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Overview | Premium/Rate Table | Apply Online
Premium/Rate Table How do the Silver Wings Premium/Rate Tables work?
The Silver Wings Plan Premium/Rate Tables are based on your effecting coverage anytime during the three month periods indicated until January 1 of the following year. The premiums shown below are for illustration purposes only and do not necessarily depict premiums listed in the current Premium/Rate Tables. COVERAGE “A”
BODILY INJURY (EXCLUDING PASSENGERS) AND PROPERTY DAMAGE LEGAL LIABILITY: For example if you decide you want coverage effective March 15 of the current year with only Coverage “A” and a limit of $3,000,000, then select the premium under the “Jan, Feb, or Mar” column of $360. This premium represents the amount payable for the term March 15 of the current year to January 1 of the following year. COVERAGE “B”
PASSENGER LEGAL LIABILITY: If in addition to Coverage “A”, you wish to purchase Coverage “B” for the same period to cover five passenger seats for $500,000 each, then select the premium under the “Jan, Feb, or Mar” column of $1,050. This premium represents the amount payable for the term March 15 of the current year to January 1 of the following year for this coverage. In this example, the combined total premium for both Coverage “A” and Coverage “B” for the policy period March 15 of the current year to January 1 of the following year is, therefore, $1,410. If on the other hand, you elect to purchase Coverage “A” Bodily Injury (Excluding Passengers) and Property Damage Legal Liability effective March 15 of the current year and decide at a later date, say June 15 of the current year, to then purchase Coverage “B” to cover five passenger seats for $500,000 each; then select the premium for Coverage “B” under the “Apr, May, or Jun” column of $945. This premium represents the amount payable for Coverage “B” for the term June 15 of the current year to January 1 of the following year for this coverage. In this example, the combined total premium for both Coverage “A” ($360 from March 15 of the current year to January 1 of the following year) and Coverage “B”($945 for the policy period June 15 of the current year to January 1 of the following year) is, therefore, $1,305. COVERAGE “C”
COMBINED SINGLE LIMIT BODILY INJURY (INCLUDING PASSENGERS) AND PROPERTY DAMAGE LEGAL LIABILITY: For example, if you decide you want coverage effective March 15 of the current year and you want a limit of $3,000,000 including five passenger seats then select the premium under the “ Jan, Feb, or Mar” column of $1,345. This premium represents the amount payable for this coverage for the term March 15 of the current year to January 1 of the following year. COVERAGE “D”
AIRCRAFT HULL “ALL RISKS” GROUND (NOT-IN-MOTION): Indicate where applicable, the value of your aircraft for each of the configurations (e.g. wheels $50,000, skis $60,000, floats $75,000, or amphibian $75,000). Take the highest configuration value and select the appropriate rate. For example, if you decide you want coverage effective March 15 of the current year and the highest value applicable to your aircraft is $75,000 equipped as a floatplane, then select the rate under the “ Jan, Feb, or Mar” column of 1.80%. Since the rates apply to each $100 of insured value multiply the insured value (highest value) times 1.80% to obtain the applicable premium i.e. $75,000 X 1.80% = $1,350. This premium represents the amount payable for this coverage for the term March 15 of the current year to January 1 of the following year. Note: With respect to hull coverage, if your aircraft is equipped with both wheels and floats, you must indicate on the application the value of the aircraft on wheels and on floats. If you fail to include both values, your insurer will deny a claim if a loss arises while the aircraft is on floats. Wings Edition Brochure (Adobe PDF Format) 2010 Wings Edition Brochure To download the free Adobe Acrobat Reader, please click here. Optional Coverage With your Silver Wings Plan, you have the option of enriching your coverage. Click here for more information.
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