Travers & Associates Insurance
Moderators: GAHorn, Karl Towle, Bruce Fenstermacher
Travers & Associates Insurance
Here is a strange one. After renewing my insurance policy with AIG (Bethany), I just received a letter from Travers & Associates stating that they have bound insurance coverage on my aircraft for a period of thirty days pending the reciept of the enclosed application. I've never contacted Travers & Associates, so how did they manage to bind insurance on my airplane? They guessed the hull value of the aircraft correctly as well as my home airport and they make reference to a "club" discount. Has anyone else had this happen to them? I'll call Travers & Associates tommorrow to see how they happened to bind my airplane. Could this be the airplane equivalent of "long distance service slamming"?
John, 2734C in Summit Point, WV
Travers Insurance
Travers & Assoc or Traver Aviation Insurance (forgot the correct name) is a long time aviation independent insurance AGENCY who purchased Aviation Insurance Group Agency. I am guessing you had sent your information to AIG prior to the purchase by Travers, thus they had your file data.
I sent my renewal data back to AIG before the sale and got a quote from Travers. I called and discussed things with one of the Travers family members in the agency and did renew with them. Their price was, as had been the case with AIG for years, lower than other quotes I had received although that premium went up from $800+ last year to $1,000 this year.
Ole Pokey
I sent my renewal data back to AIG before the sale and got a quote from Travers. I called and discussed things with one of the Travers family members in the agency and did renew with them. Their price was, as had been the case with AIG for years, lower than other quotes I had received although that premium went up from $800+ last year to $1,000 this year.
Ole Pokey
-
rudymantel
- Posts: 451
- Joined: Sat Nov 23, 2002 4:03 pm
Didn't I read on this forum that AIG Bethany went down the tube ?
Travers probably either bought AIG or had some arrangement to take over AIG's clients.
John, my guess is that there's nothing sinister about this. At least you weren't left hanging in the breeze and have coverage at least for now.
Rudy
Travers probably either bought AIG or had some arrangement to take over AIG's clients.
John, my guess is that there's nothing sinister about this. At least you weren't left hanging in the breeze and have coverage at least for now.
Rudy
-
zero.one.victor
- Posts: 2271
- Joined: Tue Apr 23, 2002 12:11 am
I am (or was) insured thru AIG. I got my letter today from Travers & Associates saying that they had "purchased the aviation insurance policies of AIG,LTD". Said to contact them directly at 800-888-9859 or visit their website: http://www.traversaviation.com
Eric
Eric
What they said (I was with AIG too).
Travers gave me a quote that was a couple hundert bucks
more than AIG was. I argued and got it reduced to 60 or
so more $$$ than AIG was.
I think your premium should go down if you don't bend
anything while flying the !@#$% out of your airplane.... (almost
200 hours per year).
Bela P. Havasreti
'54 C-170B N170BP
Travers gave me a quote that was a couple hundert bucks
more than AIG was. I argued and got it reduced to 60 or
so more $$$ than AIG was.
I think your premium should go down if you don't bend
anything while flying the !@#$% out of your airplane.... (almost
200 hours per year).
Bela P. Havasreti
'54 C-170B N170BP
I expired with AIG in August and called Traver's to renew. Spent quite some time on the phone with Chris Travers asking as many questions as I could think of about policy specifics. They were extremely helpfull, patient and polite. Chris actually said he had never had a customer so inquisitive about a policy - that suprised me. As I recall the policy was slightly higher but not enough to complain about. They were still cheapest.
I was tempted to go with AUA along with most ot the tailwheel folks at my airport but I couldn't get them to return my calls (to answer the same annoying questions. Traver's was also cheaper and had better additional pilot coverage to include instruction for my two boys who will start in the next year or so.
I was tempted to go with AUA along with most ot the tailwheel folks at my airport but I couldn't get them to return my calls (to answer the same annoying questions. Traver's was also cheaper and had better additional pilot coverage to include instruction for my two boys who will start in the next year or so.
Bruce Shipp
former owners of N49CP, '53 C170B
former owners of N49CP, '53 C170B
Just got my renewal statement from Travers & Associates - UP from $919 to $1,125. 
Update: Just got off the phone with Mimi at Travers. Could do nothing, until I asked her to check AAU (thnks Bruce) the price came in at $1095. They don't recognize a 170 Club discount. The higher quote ($1,125) was with Phoenix Aviation (PHC) who does give us a Club Discount
Guess it's best not to mention you're in the 170 Club? Traver's shop's around for the best deal.
The Government had stepped in and taken over AIG this summer. Travers petitioned the Gov to let them handle our accounts. Travers' seems to really want our business. Very nice person on the other end.
She wanted us to know the family Glenn Travers, & now Son's Chris, John, & Mike. Sarah is in Renewals - for whatever that's all worth.
Update: Just got off the phone with Mimi at Travers. Could do nothing, until I asked her to check AAU (thnks Bruce) the price came in at $1095. They don't recognize a 170 Club discount. The higher quote ($1,125) was with Phoenix Aviation (PHC) who does give us a Club Discount
Guess it's best not to mention you're in the 170 Club? Traver's shop's around for the best deal.
The Government had stepped in and taken over AIG this summer. Travers petitioned the Gov to let them handle our accounts. Travers' seems to really want our business. Very nice person on the other end.
She wanted us to know the family Glenn Travers, & now Son's Chris, John, & Mike. Sarah is in Renewals - for whatever that's all worth.
When shopping for insurance, it's absolutely necessary to compare apples to apples. It won't do to simply call using your memory and tell the agent at the other end that you want $35K hull, $200 deductible, $1-mil liability, and then start comparing prices between different insurers. You've got to have a checklist detailing EACH item and make CERTAIN each agent knows what coverage they've GOT to make.
