my own insurance, I would have to contact my insurance person who probably has no clue what an RC plane is then i need to explain the mishap at which point he is probably very confused. Does the AMA engage the parties to put out the fire so to say? It sounds to me like you deal with it and if you exceed your own limits, the AMA rider insurance will pick up whatever is left. Is the AMA insurance notified of a potential underinsurance claim before hand? If like everything else, assume mishap occurs today.. things are probably put into motion over the course of a year.. then perhaps a settlement is reached but this exceeds the limits of your own policy.... then you call the AMA people?
My poinit is that I am under the impression from many that this is a magazine subscription for the most part. With the low probability of mishaps, the cost of this insurance I am sure is very low... if I have to do all the leg work to make anything happen and this insurance is only in place as a safety net to my own and no one will show up in my defense which would be helpful, well my recommendation is to make the insurance altogether optional.
Andy
My poinit is that I am under the impression from many that this is a magazine subscription for the most part. With the low probability of mishaps, the cost of this insurance I am sure is very low... if I have to do all the leg work to make anything happen and this insurance is only in place as a safety net to my own and no one will show up in my defense which would be helpful, well my recommendation is to make the insurance altogether optional.
Andy
In my considered opinion the AMA is much more than a magazine subscription but that is a topic for another thread that has already been beat to death. The AMA Website has a lot of detailed information available on their insurance policies. Any response I could give you on your specific questions at this point would be opinions on my part. There is an Ask AMA feature on the Website or you can call the AMA staff directly and get more accurate answers to your questions. In the case of individuals that do not own homes the AMA insurance becomes primary but never having had to file a claim myself I cannot speak to the difficulty of filing claims.
Regards
Frank
02-28-2013, 12:07 PM
#57
RE: Should AMA raise the Liability Insurance Limit?
ORIGINAL: croatiablu
Go to the AMA website. There it is available each day. www.modelaircraft.orgThanks Frank... I think that the insurance details ought to be posted for people to see especially for those considering enrollment in the AMA. As we all know this insurance is secondary to what we have as home owners or whatever personal policies people may carry.
My question is and has been what value is really afforded by this insurance.. Since I first have to exhaust my own insurance, I would have to contact my insurance person who probably has no clue what an RC plane is then i need to explain the mishap at which point he is probably very confused.
If you are an AMA member go to AMA and read-up on what you have. As a home-owner in a modest house, I carry the usual $300,000.00 policy. OTOH I carry an additional liability policy. In addition I carry another same HO policy for a summer place in the UP of MI. Same deal except the locals allow credit for tthe 9 months that I am not there.
Yes, your AMA is sub to your commercial policy. The deal is that while your personal liability covers everything that could happen, the AMA concerns only model aviation thus you get 10,000,000 yankee-greens of liability coverage for a paltry fee of less than a basic meal at a fair restauraunt with a couple beers.
Does the AMA engage the parties to put out the fire so to say? It sounds to me like you deal with it and if you exceed your own limits, the AMA rider insurance will pick up whatever is left. Is the AMA insurance notified of a potential underinsurance claim before hand? If like everything else, assume mishap occurs today.. things are probably put into motion over the course of a year.. then perhaps a settlement is reached but this exceeds the limits of your own policy.... then you call the AMA people?
My poinit is that I am under the impression from many that this is a magazine subscription for the most part. With the low probability of mishaps, the cost of this insurance I am sure is very low... if I have to do all the leg work to make anything happen and this insurance is only in place as a safety net to my own and no one will show up in my defense which would be helpful, well my recommendation is to make the insurance altogether optional.
Andy
Andy
) AMA is no different.
02-28-2013, 12:55 PM
#58
RE: Should AMA raise the Liability Insurance Limit?
Thanks Horrace... I have no issue with this sort of legwork. I do it all the time with my day job...Imeant what I said from the standpoint that if this happened, I would not have a clue what to do or what not to do. My first inkling would be to call and attorney but never been there with a plane mishap...
02-28-2013, 06:06 PM
#59
RE: Should AMA raise the Liability Insurance Limit?
It's really not all that complicated. If your plane hits a car, you call your insurance agent and tell him that you plane hit a car. He knows what to do. He knows that kind of accident would come under the protection of your homeowner's insurance. He sends out an adjustor. The adjustor figures the damages and gives the owner of the car an estimate. The car owner takes his car to the body shop of his choice and gets his car repaired.
No different than having an auto accident, just it's covered under the homeowner's policy.
If you kill someone, the process is not much different. Except the survivors sue you and your homeowner's insurance company sends their lawyers to defend you and pay the damages. If the damage awarded is more than the limits of your homeowner's insurance, then AMA pays the difference. If the difference is more than the self insured portion of the AMA, then Westchester Suplus Lines steps in and covers the difference up to the insured limit.
If the survivors are awarded more than all that, you are on the hook for the difference. So if you are carrying the minimum amount of Homeowner's Liability, it becomes your responsibility.
We already know what AMA coverage is, then it's up to you, the individual, to be prepared by carrying the amount of insurance you think you might need someday.
Don't rely totally on the AMA to protect your ***** if you screw up. Each of us must take some responsibility for our actions and face the consquences.
The AMA has been doing a good job all these years. I really don't see any reason to change things now just because a few people want more. There seems to be a problem in this country right now, that people think the government should take care of them and hand feed them.
If we follow the results of the poll, the majority of the member's here like things just the way they are.
Frank
No different than having an auto accident, just it's covered under the homeowner's policy.
If you kill someone, the process is not much different. Except the survivors sue you and your homeowner's insurance company sends their lawyers to defend you and pay the damages. If the damage awarded is more than the limits of your homeowner's insurance, then AMA pays the difference. If the difference is more than the self insured portion of the AMA, then Westchester Suplus Lines steps in and covers the difference up to the insured limit.
If the survivors are awarded more than all that, you are on the hook for the difference. So if you are carrying the minimum amount of Homeowner's Liability, it becomes your responsibility.
We already know what AMA coverage is, then it's up to you, the individual, to be prepared by carrying the amount of insurance you think you might need someday.
Don't rely totally on the AMA to protect your ***** if you screw up. Each of us must take some responsibility for our actions and face the consquences.
The AMA has been doing a good job all these years. I really don't see any reason to change things now just because a few people want more. There seems to be a problem in this country right now, that people think the government should take care of them and hand feed them.
If we follow the results of the poll, the majority of the member's here like things just the way they are.
Frank
02-28-2013, 08:47 PM
#62
RE: Should AMA raise the Liability Insurance Limit?
Crotiablu I tried to place a second 5* on your post but confuser would not take two. Anywat you did a very fine expalanation.
03-01-2013, 03:28 AM
#63
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RE: Should AMA raise the Liability Insurance Limit?
ORIGINAL: Hossfly
Go to the AMA website. There it is available each day. www.modelaircraft.org
Go to the AMA website. There it is available each day. www.modelaircraft.org
http://www.modelaircraft.org/documents.aspx
Regards
Frank
PS: Hoss I believe you meant you tried to second five star countilaw, I five star'd your post also. countilaw, that is one of the best explanations I've heard and I will bookmark it and/or quote it if the need ever arises again, Thank you.
