Insurance Increases

[Releew]

Has anyone noticed and increase in insurance costs this year?  I recently received a letter from my insurance company stating.... they will insure the aircraft but cannot provide the current premium price.  I expect a slight increase, but when I called to inquire it was over $500.00.  I've never had a aviation related claim, ever!  I was told... based on an increase of claims in my class/brand of aircraft, insurance on this equipment went up significantly.  I am looking elsewhere!

Are you all seeing this as well????

 

Rick

 

[DonMuncy]

I was told that AIG went up across the board on retractables, but Falcon got me a much better quote through Starr.

[ArtVandelay]

I was told that AIG went up across the board on retractables, but Falcon got me a much better quote through Starr.

Ditto, AOPA switched me to Global, my insurance dropped by 40%

[cnoe]

Has anyone noticed and increase in insurance costs this year?  I recently received a letter from my insurance company stating.... they will insure the aircraft but cannot provide the current premium price.  I expect a slight increase, but when I called to inquire it was over $500.00.  I've never had a aviation related claim, ever!  I was told... based on an increase of claims in my class/brand of aircraft, insurance on this equipment went up significantly.  I am looking elsewhere!
Are you all seeing this as well????
 
Rick
 

I'll let you know soon; my renewal is out for quotes right now. Like Don I ditched AIG last year due to a big price hike and found a much better deal. AOPA is my current broker but I hear great things about Falcon too.


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[Skates97]

Those of you with USAA might check out Falcon. I have my non-owners insurance through them that I got prior to my first solo flight. I didn't bother to see what the difference was between Falcon's regular rates and what I was being offered as a USAA member, but the rates they gave me as a USAA member beat AOPA and the others that I shopped with.

[Hank]

Mine renewed with Falcon in July, with a 12% decrease from last year.

[Robert C.]

Call Cliff at Falcon and tell him Mooneyspace sent you

He renewed mine in August for a nice reduction in premiums. I had asked him about the rumors about rates going up and if memory serves me correctly he didn't think that was the case across the board. Which he then proved with the improved quote .

Robert

[carusoam]

+1 Cliff, Falcon... Broker that seeks best value for you.  Knows Mooney and Mooney pilots....

Having higher hours and recency and IR always helps.

Best regards,

-a-

[carqwik]

Cliff Berthold (something like that) is with Falcon in Kerrville...I think he's done my insurance for the last 15 years or so...thankfully I only talk to him once a year at renewal time!!

[bradp]

Cliff since 2012- he's always been responsive and tries to find the best value for my needs. 

[Hank]

21 minutes ago, bradp said:

Cliff since 2012- he's always been responsive and tries to find the best value for my needs. 

Me, too, except I didn't move to him until 2014. Saved 20% the first year!and going down ever since. The key is flight hours each year, safety training and time with instructors.

 

[mooneyflyfast]

My insurance on my 81 J model renewed this month at same premium as last year.. USAIG

[clh]

I am seeing the same...... AIG apparently wants out of the retractable insurance business.  It looks like I will do my best to assist it.

[aaronk25]

AIG for 5 years (previously owned by chartis aerospace)

About $1,500 this year proposed $1,700. Switch to global for $995. Same coverage $1,000,000 liability 97.5k hull.


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[201er]

Cliff at Falconnot only gets me the best insurance rates, he also handles all of the complicated international insurance for my long trips.

[cnoe]

As promised here's an update to my October 19 post:

AOPA is my broker. After my previous company (AIG) proposed a large rate increase at the end of 2015 I switched to Global. The new Global renewal quote came in yesterday at the exact same rate as in 2016 (no increase for December 2016 - December 2017). I'm paying just over $1,000 for the standard coverage and a $90K hull value with ~600 time in type and an instrument rating.