Insurance renewal

[Raptor05121]

My insurance broker e-mailed me. My insurance runs out tomorrow, but I don't think I am going to renew until my plane is signed off from annual (whenever that may be).

But. My current insurance (Starr Aviation) quoted me the exact same as last time $1,349 for 500k liability and 35k hull. But he also found another company for $800 and some change, but they also have a deductible.

I'm obviously looking at that 40% savings, because a deductible seems like a small price to pay in the rare event something does happen. Thoughts?

[DrBill]

give Falcon a chance.. I'm with them

Bill

 

[N601RX]

You might consider keeping ground not in motion.  It will only cost a few hundred and will cover you if a storm or something else happens.

[Guitarmaster]

I have Travers and Associates.  1,000,000/100,000, not in motion, etc. Hull value at 70,000.  Slightly less than $800/yr

 

[Bennett]

I've been using Travers for the last few years, and I know they shop a variety of carriers. So far I feel they are excellent aviation insurance brokers

[Hank]

My insurance fell from ~$1600 to ~$1100 when I finished my IR ($65K hull, 1,000,000/100,000, zero deductible motion/not in motion. Then I relocated and changed to Falcon, and it's been going down every year, now well under $900. 

The first thing I noticed about your quotes is the limits are half of what I'm used to to seeing . . . But your rates are higher. 

Call Falcon.

[Guest Mike261]

i have found AOPA has the best rates.

Mike

 

[RLCarter]

I only had Hull Not in Motion while the plane was being worked on, easy to switch it over to Hull in Motion once your ready to fly. I'm through AOPA for about the same money, would have been cheaper but for some reason they had me down as having ASEL, Instrument Airplane and ATP....lol, should have kept the ATP on there

[Jerry 5TJ]

I buy all the "smooth" coverage I can get.  $1M  total / $1M per person is commonly available for a piston single.  $2M / $2M is available with some conditions.  

It is not the cheapest coverage. 

With liability limits of $500K total / $50K per person you are basically self-insured.  No one you hurt with your plane is likely to settle for $50K.  An offer of $1M might induce them to take the settlement now rather than wait years to win a judgement against you.   That's what an aviation attorney told me, anyway.  

If I couldn't afford both I would probably buy only smooth liability and do without hull coverage.   

 

 

[TheTurtle]

i barely have 100 hours and no complex time and mine is 1mil/500k for 1400/year. 35k hull coverage.   had a 5 hour CFI requirement before I can solo. 

[Guest]

If you can't afford to lose your investment in the plane, I'd insure it with not in motion until you're ready to fly.

Clarence

[bjoseph604]

I used AOPA and found it to be a very painless experience.  They arranged my policy through Global Aerospace for a very reasonable price.

[Sean S]

Starr though AOPA quoted me $1943, student pilot with just under 60 hours, no complex time.

[Hank]

32 minutes ago, Bayern Speed said:

Starr though AOPA quoted me $1943, student pilot with just under 60 hours, no complex time.

Wow! That's cheap! As a fresh PPL with 62 hours, zero complex and half owner, I paid $3100 for my first year . . . July 2007.

Rates have come down since then. I'm thankful that mine fell another 12% this year.

[LANCECASPER]

On 9/2/2016 at 7:14 PM, Raptor05121 said:

Thoughts?

I would definitely self-insure the first $2500 (deductible for in-motion) for $542 a year in savings.

[Raptor05121]

Can you guys divulge the difference between "All Risk Ground and Flight" versus "Ground not in Flight" and "Ground Not in Motion"?

[carusoam]

There are so many ways to lose a plane...  You don't have to be there to have somebody do it for you...

Being in a tie down and getting hit happens frequently.  Having somebody back into your prop can be a 60amu expense...

You don't want to go uninsured on either your plane or your health... The alternative is very expensive.

Like fatherly advice... 

Best regards,

-a-

 

 

[Marauder]

Can you guys divulge the difference between "All Risk Ground and Flight" versus "Ground not in Flight" and "Ground Not in Motion"?

I think "Ground not in flight" is a taxi accident or any incident the plane is under its own power. "Ground not in motion" is non-movement incidents like if it was stored in a hangar and the hangar was broken into and radios were stolen.

The "All" category is both included and also in flight coverage. Is there a different deductible and rates for the 3? If you plan on just storing the plane, the "not in motion" would be fine. If there is any chance it could be run in the ground and not flown, you want both ground coverage.

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