CT4ME Posted June 20, 2010 Report Share Posted June 20, 2010 My Avemco insurance went down, again. After calling them with updated hours, and letting them know about ASF on-line classes taken... my rate went down about $400 ! It's now around $1900 /yr, which seems very reasonable for the $100K coverage. Newish pilot, no incidents, 275 hours - mostly in CT. How about the rest of you? What insurance? rates? experiences? Claim performance? I just got a thing from Avemco fully disclosing their denied claims percentages and reasons for denying claims... interesting reading. Maybe we can have a chat night with insurance reps... Tim Link to comment Share on other sites More sharing options...
sandpiper Posted June 20, 2010 Report Share Posted June 20, 2010 Avemco, $115K, $1700, no incidents, about 5000 hours. I could get 10% off that if I did the training they ask for. Link to comment Share on other sites More sharing options...
Roger Lee Posted June 20, 2010 Report Share Posted June 20, 2010 Hi Tim, Try Aviation Insurance Resources. Chris Wolbert, Regional VP, at 301-682-6200. I had Avemco, but these guys, which are major players, were down another $400 from Avemco. I have $110K no deductibles and pay $1616 because of my partner which has less hours than me. Won't hurt to give them a call. tell him I sent you if you get a quote. Link to comment Share on other sites More sharing options...
sandpiper Posted June 20, 2010 Report Share Posted June 20, 2010 I got a quote from AIR. They wanted $1900. Maybe I should have called back but I didn't feel like negotiating. They had already indicated that rates were going up with their next renewal on most policies. If there was room for negotiating that means they were jerking me around and I don't like that. I get enough of that when I buy a car. Link to comment Share on other sites More sharing options...
Roger Lee Posted June 20, 2010 Report Share Posted June 20, 2010 Hi John, With your hours you should be cheaper than me. You may want to call them back Link to comment Share on other sites More sharing options...
N78BZ Posted June 21, 2010 Report Share Posted June 21, 2010 My coverage in the first year, with USAIG through Aviation Insurance Resources, was $1330 (zero deductible). Upon renewal, it went up to $2075 in spite of my having an additional 100 hours all in type and no claims. When I first went with that carrier, they were new to the light sport marketplace and were pricing aggressively. After a year of experience, they found they had to raise their rates. Among the 5 carriers AIR shopped it to, they were still the lowest price, and also had the lowest deductible (still zero). Link to comment Share on other sites More sharing options...
Patrnflyr Posted June 21, 2010 Report Share Posted June 21, 2010 I just paid $2200 for the CTLS valued at $138K with Phoenix. I've got 700hrs with about 100hrs in type now. John Link to comment Share on other sites More sharing options...
Ed Cesnalis Posted June 21, 2010 Report Share Posted June 21, 2010 I recently paid $1,407 for this year. Hull coverage $80k Link to comment Share on other sites More sharing options...
N89WD Posted June 22, 2010 Report Share Posted June 22, 2010 I'm at exactly $1,200 per year with Chris at AIR. $90K hull coverage. Link to comment Share on other sites More sharing options...
airhound Posted June 25, 2010 Report Share Posted June 25, 2010 Regarding the recent brief discussion on the pros and cons of recertifying to ELSA. I'm guessing rates would rise however value would drop so insurance cost would be awash. Any SWAG on how much an SW would go down in value if ELSA'd? Link to comment Share on other sites More sharing options...
Mac Bowden Posted June 26, 2010 Report Share Posted June 26, 2010 In Ireland thro a U.K. company £1200 for £40,000 hull cover. It seems comparable with your rates. Mac Link to comment Share on other sites More sharing options...
Patrnflyr Posted June 26, 2010 Report Share Posted June 26, 2010 Hi John, With your hours you should be cheaper than me. You may want to call them back Well, my hull $$ amount is for $138K, which probably explains the difference. I'll probably lower that next year as the plane depreciates. Just can't make myself do it yet. (It's sad watching your $$ go down) John PS Just figured out you were talking to another "john" Link to comment Share on other sites More sharing options...
