Insurance

[Philip Welsch]

Anyone using AVEMCO. I have had AIG for 10 years. My broker of 20 years sold his bookings and retired two years ago and my cost with AIG has increased $1100 during that period. Don't know if the problem is the broker, AIG or the market in general.

[Roger Lee]

$1100 is still cheap and when you get up into those 70's insurance starts to creep up. If you think $1100 is expensive wait until you hit 80 years old. 

[Garrett Gee]

I got a quote from a local broker as well as from Avemco.  Avemco, at least for me, was actually about $300 more than the local broker (underwritten by AIG), and provided less per person coverage.  Rates for me are about $1400/yr for a $1,000,000 per incident/$100,000 per person policy, with an agreed valuation of $100,000 for hull loss.  It also has an open pilot clause that sates any pilot I authorize can fly the aircraft without being named on the insurance, as long as I provide them with 3 hours of training.

[Philip Welsch]

Thanks, my coverage with AIG is identical to yours. The cost has increased to $2750 during the past two years.

[Tip]

Hi Philip, 

Call AOPA.

[paul m]

Just went through it.  $120k hull.  $1mm/$100k per passenger.  Didn’t bother checking Avemco this year. 

 

 

[Warmi]

I got $1700 per 120k hull/ 1 million liability at AIG.

I am a low time (160 hours) pilot in my late 40s.

[WmInce]

Thank you for sharing.

My renewal is due in December.

[AGLyme]

Thank you all for posting...  and Paul... for the list.  I will be buying insurance for the first time shortly... and I too am a low time pilot.

[Roger Lee]

Chris Wolbert at Aviation Resources. 301-682-6200. he can usually get you a better rate than going straight through to folks like AIG. Won't hurt to give him a call. Many here switched to AR.

[FlyingMonkey]

Just now, Roger Lee said:

Chris Wolbert at Aviation Resources. 301-682-6200. he can usually get you a better rate than going straight through to folks like AIG. Won't hurt to give him a call. Many here switched to AR.

That's who I use.  My CTSW with $75k hull started at ~$1400/yr when I had about 40 hours total time, and has gone down steadily.  Latest renewal was at $1050 for the same hull with about 600 hours TT.

[Runtoeat]

I'm also with Chris Wolbert @ Aviation Resources - same as Roger & Andy.  My insurance for my 2006 CTSW with $90K hull is $1070 for the coming year.

[Tom Baker]

I was talking with a friend a few days ago, and his insurance is just about to renew. One of his airplanes went up $400. he said his broker said insurance is going up across the board right now. I remember my broker telling me the same las spring when I renewed, but mine stayed the same. I am expecting an increase next year. Mine is a commercial policy, so the increase may not be representative to an individual owner.

[FlyingMonkey]

1 hour ago, Tom Baker said:

I was talking with a friend a few days ago, and his insurance is just about to renew. One of his airplanes went up $400. he said his broker said insurance is going up across the board right now. I remember my broker telling me the same las spring when I renewed, but mine stayed the same. I am expecting an increase next year. Mine is a commercial policy, so the increase may not be representative to an individual owner.

Hmmm...mine went down over $200 in June.

[Philip Welsch]

Thank you guys for the discussion. I'm PPL, SEL and Glider, 3000 tt, 1000 in CTLS, no accidents, incidents or violations. I'm 68 and shouldn't be having this issue just yet.

[sandpiper]

I go through Falcon. For several years now they have put me with Global Aerospace. I'm 74 now and rate has actually been creeping downward but that is probably due to reducing the hull coverage. This year it's $1140 with $89K on the hull. About 5200TT with no accidents or incidents.

[FlyingMonkey]

Another possibility for insurance, as long as you don't owe anything on the airplane, is to simply drop hull coverage and have liability only, and drop your rate by about 75%.  it would make me nervous, but some folks are okay with that.

Another option is to only drop hull for "in motion" incidents, so you'd still be covered if a meteor struck your hangar.

I'm pretty risk averse, financially speaking, so I don't generally recommend this...but if you are old enough or have an accident history that makes insurance unaffordable, you do have options.  One positive side effect is that you'll probably fly more conservatively if you know any damage is going to come out of your pocket at 100%! 

 

[sandpiper]

In Alaska back in the '70's I had no insurance of any kind on my first couple of planes. As I started to move up to more expensive planes my wife asked if we could afford the loss. She added that if I wrecked the plane with no insurance she would not support coming up with the cash to fix or replace it. She was also concerned about liability and losing the few assets we had if I hurt or killed somebody. Damn logical women!

So, full coverage ever since although I'm not sure how far the liability coverage would go.

 

[mikey70]

I checked AVEMCO and AOPA and went with AVEMCO because they had the same coverage for a few hundred less. I just got the CTSW less than a month ago, have not flown in 20 years but have a PPL/Instrument and 1200 hrs. The usual 100K/1M limits and 60K hull for $1089. There is a $ 1000 deductible which some policies don't have. They said to expect lower next year when i have more time in the CT but probably not more than $100 less. 

[Andy A]

I renewed yesterday with AOPA.  I went with the $1,000,000 combined single limit and $100,000 hull value for $1,547.00.  2014 CTLSi.  The other option was $1,187 for $1,000,000 each occurrence limited to $100,000 per passenger.  We used Travers Insurance for years and they always had pretty good prices.  That is Travers...not Travelers.