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Got my renewal insurance quote today...


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Similar exp. 1100tt  700'ish retract. IFR. 1,000,000/100,00 each. $5k med per person. 135K hull. 0 Deduct. No claims.  Last 5 yrs it been creeping up approx. $100 per year.  This year jumped almost $300 to $1,966 and that was switching to Old Republic from Star.  They were another $100 higher yet.. the only benefit they had was less restrictions on hours/qualifications for "other pilots" nobody else fly's my plane anyway.   I gasped, and asked the broker what was going on (I'm of the same thought that the more experience I get in the plane, the cheaper the insurance should be)  She mentioned that the underwriters pretty much socked it to all retractables over the last few years. 

I hadn't thought of it at the time, but I keep $5k deductibles on all of my other vehicles.  Does anyone have any experience with putting a larger deductible in place on aircraft?  Might be a dumb idea.. a simple ding could cost thousands anyway.

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Falcon renewed mine just now, 1M/100K, 65K hull for $953, up from ~$880 last year. Zero deductible in motion or not; Open Pilot is 300 hours, 25 retract, 10 make & model. This year, it also includes Savvy coverage, which would have been great in March of last year when my left magneto died enroute to NC, and was on the ground there for two weeks, then failed again on the return flight . . . They added Savvy 1 Jan 18, only nine months too late . . .

When I asked about the increase, they said all retracts are going up. But at less than 10% increase and the addition of Savvy, I'm content. The Open Pilot requirements have varied over the ten years I've owned the plane, I remember being happy when I finally  met them! Then a couple years ago they almost passed me, something silly like 750 hours, 250 retract? My time is ~850 hours, with >750 retract, all in my C except for about 10 hours each M20-F and A36.

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Falcon renewed mine just now, 1M/100K, 65K hull for $953, up from ~$880 last year. Zero deductible in motion or not; Open Pilot is 300 hours, 25 retract, 10 make & model. This year, it also includes Savvy coverage, which would have been great in March of last year when my left magneto died enroute to NC, and was on the ground there for two weeks, then failed again on the return flight . . . They added Savvy 1 Jan 18, only nine months too late . . .
When I asked about the increase, they said all retracts are going up. But at less than 10% increase and the addition of Savvy, I'm content. The Open Pilot requirements have varied over the ten years I've owned the plane, I remember being happy when I finally  met them! Then a couple years ago they almost passed me, something silly like 750 hours, 250 retract? My time is ~850 hours, with >750 retract, all in my C except for about 10 hours each M20-F and A36.


What is this Savvy coverage thing all about? I am going through Falcon as well but pay for SavvyAnalysis as a stand-alone product. Do tell us more.


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6 minutes ago, Marauder said:

What is this Savvy coverage thing all about? I am going through Falcon as well but pay for SavvyAnalysis as a stand-alone product. Do tell us more.

This was attached to my quote from Falcon [I think it's through Global]:

IMPORTANT NOTE - LIMITED TIME OFFER: Global Aerospace has teamed up with Savvy Aviation, the pioneer of professional maintenance management for owner-flown GA aircraft, to offer you Aircraft Breakdown Assistance at no additional cost to you if your policy through Global Aerospace Inc. begins or renews on or after January 1, 2018*. If you have a mechanical problem with your aircraft away from home base, a call to the 24/7 toll-free hotline will put you in touch with a member of Savvy's team of veteran A&P/IA specialists, who will work with you to get you on your way ASAP. It's like taking your own personal A&P mechanic on every cross-country flight, and it's available this year at no additional cost to you!
Savvy Aircraft Breakdown Assistance

Hope I don't need it, but sure could have used it last year!!

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2 minutes ago, Hank said:

This was attached to my quote from Falcon [I think it's through Global]:

IMPORTANT NOTE - LIMITED TIME OFFER: Global Aerospace has teamed up with Savvy Aviation, the pioneer of professional maintenance management for owner-flown GA aircraft, to offer you Aircraft Breakdown Assistance at no additional cost to you if your policy through Global Aerospace Inc. begins or renews on or after January 1, 2018*. If you have a mechanical problem with your aircraft away from home base, a call to the 24/7 toll-free hotline will put you in touch with a member of Savvy's team of veteran A&P/IA specialists, who will work with you to get you on your way ASAP. It's like taking your own personal A&P mechanic on every cross-country flight, and it's available this year at no additional cost to you!
Savvy Aircraft Breakdown Assistance

Hope I don't need it, but sure could have used it last year!!

Note that is not the full Savvy Mx service, but essentially just a AOG service.  I think it's normally like $140 a year? so still a good deal.

I noticed this only recently, too, and the release also suggests that this is a promotion for NEW Global policies, so it might not apply if you've had Global before.  Has anyone called about this yet who can clarify that?

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This was attached to my quote from Falcon [i think it's through Global]:
IMPORTANT NOTE - LIMITED TIME OFFER: Global Aerospace has teamed up with Savvy Aviation, the pioneer of professional maintenance management for owner-flown GA aircraft, to offer you Aircraft Breakdown Assistance at no additional cost to you if your policy through Global Aerospace Inc. begins or renews on or after January 1, 2018*. If you have a mechanical problem with your aircraft away from home base, a call to the 24/7 toll-free hotline will put you in touch with a member of Savvy's team of veteran A&P/IA specialists, who will work with you to get you on your way ASAP. It's like taking your own personal A&P mechanic on every cross-country flight, and it's available this year at no additional cost to you!
Savvy Aircraft Breakdown Assistance
Hope I don't need it, but sure could have used it last year!!


Wow! That is a great deal! My insurance is through USAIG and has been for 20+ years. I see the cost is $149 per year through Sporty’s. Nice to see this offered!