Roger Lee Posted June 26, 2010 Report Share Posted June 26, 2010 Hi John, The plane in the insurance company's eyes doesn't depreciate. If you total it they will give you the full valve of the policy. Not like a car where they give you less every year. You can reduce the amount it is insured for, but if something happens you would loose your investment above that lowered insured amount. I don't think there would be a big policy reduction if you went down to lets say $110K. Wouldn't hurt to ask them though. Link to comment Share on other sites More sharing options...
Adam Posted August 5, 2010 Report Share Posted August 5, 2010 2006 CTSW, 119 hours on airframe, $75k in hull value, brand spanking new sport pilot with 42 hours. USAIG through Falcon Insurance (EAA's Partner) $1733.00 for 12 months. They required 3 hours transition training (was flying PiperSport). I do keep plane in hangar. For a newbie pilot I didn't think it smelled too bad. That's for 0 deductible and for $1M in liability. Link to comment Share on other sites More sharing options...
207WF Posted August 31, 2010 Report Share Posted August 31, 2010 I am also at Falcon, 140K hull, $2100, 1$M liability, 2500 hours. I had a claim when my tire blew on landing at Henderson two years ago and took out the right wheel, pant and brakes. They were super with the claim -- absolutely great. WF Link to comment Share on other sites More sharing options...
S3flyer Posted August 31, 2010 Report Share Posted August 31, 2010 I'm contemplating moving from a tower controlled airport (7000' by 100' runway) to an uncontrolled airport (3000' by 60' paved runway) that is a bit closer to home a bit less expensive. Does anyone know if insurance would be the same? In other words, do insurance companies believe a tower lowers risk? Link to comment Share on other sites More sharing options...
Roger Lee Posted August 31, 2010 Report Share Posted August 31, 2010 Hi Dave, That's a good question. Please keep us informed after you call the insurance company. Link to comment Share on other sites More sharing options...
S3flyer Posted September 3, 2010 Report Share Posted September 3, 2010 My broker responded with: "I don't see the new airport being an issue, as it appears adequate for safe operations with your aircraft." Your mileage may vary. Link to comment Share on other sites More sharing options...
S3flyer Posted September 4, 2010 Report Share Posted September 4, 2010 Has anyone one been requested to add the hangar owner as a 'named insured' to their aircraft insurance policy? I jsut ran into this one and my knee jerk reaction is: heck no! Link to comment Share on other sites More sharing options...
Tony & Rose Posted September 4, 2010 Report Share Posted September 4, 2010 Standard procedure. Out here added insurer includes the actual hangar owner, the airport that the land is leased from, the city/county the airport resides in and the council or Board of Supervisors.... All named separately. Wait till you get into the County and State personal property tax requirements and forms. Really exciting... Link to comment Share on other sites More sharing options...
N78BZ Posted September 5, 2010 Report Share Posted September 5, 2010 Has anyone one been requested to add the hangar owner as a 'named insured' to their aircraft insurance policy? I jsut ran into this one and my knee jerk reaction is: heck no! I've had to provide that for both hangars I have rented. An email to the insurance agent takes care of it, no charge. Link to comment Share on other sites More sharing options...
S3flyer Posted September 5, 2010 Report Share Posted September 5, 2010 My issue is not with ease of adding a named insured but with the concept. The city of Addison tried a similar thing at KADS a few years back and couple groups fought and won. Basically, the 'named insured' extension of protection would have to apply to all users of the airport (transients, delivery people, etc) or none at all. Probably inevitable but I'm passing for the time being since I still have a choice. Link to comment Share on other sites More sharing options...
CT4ME Posted April 29, 2011 Author Report Share Posted April 29, 2011 'Glad to report my insurance is down to just a touch over $1500. Got quotes from some brokers and AIR (jon shimer) provided me with the best deal. I was paying about $2k through Avemco, but will be changing to Chartis Aerospace. No deductible, 1 million total combined, $100K per person, $100K hull, $5K medical per person... Tim Link to comment Share on other sites More sharing options...
airhound Posted April 29, 2011 Report Share Posted April 29, 2011 Those rates look fairly consistent over recent years. A year ago, I read somewhere that rates partially reflect the need for all pilots, even high-time-know-it alls, to recieve transition training. No argument here, how about out there? Link to comment Share on other sites More sharing options...
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