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Insurance Gulp!


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I just received a renewal notice for insurance on my 201. It went up again. What should a pilot with 6k hours total time with 1k in Mooneys expect to pay? My renewal is $2800. That seems high to me but maybe that is just how it is right now. The quote was with Global.

Thanks!

 

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The market seems to be tough at the moment, despite my efforts at finding more competitive rates my Comanche will cost me $5K on a $195K hull.  My RV is working out to about half the premium for half the hull.

Clarence

 

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2 hours ago, Speed Merchant said:

I just received a renewal notice for insurance on my 201. It went up again. What should a pilot with 6k hours total time with 1k in Mooneys expect to pay? My renewal is $2800. That seems high to me but maybe that is just how it is right now. The quote was with Global.

Thanks!

 

We’re paying that for 140k hull and 100k sublimits. Your getting a deal in this current market. 

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Just now, Speed Merchant said:

Who was the agent?

I use @Parker_Woodruff, just renewed this week with Old Republic. Raising my hull vahue 10K cost an extra sixteen dollars, a good move even without the current crazy prices.

Overall, my premium is almost back at where it was on my first renewal, with 160 hours, 100 in the Mooney; right now I'm ~950 total, IFR, 850+ in Mooneys. 

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4 minutes ago, Speed Merchant said:

Wow I guess my quote is in line. What is $1 MM smooth? Liability?

thanks

For Us, 1m smooth would have been 4231. Last year was 2k. We took the 100k sublimits at 2700. 

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3 minutes ago, Hank said:

I use @Parker_Woodruff, just renewed this week with Old Republic. Raising my hull vahue 10K cost an extra sixteen dollars, a good move even without the current crazy prices.

Overall, my premium is almost back at where it was on my first renewal, with 160 hours, 100 in the Mooney; right now I'm ~950 total, IFR, 850+ in Mooneys. 

Thanks I will contact him.

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24 minutes ago, Speed Merchant said:

Wow I guess my quote is in line. What is $1 MM smooth? Liability?

thanks

Smooth is insurance shorthand for no per seat sub limits. The actual term is Combined Single Limit. So if I have one passenger or three, the policy will still pay out up to the limit of $1 million for any liability claims. With a seat sub limit of $100K (common), each passenger could get a maximum payout of $100K after which I’d be on the hook if they sued me. 

Skip

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3 hours ago, Speed Merchant said:

I just received a renewal notice for insurance on my 201. It went up again. What should a pilot with 6k hours total time with 1k in Mooneys expect to pay? My renewal is $2800. That seems high to me but maybe that is just how it is right now. The quote was with Global.

Thanks!

 

Depends on some factors but in about 2-3 minutes on the phone I can tell you if $2800 is a good deal or not. 

Parker@airspeedinsurance.com

214-295-5055

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17 hours ago, PT20J said:

Smooth is insurance shorthand for no per seat sub limits. The actual term is Combined Single Limit. So if I have one passenger or three, the policy will still pay out up to the limit of $1 million for any liability claims. With a seat sub limit of $100K (common), each passenger could get a maximum payout of $100K after which I’d be on the hook if they sued me. 

Skip

Skip

Thanks -looks like to have a few more questions to ask the agent. I appreciate your help.

Curt

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21 hours ago, PT20J said:

That’s what I’m paying for $1MM smooth and $170K  hull on a 1994 J from USAIG. Similar pilot times, ATP.

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$200K hull, $1M smooth, USAIG $2,875 3250TT 3100 M20

You seem to be getting the going rates :unsure:

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