FW: AMA Insurance

[Terry Terrenoire]

Speaking from 15 years as an insurance agent, the one thing you should
check is wether your policy defines "models" as "aircraft".
It is easy to find. look under "exceptions" and you will find the
aircraft related activities. Then look under the "definitions". You
should find that "models" are exempted from the "aircraft" limitations.
Every policy I have reviewed has this set of relationships. But check to
make sure.
The exemptions referred  to as motor driven hobbies are for the "man"
carrying type such as snow mobiles, and off road vehicles, and they DO
NOT  pertain to hobby models!

With all of that being said, you will still have to document your loss. I
have never een a "floater" aimed at models. The model activities will be
covered under the "contents" portion af your policy, and for that reason
you should be careful to have enough coverage. Most of today's HO5
policys give you the same amount of coverage for contents as you have on
your home. Therefore a $100K home would hae another $100K available for
contents, for a total of $200K. 

In my case, I can document over $20K, just in my hobby stuff. With a
house insured for $90K, that leaves another $70K for the rest of the
household contents. For me, that would be just about right. Give me
$180K, and I'll walk out tomorrow!

Hope this clears it up a little for those who may be affected. Also
beware that some of these things different from state to state, so while
I know the laws in NY, they MAY not be the same in your state, but they
should be pretty close.

Terry T.


On Wed, 1 Sep 2004 12:38:40 -0400 "cameron" <dentdoc007 at bellsouth.net>
writes:

-----Original Message-----
From: cameron [mailto:dentdoc007 at bellsouth.net] 
Sent: Wednesday, September 01, 2004 12:35 PM
To: 'tony at radiosouthrc.com'
Subject: RE: AMA Insurance


Tony is correct. I have made a 24,000 dollar claim within the last two
years on JUST MODEL Airplanes & IF you can't prove what you had, Your out
of luck.
 Document EVERYTHING you own! Review your insurance coverage limits &
riders. Most Homeowners policies limit your benefits to Jewelry, Guns,
Furs, Currency,Stamp collections, & yes Motor driven hobbies. Especially
AVIATION related activities. I cannot say this enough READ THE FINE PRINT
in your POLICY! 
 IF the coverage is NOT sufficient ADD RIDER coverage's. 
  God bless the souls affected by this past & forthcoming weather! Large
Insurance claims are a B!t at h. All you can do is try to get close to what
you had!

 BTW is this weekends Jacksonville contest a GO?  
-----Original Message-----
From: discussion-request at nsrca.org [mailto:discussion-request at nsrca.org]
On Behalf Of tony at radiosouthrc.com
Sent: Wednesday, September 01, 2004 9:49 AM
To: discussion at nsrca.org
Subject: Re: AMA Insurance


Tom:
Make sure your airplanes are included in your homeowners policy.  I would
do an inventory, complete with video and take it with you.  
Tony Stillman
Radio South
3702 N. Pace Blvd.
Pensacola, FL 32505
1-800-962-7802
www.radiosouthrc.com
----- Original Message ----- 
From: Tom Hinton 
To: discussion at nsrca.org 
Sent: Tuesday, August 31, 2004 6:49 PM
Subject: AMA Insurance


Does the AMA insurance cover losses due to hurricanes? Looks like we will
be bugging out later this week and my planes will not make the traveling
squad. Any suggestions?
Tom
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