Avemco Insurance Co. has recognized another 13 Special-Light Sport Aircraft (S-LSA) to offer its most favorable rates.
Avemco has insured LSAs since they were first introduced four years ago. At the time all LSAs were rated the same.
“In the beginning, the results weren’t particularly good,” said Jim Lauerman. “But we got into the business, we learned the business – we took our hits – and made some adjustments.”
Lauerman noted that many of those early losses were from GA pilots transitioning to LSAs who underestimated the differences from their old airplanes and the new LSAs. “Most of those losses were early in the ownership experience,” he said.
Avemco changed its underwriting requirements to make up for those losses. Meanwhile, the industry matured, which meant more parts and maintenance shops were available to fix airplanes, while training also improved. All those factors led to the new rates, he said.
LSAs affected by the cut in rates include: American Legend Cub, Cub Crafters’ Sport Cub and Super Sport Cub, Flight Design CTLS, CTSW, and MC, FPNA Valor A-22, Jabiru J170 SP, J230 SP, and J250 SP, Remos G-3, and GX, and Tecnam P2002, P2004, P92, and P92S.
In other news, Avemco has donated a Piper Saratoga to Florida’s Vero Beach High School through the Build A Plane program.
The Piper PA-32 was salvaged from the bottom of Florida Bay. When it was delivered to the school, it was covered in sand and shells, which the students loved, said teacher Susan Deblois.
“This plane has a story, a history,” she said.
Known as “the plane at the bottom of the bay,” the Saratoga will be used in Deblois’ environmental technology classes.
Donating the plane is a “wonderful story of redemption,” Lauerman noted.
“When you get a plane at the bottom of the bay, that is not good news,” he said. “But hopefully a whole new generation of kids will be inspired by that plane.”
For more information: Avemco.com