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Insurance renewal


PTK

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I renewed in November and mine was $1280 for $55k hull $1M/$100k. Was $1800 previous year but I had zero retract time and less than 200hrs...


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I have a quote from USAIG at 2037$. That’s for 1mil smooth and 135k hull. My agent really likes it because USAIG is excellent from what she is telling me and from what I hear. I wonder how it compares.

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19 minutes ago, tigers2007 said:

I renewed in November and mine was $1280 for $55k hull $1M/$100k. Was $1800 previous year but I had zero retract time and less than 200hrs...


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I had similar numbers. I renewed in December and mine was just over $1,000. Previously it was about $1,500 but that was no complex time and about 60 hours total. Renewal was with about 150 hours complex, seemed reasonable. (Granted my hull value is a little lower than yours).

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Just renewed in Feb with USAIG via AOPA. They aren't the cheapest but offer expanded coverage to preferred pilots which is valuable for those that travel. Mine went down a few dollars but is essentially unchanged from last year.

 

 

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5 hours ago, PTK said:

I have a quote from USAIG at 2037$. That’s for 1mil smooth and 135k hull. My agent really likes it because USAIG is excellent from what she is telling me and from what I hear. I wonder how it compares.

Falcon(USAA)-> old republic.  $1250 for 150K hull, 1mil smooth.

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15 hours ago, PTK said:

I have a quote from USAIG at 2037$. That’s for 1mil smooth and 135k hull. My agent really likes it because USAIG is excellent from what she is telling me and from what I hear. I wonder how it compares.

I don't see the point in million dollar smooth unless you take a lot of friends and non-family flying. They don't just automatically pay out for occupants unless there's a chance of them losing a lawsuit.

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I renewed in December.  It was ~$1100 previous year with 200 hours and they wouldn’t give me the rate for IFR because my checkride was delayed some days beyond the renewal date.   That was for 1m smooth and $50k Hull, vfr.  

This year, I renewed with IR and commercial ratings 300 hours, and increased hull to $85k and the rate was $970.

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53 minutes ago, 201er said:

I don't see the point in million dollar smooth unless you take a lot of friends and non-family flying. They don't just automatically pay out for occupants unless there's a chance of them losing a lawsuit.

That’s exactly what my agent advised me.  Asked what kind of passengers I took along and we determined that smooth wasn’t for me.  Now if I started taking friends or med flights then I would change to smooth coverage.  

I should be receiving my annual quote within the next week or so.  

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I try to fly under the hood as often as I can and use a friend to safety pilot.  If we were to crash and burn, I worry my friend’s family would sue my estate and wipe my wife and kids out.   I consider it a wrongful death life insurance policy.  Not much change in premium. 

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I don't see the point in million dollar smooth unless you take a lot of friends and non-family flying. They don't just automatically pay out for occupants unless there's a chance of them losing a lawsuit.

The value isn't in taking a lot, but ANY pax as in just one! $100K is nothing as a limit these days if you have any networth to protect.


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Just renewed for $2995 CDN. $140kCDN hull and $2M liability.  It is $100 more than last year, but they said I gained discounts on experience, time, et, but rate were up across the board this year.  That is with Global Aerospace via Magnes.

 

iain

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Anyone actually read their homeowners umbrella plan terms? I wonder if it would cover pax in an air-related wreck. I know mine would cover my as$ if I was driving drunk and did something horrible but I’m not clear if it would cover any air-related accidents.


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On 3/2/2018 at 11:53 PM, M016576 said:

Falcon(USAA)-> old republic.  $1250 for 150K hull, 1mil smooth.

Wow! My agent (AOPA insurance) finds this unbelievable! Are you sure?

I bound coverage for my best quote from Old Republic at 1962$ for 1 mil smooth/135Κ hull. In fact according to AOPA insurance they have never seen it as low as you say.

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On ‎3‎/‎2‎/‎2018 at 6:55 PM, Skates97 said:

I had similar numbers. I renewed in December and mine was just over $1,000. Previously it was about $1,500 but that was no complex time and about 60 hours total. Renewal was with about 150 hours complex, seemed reasonable. (Granted my hull value is a little lower than yours).

I am about to bind insurance coverage on an M20C I made a deposit on.  I got a quote through AOPA and Falcon.  Both came back with Global Aerospace at $1,903.       200hrs TT and 10hrs complex.  $30k hull.

Who are you using?

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1 hour ago, Kmac said:

I am about to bind insurance coverage on an M20C I made a deposit on.  I got a quote through AOPA and Falcon.  Both came back with Global Aerospace at $1,903.       200hrs TT and 10hrs complex.  $30k hull.

Who are you using?

That's tyoical for a new Mooney pilot. Get 100 hours or so your first year, the premium should come down by 40-50% next year. Fly 30-40 hours first year, expect no change in premium. So since you're gonna spend the money, spend it on fuel and enjoy it!  :)

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On 3/3/2018 at 11:14 AM, bradp said:

That’s exactly what my agent advised me.....(no need for smooth limits)

Funny, that’s exactly OPPOSITE the advice received from an aviation attorney I retained.  

His opinion — we GA pilots should carry smooth limit liability insurance approximating our financial net worth.  

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54 minutes ago, Hank said:

That's tyoical for a new Mooney pilot. Get 100 hours or so your first year, the premium should come down by 40-50% next year. Fly 30-40 hours first year, expect no change in premium. So since you're gonna spend the money, spend it on fuel and enjoy it!  :)

Agree with the above. However, last year as a first time owner with half of his hours and 50% higher hull value my premium was 20% lower using falcon (same as his quote above). So rates might be going up. 

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