BorealOne Posted November 3, 2016 Report Share Posted November 3, 2016 (edited) I got my quote this am for my insurance renewals. I'm glad I was sitting down. I was quoted nearly $4500 this year for COPA VIP Gold coverage (which is by far the most popular aviation insurance package in Canada, sponsored by our affiliate of AOPA) with $250k (CAD - or about $190k USD) hull motion/not-in-motion + $2M smooth coverages for my Ovation. This is up by $600 over last year. I didn't think was me: I've got over 2000h TT, with over 1800h in high performance retractables, 1300h of that in my Ovation. I'm IR current and proficient. No claims or violations. So I asked, and was advised: " there’s been a rate increase on all retractable gear aircraft. Mooney’s specifically have consistently poor loss experience. We've taken your experience into account to minimize the impacts on your rates. " Anyone else getting similar quotes or rationales for rate increases? Edited November 3, 2016 by BorealOne Quote Link to comment Share on other sites More sharing options...
Bob_Belville Posted November 3, 2016 Report Share Posted November 3, 2016 You might want to do a search for a thread a couple of months ago on this exact topic. Quote Link to comment Share on other sites More sharing options...
Robert C. Posted November 3, 2016 Report Share Posted November 3, 2016 Several other recent threads on this topic, although mostly from a US perspective. South of the border several of us got the same argument, but others (myself included with only 200hrs M20R time) got nice reductions through Falcon (Texas based agency). Quote Link to comment Share on other sites More sharing options...
thinwing Posted November 3, 2016 Report Share Posted November 3, 2016 Mines been the same for last 4 years Quote Link to comment Share on other sites More sharing options...
Hank Posted November 3, 2016 Report Share Posted November 3, 2016 Mine renewed in July; Falcon lowered my premium by 12% from last year. Quote Link to comment Share on other sites More sharing options...
kris_adams Posted November 4, 2016 Report Share Posted November 4, 2016 I renewed mine in August for ~same amount. Quote Link to comment Share on other sites More sharing options...
yvesg Posted November 5, 2016 Report Share Posted November 5, 2016 I am with EAA C-Plan and upon renewal in June was quoted with about 5% drop compared to the previous year. Perhaps that general raise statement was effective after? or they are trying to pull a fast one! Yves Quote Link to comment Share on other sites More sharing options...
jonhop Posted November 18, 2016 Report Share Posted November 18, 2016 Just got a nice letter from Falcon today... 30% reduction in this year's insurance premium. I am still under 200 hours total time, although the last 80 of them are time in type. Quote Link to comment Share on other sites More sharing options...
Raptor05121 Posted November 18, 2016 Report Share Posted November 18, 2016 I got a quote from US Specialty that was respectable. I let the quote expire and 2 months later asked to activate my insurance. My new, up-to-date quote, same everything, was $100 higher after only 60 days. Quote Link to comment Share on other sites More sharing options...
DXB Posted November 18, 2016 Report Share Posted November 18, 2016 Just renewed my policy with Global via Falcon as the broker- 8pct decrease this year. Quote Link to comment Share on other sites More sharing options...
kpaul Posted November 18, 2016 Report Share Posted November 18, 2016 I am going through AOPA, granted this is my first renewal, however I saw a 23% decrease, down $250. I'll take it. 1 Quote Link to comment Share on other sites More sharing options...
Raptor05121 Posted November 18, 2016 Report Share Posted November 18, 2016 kpaul, what warranted you to go through AOPA? I got a quote from them that was well north of 4x what I am paying now. Quote Link to comment Share on other sites More sharing options...
neilpilot Posted November 18, 2016 Report Share Posted November 18, 2016 28 minutes ago, Raptor05121 said: kpaul, what warranted you to go through AOPA? I got a quote from them that was well north of 4x what I am paying now. Can't speak for kpaul, but I've been using AOPAIA since well before it was bought by AOPA (going back to 1989 as Rollins Burdick Hunter). About every 3 years, I do get a competitive quote but AOPA has NEVER been even 1.4x the competition, let alone the 4x that Raptor... claims. Maybe I'm the exception. Before I renewed a few weeks ago, a different agency did quote lower, but only by 3% ($35). Not enough savings for me to switch after 26 years with the same broker. Quote Link to comment Share on other sites More sharing options...
thinwing Posted November 18, 2016 Report Share Posted November 18, 2016 Just renewed this month..no change Quote Link to comment Share on other sites More sharing options...
kpaul Posted November 18, 2016 Report Share Posted November 18, 2016 6 hours ago, Raptor05121 said: kpaul, what warranted you to go through AOPA? I got a quote from them that was well north of 4x what I am paying now. I originally got quotes from AOPA and AVEMCO. AVEMCO was 2X the price of AOPA approx., $2500. AOPA came back at $1100 last year and $850 this year. Quote Link to comment Share on other sites More sharing options...
AndyFromCB Posted November 18, 2016 Report Share Posted November 18, 2016 I do not understand how Avemco stays in business? They have never been competitive for me, usually by at a factor of at least 1.5X vs next lowest quote. And they don't even pay broker commission. WTF? 1 Quote Link to comment Share on other sites More sharing options...
jonhop Posted November 19, 2016 Report Share Posted November 19, 2016 AOPA put me on to Falcon as the broker. They had four quotes with the lowest being a 30% reduction and the highest being a 2% increase. Guess which one I took? Quote Link to comment Share on other sites More sharing options...
Ftlausa Posted November 19, 2016 Report Share Posted November 19, 2016 Avemco quoted me nearly double what I get through AOPA. I don't think they like insuring Mooneys. Different insurance companies prefer different market segments. Quote Link to comment Share on other sites More sharing options...
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