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40 minutes ago, jaylw314 said:

Note that is not the full Savvy Mx service, but essentially just a AOG service.  I think it's normally like $140 a year? so still a good deal.

I noticed this only recently, too, and the release also suggests that this is a promotion for NEW Global policies, so it might not apply if you've had Global before.  Has anyone called about this yet who can clarify that?

It is included on my policy, received after payment was made. It's on a page by itself. No additional charge. AOG was my problem last year, a 9 hour drive home, and again to fetch her back.

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1 hour ago, Hank said:

This was attached to my quote from Falcon [I think it's through Global]:

IMPORTANT NOTE - LIMITED TIME OFFER: Global Aerospace has teamed up with Savvy Aviation, the pioneer of professional maintenance management for owner-flown GA aircraft, to offer you Aircraft Breakdown Assistance at no additional cost to you if your policy through Global Aerospace Inc. begins or renews on or after January 1, 2018*. If you have a mechanical problem with your aircraft away from home base, a call to the 24/7 toll-free hotline will put you in touch with a member of Savvy's team of veteran A&P/IA specialists, who will work with you to get you on your way ASAP. It's like taking your own personal A&P mechanic on every cross-country flight, and it's available this year at no additional cost to you!
Savvy Aircraft Breakdown Assistance

Hope I don't need it, but sure could have used it last year!!

I have Global thru AOPA and did not get this?

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9 hours ago, Eraaen said:

I hadn't thought of it at the time, but I keep $5k deductibles on all of my other vehicles.  Does anyone have any experience with putting a larger deductible in place on aircraft?  Might be a dumb idea.. a simple ding could cost thousands anyway.

I asked about this. The underwriters are unwilling to do this. I was trying for a 10k deductible but the highest I could get was $0.  Thought really hard about going with liability only but just my luck I’d have a storm flipped Cessna on top of me the following summer at osh. 

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2 hours ago, MIm20c said:

I asked about this. The underwriters are unwilling to do this. I was trying for a 10k deductible but the highest I could get was $0.  Thought really hard about going with liability only but just my luck I’d have a storm flipped Cessna on top of me the following summer at osh. 

They told me it made no sense because there aren’t too many low value claims with aircraft so changing the deductible wouldn’t really reduce the number of claims. 

of course you can just reduce your Hull $10k  

-Robert

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17 minutes ago, RobertGary1 said:

They told me it made no sense because there aren’t too many low value claims with aircraft so changing the deductible wouldn’t really reduce the number of claims. 

of course you can just reduce your Hull $10k  

-Robert

Lowering the hull does not work with the cheaper aircraft as it gets too close to a write off situation for a simple prop strike. 

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3 hours ago, MIm20c said:

Lowering the hull does not work with the cheaper aircraft as it gets too close to a write off situation for a simple prop strike. 

You can always take the payoff amount minus salvage value and keep the plane and repair it yourself. I’ve come close to accepting that offer. 

-Robert

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What does the 1.9 amu cover? The plane and the hospital stay?

It seems we are paying the same price unrelated to the cost of the airframe...

 60hrs PIC doesn’t get you past the new pilot, or new 2U plane, threshold....

Typical insurance for a Mooney is about 2amu.  First year of ownership adds another amu...

It takes about one year and 100 hours to get into the lower cost regime...

Add all this into the cost of learning to fly in a Mooney...

Ask your insurance company when and where the cost breaks occur...

1) Having the PPL helps... better than being a student

2) Having 100 hours in type usually helps...

3) Having a year of PIC in type usually helps...

4) Having An IR helps...

5) Attending MAPA Training helps...

6) Be ready for an engine-out event.  It happens...

Make sure you get the proper coverage for all the other stuff...

PP thoughts only, not an insurance guy...

Best regards,

-a-

 

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13 minutes ago, MATTS875 said:

I have not flown in 6 years and got a quote from Travers Insurance on a Hull value of 150k for $2300 year. everyone else was quoting me $4500-$5000 yr

The broker shouldn’t make a difference if they know Aviation. There are only a small numbe of underwriters and any legitimate broker should shop them all. Recommend using a dedicated Aviation broker and avoiding the guys who spent their day selling home and auto. 

-Robert

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27 minutes ago, RobertGary1 said:

The broker shouldn’t make a difference if they know Aviation. There are only a small numbe of underwriters and any legitimate broker should shop them all. Recommend using a dedicated Aviation broker and avoiding the guys who spent their day selling home and auto. 

-Robert

I was hoping for less than what I was quoted but hopefully with some time in the plane it will come down next year. My total time is only 220 hrs

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Just renewed: $1M/$100K, $40K hull.  Upon notification of renewal, Falcon sent me a quote with an assumed 35 hrs flown since last year, which was $2200.  At that time they told me if I provided my actual hours they may be able to get a better rate (I have no idea why they didn't just ask for updated hours first).  With 200 total hours, 90 in type, VFR only, my rate was $1200 (down from $1500 with 0 time in retracts).  I was hoping to get 100 hrs in type my first year, but being just shy didn't seem to hurt me too bad.

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I should have updated earlier - but this year I changed from split to smooth.  Quotes for the split for one non movement claim 2 years ago, 600 hrs in type and instrument were between ORA and global about $1100.  I ended up going with smooth limits for $1500 but lost my open pilot warranty.  This is falcon as the broker and old republic as the underwriter.  I had my claim with ORA (hail) and they were good to work with.  

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1 hour ago, steingar said:

I just pulled the trigger with Avemco.  Spendy, but it was the best I could do.

This may have changed but at one point people didn't go with Avemco because they had separate family limits. If passengers were related to the pilot they had lower sublimits.

-Robert

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