Jump to content
Sign in to follow this  
procharger

Insurance CTSW

Recommended Posts

$1,500 for a 2014 CTLSi with $100,000 hull coverage.  Gregg Ellsworth with Aviation Insurance Resources has found me the best rates for the past couple of years.  He's a super nice guy.  Give him a call 301-682-6200.

 

Share this post


Link to post
Share on other sites

My aviation business insurance went up 15%, and I have heard of others that went up 25%. The companies have been saying that they are operating at a loss, and at least 2 companies have left the market. Them leaving the market is a pretty good indicator that they were not making any money.

Share this post


Link to post
Share on other sites
3 hours ago, Andy A said:

Gregg Ellsworth with Aviation Insurance Resources has found me the best rates for the past couple of years.  He's a super nice guy.  Give him a call 301-682-6200.

x2

Share this post


Link to post
Share on other sites

Mine went down buy $100 this year but it was higher than what you all have quoted.

$2300 but that covers anyone who flies it with no required hours in type limit.

I'm a new pilot though, just got my first 100 hours.

Share this post


Link to post
Share on other sites

My policy ending in May with Falcon is $1100 and change for $89K hull. Renewal will be $1700 for the same coverage. The only other offer was $2900.

This is with near 6,000 accident/incident free hours and most ratings including rotor head (Hi Bill) but not ATP. They swear my age, 75, is not a factor. It's just that the industry is having a hard time. I read an article a couple of months ago saying rates were going up.

I probably should have lowered the hull value to a more reasonable number. Next year.

 

Share this post


Link to post
Share on other sites
10 minutes ago, sandpiper said:

My policy ending in May with Falcon is $1100 and change for $89K hull. Renewal will be $1700 for the same coverage. The only other offer was $2900.

This is with near 6,000 accident/incident free hours and most ratings including rotor head (Hi Bill) but not ATP. They swear my age, 75, is not a factor. It's just that the industry is having a hard time. I read an article a couple of months ago saying rates were going up.

I probably should have lowered the hull value to a more reasonable number. Next year.

That's quite a hike.

Mine does not come due until next December. Gonna be interesting.

Share this post


Link to post
Share on other sites

Mine almost doubled✈️ no claims. FAA should allow us to charge for rides to offset this BS.

Just a matter of time GA will fail. I need Trump to send me some flying $ so I can social

distance more.😀

Share this post


Link to post
Share on other sites

I started out going without decades ago. Had nothing to lose back then. So, if things get too out of hand I may go with only liability.

 

Share this post


Link to post
Share on other sites
On 4/27/2020 at 7:35 PM, sandpiper said:

I started out going without decades ago. Had nothing to lose back then. So, if things get too out of hand I may go with only liability.

 

That would be sad, but I might do the same if the numbers get too wacky.  I hate that big airliner accidents like the 737 MAX debacle raise the rates for use tiny fish, since we are so different that we might as well be in sailboats.

Also I think the unlimited money printing by the Federal Reserve is starting to drive up prices on everything.  My grocery bill is about 40% higher in the last year or so.

My rates started at around $1500/yr with $75k hull coverage, and steadily went down a bit every year to about $1250.  Then last year they jumped back to about $1400.  I fear this year they will go up yet again. 

Share this post


Link to post
Share on other sites

I just paid off my plane this year  ( got it in 2017 for 110k ) so I am free to drop the hull insurance altogether - I am not sure I will do that though because , well, that’s a lot of money 🙂 and while I don’t plan to crash anytime soon , still, shit happens ( look at what happened to Ed Cesnalis ) ...so I will try to keep at least 70k or so ...

Share this post


Link to post
Share on other sites
45 minutes ago, Warmi said:

I just paid off my plane this year  ( got it in 2017 for 110k ) so I am free to drop the hull insurance altogether - I am not sure I will do that though because , well, that’s a lot of money 🙂 and while I don’t plane to crash anytime soon , still, shit happens ( look at what happened to Ed Cesnalis ) ...so I will try to keep at least 70k or so ...

I would keep enough hull that you could replace the depreciated cost of the airplane, if at all possible.  Going without would be a last resort for me.  Personally, it would be a hardship for me to replace my CT out of pocket.

Share this post


Link to post
Share on other sites

I considered going without as well, my rate as low time in type new owner was around $1200 with $51k hull, I had a quote as low as $800 in the mix, but required me to base at larger county airport - many companies shy away from a shorter private grass strip.  In the end I view insurance a fairly good value when you compare to an automobile.  In Michigan our rates on vehicles are crazy high.  One could likely part out a damaged aircraft to some extent, but still see too large of gap to go without when looking at cost v/s risk.

Share this post


Link to post
Share on other sites
2 hours ago, FlyingMonkey said:

I would keep enough hull that you could replace the depreciated cost of the airplane, if at all possible.  Going without would be a last resort for me.  Personally, it would be a hardship for me to replace my CT out of pocket.

Yeah, that’s what I am thinking as well. I am gonna keep enough hull to equal what I put up out of my pocket back in 2017 , which accidentally would be enough to get a replacement with <500 hours should anything happen.

My wife is very understanding and supportive of my plane hobby but not THAT understanding ...

Also , with the economy in the toilet for another 5 or so years, I fully expect prices for used LSAs to go down 30% or more..

Share this post


Link to post
Share on other sites
53 minutes ago, Warmi said:

Also , with the economy in the toilet for another 5 or so years, I fully expect prices for used LSAs to go down 30% or more..

Seriously doubt any of that.

Share this post


Link to post
Share on other sites
26 minutes ago, WmInce said:

Seriously doubt any of that.

I am a firm believer in market efficiency so I don't doubt market ( and I do mean Main Street not Wall Street ) will recover - people always do their best when given enough freedom.

That's not what I am worried about - this is what I am worried about

https://www.bizjournals.com/nashville/news/2020/04/28/cooper-enormous-32-tax-hike-needed-to-endure-covid.html

I can guarantee you that every jurisdiction is working on something similar and they will attempt to target everyone  , businesses and individuals alike .

 

Share this post


Link to post
Share on other sites
49 minutes ago, Warmi said:

. . .  this is what I am worried about . . . 

I  can guarantee you that every jurisdiction is working on something similar and they will attempt to target everyone  , businesses and individuals alike.

Concur with that.

There just about isn't any way around that. I believe current administration will do everything under the sun to avoid raising taxes. It will be interesting to see if they succeed. OTOH, the other side would delight in raising taxes through the roof. It is a big part of their permanent platform.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...