Insurance bump

[eltee]

Just had AIG raise my premium costs approx 40%.

Spoke to a rep who blamed "retract gear losses" with Mooney at the head of the field.

Any common experience?

[ArtVandelay]

Just had AIG raise my premium costs approx 40%.

Spoke to a rep who blamed "retract gear losses" with Mooney at the head of the field.

Any common experience?

Yes, AOPA switch me to Global

[N601RX]

Although my renewal is still 3 months away I received the attached letter a few weeks ago informing me that they were increasing my premium and reducing my coverage.

 

[kevinw]

Same thing happened to me. I was told it's there way of telling you they don't want to insure you anymore. My agent switched to a different company and it actually went down a little.

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[cnoe]

Just had AIG raise my premium costs approx 40%. Spoke to a rep who blamed "retract gear losses" with Mooney at the head of the field.

Any common experience?

Yes, AOPA switch me to Global

+1

... and got a better rate with same coverage.

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[gsengle]

Time to call AOPA

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[Zwaustin]

I was with US specialty through AOPA. Same thing, same excuse of increase in gear up landings. Called Bill White insurance and they were able to drop it 600 bucks through specialty aviation underwriters. Then called AOPA back to negotiate and they got US specialty to dropped it roughly 400 to try to keep me but I went with BWI this year. Currently have zero deductible and same coverage as before through AOPA/ US Specialty. PM me for premiums. 

[ArtVandelay]

Absolute values are kinda of useless, I would expect a 2007 Acclaim to cost a lot more than 1963 C, better to give % of hull value.

[ArtVandelay]

Just had AIG raise my premium costs approx 40%. Spoke to a rep who blamed "retract gear losses" with Mooney at the head of the field. Any common experience?

Yes, AOPA switch me to Global

+1

... and got a better rate with same coverage.

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Ditto but I went from 70 hrs in type to over 200, so can't tell how much reduction was due to that.

[buddy]

After reading this I called my insurance broker D.R. Cox & Company (Jeff) and told him what I had read on Mooneyspace.  I have a 2005 Ovation with G1000's and let him know that they give and oral warning, gear, gear, gear and stall, stall, stall not just a buzzer that goes off.  Jeff recommended that I when I fill out my next insurance form in 2 months that I add that note on it as it will help in negotiating for a lower quote for my new insurance policy.  Jeff also informed me that Mooney's were not the problem with gear up landings it has mostly been Bonanza's.  I have used D. R. Cox (Jeff) for many years when insuring my M20J and now my M20R and I am very happy with his quotes. My friends have also used him and have been happy.  In case your interested in calling for a quote on your next Aviation Ins. Policy his phone number is 865-588-2448.

[rbridges]

I left Starr a few years ago because of a crazy premium leap.  I figured they were trying to get out of the less expensive aircraft segment.

[M20F]

Falcon insurance.  MAPA reccomended and zero issues in terms of communication, price, etc.  A lot of happy M'Spacers with them so not sure why more aren't given all these posts lately about insurance issues. 

[Hank]

Just got my renewal quote from Falcon this evening (6:00 PM!). It's going down almost 12%, it's now in the range of my cars. And the last year was the fewest hours I've ever flown . . . Just because I changed jobs, moved myself (no moving company), than changed airports where the plane is based.

But I like where I am now:  the house,mthe location, the job and the airport. Small Southern towns rock! Mine has an estimated population of 1015, up from the 1001 in the 2010 census. The runway is 3200' with a full length taxiway; my first one was 3000' with no taxiway, just an entrance 1000' from the preferred end. I was afraid leaving the 5000' long, fully-fenced, gate-coded airport with a manned FBO for an unfenced, unmanned shorter field with no fuel would raise my rates.

So color me even happier with Falcon! This will be my second renewal with them (about to start Year #3), and my rates have now fallen 23% since my last pre-Falcon year of 2013.    Call 800-880-6272, ask for Cliff. Thanks for the referral a couple of years ago, Parker!

[Jeff H.]

On 6/28/2016 at 6:49 AM, N601RX said:

Although my renewal is still 3 months away I received the attached letter a few weeks ago informing me that they were increasing my premium and reducing my coverage.

 

Received a similar letter in the same time frame - except without the "agreeable to renewing this policy" wording - just flat out said they were not renewing.  No claims, no FAA actions.  

Falcon is shopping the policy and we'll see to what result . . .

[PaulB]

My policy went down this year.  Used Cliff at Falcon.  He's great and knows Mooneys.

[GeorgePerry]

Timing of this thread is pretty good.  Top 5 Insurance FAQ's discussed here by Jim Pinegar.

http://insurance.aopa.org/About/news/Articles/2016/June/Best-of-Ask-Jim?utm_source=ePilot&utm_medium=Content&utm_campaign=AOPAIS&utm_content=Best-of-Ask-Jim

 

[dfswing2]

I am a new Mooney owner (1 year) and started out high but have over 140 hrs in the Mooney and 170+ hours in the last year.  My insurance for the second year is 60% of the first year.  I utilize Aviation Marine in Oakland, CA who shops it with multiple carriers.  I don't know how much of it is experience in the plane vs annual flight time but was greatly appreciative of the work Todd Lewis did to get the rate reduced.

[Robert C.]

On 6/29/2016 at 6:37 PM, PaulB said:

My policy went down this year.  Used Cliff at Falcon.  He's great and knows Mooneys.

ditto, went down about $600. Cliff found the best rate for me at QBE which is a renewal from last year. So no change in carriers needed

[Pritch]

Same here with Falcon, stopped flying for 13 yrs and started again last Oct. brought a 84 m20k in Feb and insurance was only 1100 and they still had me in their records.

Pritch

[Culver LFA]

Just got my renewal today, my insurance premium was reduced by $17.00!  I'm insured with Global Aerospace through Aviation Solutions (Dana).

[gsengle]

I did my renewal with AOPA, ended up switching carriers, dropping AIG. Was looking at a $700 increase and instead saved a couple dollars.

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[DrBill]

mine went up from 840 to 872 for 60k. but i'm increasing  the coverage to 70k since I just got a major OH.  for 70k it is 947.

through Falcon.

Bill

 

[Guest]

I can't believe how little some of you are paying for insurance.  Just renewed my RV4 at 1517.00 plus 8% tax.  The 400 is next at 2900 plus 8% tax.

Clarence

[drapo]

Clarence, my fellow canadian, just got my estimate from Marsh. Raised insured value $15k to cover last year's improvements, kept $2 millions liability and premium stayed the same for my Super 21 at $1850 plus tax. 

[Hank]

Just got a letter from my non-aviation insurance company. While my airplane insurance fell by 11+%, my auto insurance is rising by exactly 10%. It sounds like a general rate increase . . .