Supercop0184 Posted March 24, 2016 Report Posted March 24, 2016 Where have people found the best insurance quotes and how much were they. Im quoted 1616 for 50k hull value and no complex experience. AND they only require a sign off, no minimums. This pretty good?
Marauder Posted March 24, 2016 Report Posted March 24, 2016 It doesn't sound too bad. Did you get a few competitive quotes? Sent from my iPad using Tapatalk
Mike A Posted March 24, 2016 Report Posted March 24, 2016 I paid a little more (+/- $100) than that for my first year in my K with no complex or high performance experience, 80k hull value, instructor sign off and 10 hrs solo. I go through a broker and change my insurance company yearly based upon the best quotes. 1
1524J Posted March 24, 2016 Report Posted March 24, 2016 $1638 to have my son added to the policy. Hull value is the same as yours. He's got 80 hours total time. 2 hours instructed, 2 hours solo.
gsxrpilot Posted March 24, 2016 Report Posted March 24, 2016 SuperCop, that's what I paid the first year on my C. 300 hours in type and two years later, I just renewed for $800. That covers $60K hull, no deductible.
dcastor Posted March 24, 2016 Report Posted March 24, 2016 (edited) I just renewed my policy for $1061. I'm just over 300 hrs tt and about 150 hrs in type ($65k hull value). My insurance has been pretty close to this for the last few years. Falcon Insurance (a broker from Kerrville TX) does all the shopping around for you. This year they suggested I jump to a new company since the rates are a bit lower than US Specialty who it seems are raising their rates for everyone with RG aircraft. Edited March 24, 2016 by dcastor
carusoam Posted March 24, 2016 Report Posted March 24, 2016 I use USAA for my insurance needs. (Born into a military family). They sent me to Falcon. Brenda at Falcon made insuring my Mooney a fun, memorable, smooth, and predictable experience. My aged memory doesn't always work so well, but Brenda locked up a spot in there. Best regards, -a-
Cruiser Posted March 24, 2016 Report Posted March 24, 2016 Comparing insurance coverage can be difficult with all the variables involved. An easy was to determine "value" is to separate the liability cost from the aircraft cost. In other words, subtract the bodily injury and "other" damage premium which is always listed from the hull premium Normal 1,000,000/100,000 liability should cost around $250/yr. Hull coverage should be less than $0.015/1.00 To compare value divide the hull premium by the amount insured example: $1061 policy premium less $250 for liability then divide the difference $811 by the hull value $65,000 (811/65000)=0.0124769 which is less than the average so it is a good deal.
M20F Posted March 24, 2016 Report Posted March 24, 2016 Would add that I use Falcon and found them to be competitive. I don't worry so much about $100 on the renewal rate as I do ensuring it is with a company that when I need to total the plane out, they write the check.
bradp Posted March 25, 2016 Report Posted March 25, 2016 Falcon shops around, knows the market inside and out and is good to deal with. Give them a call. Maybe Parker can chime in. 1
RobertGary1 Posted March 25, 2016 Report Posted March 25, 2016 All reputable insurance brokers should be shopping the same companies so it really should make no difference which broker you call. Hours makes a huge difference. I pay around $600 for $70K but I can't in anyway compare that with someone with low time. Even the underwriter you get will be directly related to your experience. Many of the better ones won't touch you until you have retract time under your belt. So each year your broker should revisit which underwriter you have. I've always enjoyed working with Southwestern Aviation. -Robert
Hank Posted March 26, 2016 Report Posted March 26, 2016 3 hours ago, RobertGary1 said: All reputable insurance brokers should be shopping the same companies so it really should make no difference which broker you call. Hours makes a huge difference. I pay around $600 for $70K but I can't in anyway compare that with someone with low time. Even the underwriter you get will be directly related to your experience. Many of the better ones won't touch you until you have retract time under your belt. So each year your broker should revisit which underwriter you have. I've always enjoyed working with Southwestern Aviation. -Robert I agree with this sentiment, but when I moved I changed from a local WV broker that the PO had been using and I used for seven years to Falcon. Sent a PM to Parker, he responded with a phone number and Cliff's name, and my premiums fell by 15% ($1130 to $960 for $65K hull value). Go with Falcon!
Raptor05121 Posted March 26, 2016 Report Posted March 26, 2016 I used Aviation Insurance Resources. They shopped around for me. 35k hull, 80 hours total time, 0 in type, no complex, they hooked me up with Starr Insurance for $1600/yr. I dropped the 1m liability to 500k and it lowered my total to $1300
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