Insurance

[Bob_Belville]

Does anyone use Starr Aviation Insurance? They've quoted my agent 20% lower than my current carrier's renewal rate. I'm always suspicious of a low price.

[carusoam]

Could be the market...

Two years of declining insurance cost, using the same broker.

Best regards,

-a-

[orionflt]

I stayed with QBE after having to submit my claim, their rates stayed the same so i didn't see a reason to change.

[Bob_Belville]

Hum, my old company, QBE, quoted 18% increase which is why I had my agency seek comparison... I suppose my prop strike might be involved though I was told it should not be a factor...

[N601RX]

I shopped extensively outside my normal agent this year and ended up moving after finding out my agent wasn't getting quotes from all the underwriters. Starr had the second best quote, US specialties had the best. Of the ones that they provided me policies for I read them very carefully and there were some differences. Other than deductibles the major thing I noticed was that some were written much more strictly. Some flat out stated they would deny coverage if out of annual, or for expired annual, while another one specifically said they would not deny coverage for either of these if they expired mid year. The stricter one was the cheapest and the most generous one cost the most. I did not see a problem with complying with the conditions of the more strict one and went with it.

[Mooneymite]

One of my neighbors who recently moved south, was an exec with Starr.  Apparently quite legitimate.

 

My agent querried Starr on a couple of quotes, but they weren't competitive at that time.  I'd have gone with them if they were.

[rbridges]

that's odd.  I used Starr for 2 years and got a quote for year 3.  Huge increase.  Even with instrument rating and more hours, my rates went up quite a bit.  I changed to another carrier.  Strange that Starr came in low for you.

[N601RX]

that's odd.  I used Starr for 2 years and got a quote for year 3.  Huge increase.  Even with instrument rating and more hours, my rates went up quite a bit.  I changed to another carrier.  Strange that Starr came in low for you.

This is the same thing that got me to asking questions and looking around. It very well may be that after a couple of years with the same company they think they can slip an increase through and the owner will keep them. At the same time a new company may be willing to discount the price just to build market share with the idea to increase your rates in a year or two.

[Mooneymite]

that's odd.  I used Starr for 2 years and got a quote for year 3.  Huge increase.  Even with instrument rating and more hours, my rates went up quite a bit.  I changed to another carrier.  Strange that Starr came in low for you.

In my experience this has more to do with the agent, than the underwriters.

 

My experience has been that after the first renewal, your agent figures they've "got you" and you won't bother shopping the market any more and the quotes go up.

 

When you DO shop the market, DO NOT use an 'N' number; it will lock you in.  It's rigged so agents won't compete against each other with price.

 

You have to keep 'em honest by looking around.

[Bob_Belville]

My anniversary date is Monday and my agent is working from home today -- snow. I need to confirm fine print but for my $100,000 hull and standard liability QBE wants to go from $1230 to $1459. STARR is quoting $1161. 

 

This is complicated since my plane is to be ferried here next week, on the new policy, so I need to be sure the pilot is acceptable. My current policy requires pilots other than me have inst rating, 750 hrs, 150 retract and 25 in type. I think these clauses vary a good bit.

[Bob_Belville]

Nothing is ever simple. This is my 3rd year with this plane. I switched agents last year and underwriters. This is the 1st renewal with QBE.

 

OTOH, I'll be 71 in a few weeks and I understand the number of underwriters taking on new business will be getting more restricted.

[Mooneymite]

 

 

This is complicated since my plane is to be ferried here next week, on the new policy, so I need to be sure the pilot is acceptable. My current policy requires pilots other than me have inst rating, 750 hrs, 150 retract and 25 in type. I think these clauses vary a good bit.

 

I would think you'd want a ferry pilot with at least those qualifications!

 

Where's it being ferried from?  Is it far?

[Bob_Belville]

The pilot does have far more than those qualification. Probably doesn't matter, risk is risk, but the flight is from 6B6 (MA) to KMRN (NC). My concern would be what the new policy required.

[DonMuncy]

One thing I don't see in insurance discussions is the question of age. I may be wrong, but I believe that if you have been with a carrier for a length of time, they are less likely to decline to cover you at a particular age. At age 75, I am disinclined to change carriers to get a better premium. 

