Time to Renew my Insurance

[Speed Merchant]

I received an email from my insurance company. Their letter was generic stating that my premiums may go up. My policy expires August 31. The underwriter is use is Global. My current policy was $2700. I have about 6000 hours total about 1000 in Mooneys and have commercial, multi, and instrument ratings. Is there someone I should try other than Global? Any suggestions will be appreciated. I am a very young 67.

Regards

Curt

[David Lloyd]

I was with Global for several years.  Same warning letter the last couple years.  Over the last 3 years my premiums more than doubled. No multi but about the same otherwise.  When asked, was told my 71 years is the primary reason for the increase and the offer to renew this year was not a guarantee next year.  I renewed with Avemco for about the same money.  Avemco told me barring anything unusual they would renew in the future but there would be a jump in premiums at 76 and again at 81.

[M20F]

@Parker_Woodruff

[Parker_Woodruff]

2 hours ago, Speed Merchant said:

I received an email from my insurance company. Their letter was generic stating that my premiums may go up. My policy expires August 31. The underwriter is use is Global. My current policy was $2700. I have about 6000 hours total about 1000 in Mooneys and have commercial, multi, and instrument ratings. Is there someone I should try other than Global? Any suggestions will be appreciated. I am a very young 67.

Regards

Curt

They're sending this letter to everyone or almost everyone it seems.

Your broker likely has the ability to check with other carriers if the situation warrants.  I think Global is probably a good place to be though.

[Alan Maurer]

Well Guys, There is nothing we can do about it. I fly an Ovation and have about 9000 hours (SMEL, inst, Comm etc) and this year paid about $7000

for my renewal despite a spotless record and the FAA Wilbur & Orville Wright Master Pilots Award. I am now 78 and have a fresh BFR and IPC

and the insurance companies look at statistics. A few older pilots that ought not to be flying and fly infrequently get into mishaps and the premiums go wild.

I like to think we are better pilots than the younger less experienced fellows but I wish it were possible to convince the insurance carriers. ...sad!

[ArtVandelay]

22 minutes ago, Alan Maurer said:

Well Guys, There is nothing we can do about it. I fly an Ovation and have about 9000 hours (SMEL, inst, Comm etc) and this year paid about $7000

You could say no thanks, or maybe go with liability only.