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Mooney insurance increases?


BorealOne

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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 by BorealOne
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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).

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  • 2 weeks later...
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.

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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.

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