One agent will sound cheaper because he's got a family exclusion the others dont' have. Another agent will sound more expensive because their non-moving deductible is completely waived. A third thought you were based at a public, paved, lighted runway. A fourth thought you were hangared, not tied down. A fifth KNEW you wouldn't notice the difference that he only offered $2500 medical coverage while all the competitors he knew you'd gotten more expensive quotes from were offering $5,000 medical coverage. A 6th agent didn't mention your coverage was only valid in the lower 48 and you wouldn't be covered in Canada or Alaska. (Or perhaps you failed to mention to all the rest that you never intended to fly in Alaska, Canada or the Carribean?)
There are so many details in the policies, that most large quote variances are because the customer isn't really comparing apples to apples.
One agent will sound cheaper because he's got a family exclusion the others dont' have. Another agent will sound more expensive because their non-moving deductible is completely waived. A third thought you were based at a public, paved, lighted runway. A fourth thought you were hangared, not tied down. A fifth KNEW you wouldn't notice the difference that he only offered $2500 medical coverage while all the competitors he knew you'd gotten more expensive quotes from were offering $5,000 medical coverage. A 6th agent didn't mention your coverage was only valid in the lower 48 and you wouldn't be covered in Canada or Alaska. (Or perhaps you failed to mention to all the rest that you never intended to fly in Alaska, Canada or the Carribean?)
There are so many details in the policies, that most large quote variances are because the customer isn't really comparing apples to apples.
George you are correct in your explanantion and I totally agree.
However in our case, Travers' pulls up our expiring policies (from AIG) and gets quotes on the exact same apple. I had my wife scan my policy, send it to me, and Mimi and I went through it line for line. PHC was the same on coverage. AAU, with the lowest price also increased medical coverage per passenger from 3000 to 5000. I'm not sure what all that is, but it goes 1,000,000 - 100,000 - 5,000 - $40,000 Hull- etc...
However in our case, Travers' pulls up our expiring policies (from AIG) and gets quotes on the exact same apple. I had my wife scan my policy, send it to me, and Mimi and I went through it line for line. PHC was the same on coverage. AAU, with the lowest price also increased medical coverage per passenger from 3000 to 5000. I'm not sure what all that is, but it goes 1,000,000 - 100,000 - 5,000 - $40,000 Hull- etc...
It's good that you compared actual policies and bids, but you bring up another point also.
That second number, the $100,000 ...is the maximum coverage for a particular individual. In other words, in case of an accident, you the policy holder are only covered (NOT for 1-million...) for only $100K of claims per each claimant. That coverage may be worded "$100K per passenger"...or it may be worded "100K per person",...and that one-word difference can be crucial. In the first case, each passenger in your airplane is only covered for $100K of damages. What if you had no passengers? What if all your law suits were from the parents of the children in the schoolyard you crashed into?
Alternatively, what if the house you crashed into was owned by some young, rich Wall Street type whose lawyer easily made the case that his death resulted in the loss to the family/survivors of several millions of dollars? Your policy might only pay his survivors $100K. You can be assured that you will have to come up with the rest! Why? Because the insurance company will quickly acknowlege they have a $100K exposure and will mail them the check. They will not spend any of their money on their legal department fighting off the survivors in your defense. (Had you purchased a $1-million "smooth" policy, then rather than blow off a cool million, the insurance company's lawyers would be there in court to defend you against their having to pay out a whole million!
In the case of family exclusions, it might be that (unnoticed by the policy holder) the policy has a $25K family exclusion limit. That would mean that if the injured person were a member of the policy holder's family, only $25K would be paid to the injured party, regardless perhaps of the need for $500K of medical/rehabilitation for that loved family member. In such a case, it might be wise to consider for a moment whether one wishes to purchase sufficient coverage to take care of one's loved ones (the very ones most likely to actually be our passengers.) Note: if you have insurance with Avemco, you probably have a family exclusion limit. Its a major reason they sometimes appear less expensive.
Hope this helps explain some of the differences in many policies.
That second number, the $100,000 ...is the maximum coverage for a particular individual. In other words, in case of an accident, you the policy holder are only covered (NOT for 1-million...) for only $100K of claims per each claimant. That coverage may be worded "$100K per passenger"...or it may be worded "100K per person",...and that one-word difference can be crucial. In the first case, each passenger in your airplane is only covered for $100K of damages. What if you had no passengers? What if all your law suits were from the parents of the children in the schoolyard you crashed into?
Alternatively, what if the house you crashed into was owned by some young, rich Wall Street type whose lawyer easily made the case that his death resulted in the loss to the family/survivors of several millions of dollars? Your policy might only pay his survivors $100K. You can be assured that you will have to come up with the rest! Why? Because the insurance company will quickly acknowlege they have a $100K exposure and will mail them the check. They will not spend any of their money on their legal department fighting off the survivors in your defense. (Had you purchased a $1-million "smooth" policy, then rather than blow off a cool million, the insurance company's lawyers would be there in court to defend you against their having to pay out a whole million!
In the case of family exclusions, it might be that (unnoticed by the policy holder) the policy has a $25K family exclusion limit. That would mean that if the injured person were a member of the policy holder's family, only $25K would be paid to the injured party, regardless perhaps of the need for $500K of medical/rehabilitation for that loved family member. In such a case, it might be wise to consider for a moment whether one wishes to purchase sufficient coverage to take care of one's loved ones (the very ones most likely to actually be our passengers.) Note: if you have insurance with Avemco, you probably have a family exclusion limit. Its a major reason they sometimes appear less expensive.
Hope this helps explain some of the differences in many policies.