[Bob_Belville]

The pitfalls of doing business by brief emails. Turns out the STARR quote is for $60k hull (their max for a '66E) my agent made a typo "STARR will only go $100,000". She knew we needed $100,000 and that number got mixed up in her note.

 

So.I guess QBE it is @ 18% up. . 

 

Might be just as well given the open status of the prop strike claim. (They may want to judge some of the work as unrelated to the insured event.)

[Bob_Belville]

One thing I don't see in insurance discussions is the question of age. I may be wrong, but I believe that if you have been with a carrier for a length of time, they are less likely to decline to cover you at a particular age. At age 75, I am disinclined to change carriers to get a better premium. 

Yes Don, I did mention that above. I think we had a thread on exactly this issue a few months back. (But at your age you might not remember.)    

[DonMuncy]

I'm sure you are right. I didn't remember it. Thanks.

[Bob_Belville]

Don, here's the thread I remember. Not as much about age as I thought. I think there was a similar discussion on the MAPA discussion group.

 

http://mooneyspace.com/topic/9561-insurance-renewal-time/?hl=hull#entry107721

[pinerunner]

I had Starr last year since they came in lowest and this year they went up.  My agent found a much better quote from another company (about $850 with 35k on hull) so I went with them. What I recall most was that the rates changed and fast. Something about general aviation being a small market. I worried a bit about them actually paying claims versus using excuses not to.  My mechanic/inspector told me not to worry. He's been involved a few times with aviation insurance adjusters after accidents and they're reasonable.

 

I gave up on predicting insurance prices after seeing the range and change of quotes this year.

 

I think having the commercial helped me get a lower rate even though I've only got 400 hrs total. I had fun getting that license so I recommend it even if you never fly for money.  Also I flew just over 50 hrs last year which must have helped.

[Danb]

My agent seems to be changing carriers every year or so now, I have about 375k hull and Starr went up a few hungry, my agent notified the new carriers I just completed the money PPP and go somewhere every year or two for recurrent training, the new carrier came in about $750 cheaper, seems like some kind of game..my buddy with brand B had a substantial increase? Who knows. Kind of a racket

[Bob_Belville]

Well, I certainly cannot complain about QBE in their handling of my prop strike claim. 

[DrBill]

I had AOPA(chartis) until this year.. The proposed a flat (no increase) until I asked for 10 K more in hull value , then they went up. SO I got a quote from our friends at FALCON and it BLEW THEM AWAY !

When I called to cancel , they offered me a lower price!! I told them to shove it, they should have offered me the lower price at the start since I was with them for 10 years !

BILL

[orionflt]

My anniversary date is Monday and my agent is working from home today -- snow. I need to confirm fine print but for my $100,000 hull and standard liability QBE wants to go from $1230 to $1459. STARR is quoting $1161. 

 

This is complicated since my plane is to be ferried here next week, on the new policy, so I need to be sure the pilot is acceptable. My current policy requires pilots other than me have inst rating, 750 hrs, 150 retract and 25 in type. I think these clauses vary a good bit.

when I closed mine out I just sent in the final bill, Bob called to clarify what was included in the bill, then he deducted for the cam and a few other things that were not covered submitted the claim and i had a check with in 2 days. He also paid for a lot of the incidentals that were needed because of the work such as the oil and filer. My mount also needed to go out for work but that was approved before being sent out.

 

brian

[Parker_Woodruff]

Starr is an excellent company and their policy is very broad.  I would highly recommend insuring with them.

 

In my experience this has more to do with the agent, than the underwriters.

 

My experience has been that after the first renewal, your agent figures they've "got you" and you won't bother shopping the market any more and the quotes go up.

 

When you DO shop the market, DO NOT use an 'N' number; it will lock you in.  It's rigged so agents won't compete against each other with price.

 

You have to keep 'em honest by looking around.

 

This is not an accurate sentiment.  Very few markets of light piston Pleasure & Business use aircraft actually block the N-numbers.  This only should occur 100% of the time with the present market.

[Parker_Woodruff]

Nothing is ever simple. This is my 3rd year with this plane. I switched agents last year and underwriters. This is the 1st renewal with QBE.

 

OTOH, I'll be 71 in a few weeks and I understand the number of underwriters taking on new business will be getting more restricted.

 

If you're 71 and with QBE, then stay with QBE.