Insurance creep

[MIm20c]

From what I’ve seen the companies are really increasing the cheaper planes insured under 100k. I have to wonder if they’ve had an abundance of prop strikes that they either pay out the full policy or just under it and are now trying to make up the premium on them.

I WANT $10-20k in motion deductibles to become standard for everyone to keep our insurance in check and less total write offs to keep our planes whole and not scrapped. 

[Jerry 5TJ]

1 hour ago, MIm20c said:

From what I’ve seen the companies are really increasing the cheaper planes insured under 100k.

The single engine turboprop crowd is singing the same sad tune:  Lamenting 20-40% increases on 7 figure aircraft, too. 

[larrynimmo]

Good news for me... for my June 6th renewal with Old Republic went up from 1926 to 1975....49 increase....

My hours went from just over 520 to about 680 hours with ifr (not new in last year) and 135k hull value...no claims no reportable violations.

while I would like to pay less...I feel very fortunate!

[PT20J]

Just got my renewal quote:

1994 M20J insured for $170,000 hull and $1MM smooth liability.

Pilot is ATP, CFII, instrument current

USAIG (current carrier): hull $2190. Liab $610 total $2800 (up 15% from last year)

Three closest quotes were:

WBrown $3050, AIG $3690, STARR $6086

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[Mooney_Allegro]

2018 - 10% drop in premium after getting more M20TN time.

2019 - No Change in premium.

2020 - 4% increase in premium.

2021 - 5% increase in premium.

USAIG for the last 20 years.