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CT4ME

Insurance Prices - Dropping?

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CT4ME   

After a heads-up from another CTFlier, Pete, I just checked insurance pricing (mine's due in a month).   Wow, the prices are way down!  My current agent, Jon Shimer with Aviation Insurance Resources, came up with a rate of $888.  I think Pete's rate is around $800.   This is about $500 less than last year, down some 35+%.

 

My current quote is for "Hallmark Aerospace Insurance Managers", and includes a bunch of things like:

$1Million, $100K, $0 deduct (moving/non-moving) and

+ OPC waiver for FAA authorized repair facilities

+ Bahamas & Caribbean extension (excluding Cuba and Haiti)

+ Unearned Premium Insurance

+ Spare Parts Coverage

+ Emergency Landing Expenses covered

+ Trip Interruption Coverage

+ Portable Avionics Coverage

+ Hurricane Protection Coverage

+ Aircraft Value Appreciation

+ Baggage Liability

+ Liability For Sale of an Owned Aircraft

+ Damage to Non-Owned Hangars and Non-Owned Contents

+ Airport Premises Liability

+ Search & Rescue expenses

+ Temporary Use of Aircraft Expenses

+ Non-Owned Hull Coverage

 

Anybody know anything about Hallmark Aerospace Insurance Managers?

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CT4ME   

After a bit of research, it looks like Hallmark bought Aerospace, which was AIG's aviation insurance group?  Anybody?

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Anticept   

Make sure you READ YOUR POLICY and compare it to last year's policy. I would be very suspicious of such a drop. There might be some unforeseen exclusions in your new plan.

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My commercial policy dropped in price this year by about $1,000 with major no changes to the policy. IIRC there were a couple things added, and nothing taken away.

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After a heads-up from another CTFlier, Pete, I just checked insurance pricing (mine's due in a month).   Wow, the prices are way down!  My current agent, Jon Shimer with Aviation Insurance Resources, came up with a rate of $888.  I think Pete's rate is around $800.   This is about $500 less than last year, down some 35+%.

 

My current quote is for "Hallmark Aerospace Insurance Managers", and includes a bunch of things like:

$1Million, $100K, $0 deduct (moving/non-moving) and

+ OPC waiver for FAA authorized repair facilities

+ Bahamas & Caribbean extension (excluding Cuba and Haiti)

+ Unearned Premium Insurance

+ Spare Parts Coverage

+ Emergency Landing Expenses covered

+ Trip Interruption Coverage

+ Portable Avionics Coverage

+ Hurricane Protection Coverage

+ Aircraft Value Appreciation

+ Baggage Liability

+ Liability For Sale of an Owned Aircraft

+ Damage to Non-Owned Hangars and Non-Owned Contents

+ Airport Premises Liability

+ Search & Rescue expenses

+ Temporary Use of Aircraft Expenses

+ Non-Owned Hull Coverage

 

Anybody know anything about Hallmark Aerospace Insurance Managers?

My policy is with Hallmark through Falcon Insurance in Kerrville, TX.  I've been very happy with them.  I have no claim history so can't comment on response to claims.  I understand they're a AAA rated company.

 

John

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CT4ME   

'only thing I've found is no terrorism coverage (TRIA), and the Open Pilot Coverage now specifies 1,000 hours total and 25 hours in make/model.  I'm surprised my previous policy did not state any minimums.

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Tip   

I spoke with my carrier, Avemco, today. My premium is the same as last year, no drop in price.

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aldowns   

I got a 37% decrease by shopping my carrier. Agent was not wanting to lose me with 5 planes so he was able to salvage my business by beating the competition.

 

Steve Neely

Aviation Insurance Managers of Ohio.

 

Might be worth a call.

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andyb   

My agent shopped the market, and the best deal was with my current carrier, and at a price identical to last year.

 

I carry a lot of liability insurance, with no sublimits ("smooth"), so I expect it's a narrow group of carriers that will insure a LS to those levels. 

 

Andy

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Do insurance agencies usually require check out in CT's before they will cover you? Also what can a low time Commercial Helicopter pilot with ASEL PPL expect to pay w/ 80k hull? I have:  ~500hrs rotary w/ instrument rating and ~50hrs in ASEL, 30 of which were in a LSA Valor-22. 

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