Insurance age discrimination

[dmc]

I called AOPA to get a insurance quote for a M20C I was looking at and to get an idea on what would be required since I only have about 30hrs so far.

The requirements were 15 hours of dual, prior to solo, with a CFI that met their requirements.  One of the requirements for the CFI was to be between the ages of 25 to 65.  I sure hope I'm reading this wrong and I am waiting for a response from them.  My CFI is 76 and I think is doing a fine job, why would I want to change.  If he is a qualified CFI, why would the insurance company care? 

I also would have to have 50 hours in make/model before I can take passengers.

Cost is $2345 with $30,000 hull value.

 

Does this seam correct?

 

 

 

[Parker_Woodruff]

Quote: dmc

I called AOPA to get a insurance quote for a M20C I was looking at and to get an idea on what would be required since I only have about 30hrs so far.

The requirements were 15 hours of dual, prior to solo, with a CFI that met their requirements.  One of the requirements for the CFI was to be between the ages of 25 to 65.  I sure hope I'm reading this wrong and I am waiting for a response from them.  My CFI is 76 and I think is doing a fine job, why would I want to change.  If he is a qualified CFI, why would the insurance company care? 

I also would have to have 50 hours in make/model before I can take passengers.

Cost is $2345 with $30,000 hull value.

 

Does this seam correct?

 

 

 

[AndyFromCB]

Try NationAir. The have been great. My Arrow there first year was $1800 for a full coverage, hull valued at $75,000. Then it dropped to below about a grand or so after I got my 100 hours at next renewal. The requirements were 10 hours with a CFI. I didn't even have my complex when I bought the airplane, no IFR, about 110 hours total time.

I'd wait with the purchase after getting your PPL.

[Hank]

Quote: dmc

I called AOPA to get a insurance quote for a M20C I was looking at and to get an idea on what would be required since I only have about 30hrs so far.

The requirements were 15 hours of dual, prior to solo, with a CFI that met their requirements.  One of the requirements for the CFI was to be between the ages of 25 to 65.  I sure hope I'm reading this wrong and I am waiting for a response from them.  My CFI is 76 and I think is doing a fine job, why would I want to change.  If he is a qualified CFI, why would the insurance company care? 

I also would have to have 50 hours in make/model before I can take passengers.

Cost is $2345 with $30,000 hull value.

Does this seam correct?

[dmc]

I plan to finish my PPL in the 172 as I hopefully don't have that much longer and don't want to change now.  Ive started my Cross country's and hopefully can finish up in a month or so.  I just didn't like the age restriction,  I guess as I'm 54, 65 doesn't seam that old anymore. 

The 15hrs also seems like a lot, but hopefully that will change when I get my PPL, if not I guess we can get a few more IFR hours in.  I assume I can take passengers up before I have 50hrs in make/type, they just wont be insured.  That wont keep me from taking the wife up.  She can always sue me if need be. 

I wonder if insurance is worth it.  I have health insurance, I can get some additional liability insurance.

[jwilkins]

I have had better service from Falcon than any of the other companies or brokers I worked with over the years. Falcon answers questions immediately, and shops my aircraft and qualifications with different underwritters. For example, the company that wrote the insurance on my M20F apparently does not like turbo charged planes so when I changed to the M20K we switched companies.

We've quoted with AOPA three times. They have always been very pleasant but, for me, the prices were significantly higher.

The last few years Falcon had the best prices of the companies I shopped, and overwhelmingly the best advice and service.

I think it pays to shop around to see how much prices vary, and ask questions so you cen get a feeling how responsive and knowledgeable your contact is. Both are important. 

Your rates should go down as you get ratings and experience. Just from memory I think I am paying around $1500 with a $85K hull value, so it will get better for you.

Jim

Jim

 

 

 

 

[dmc]

oops

[dmc]

I plan to finish my PPL in the 172 as I hopefully don't have that much longer and don't want to change now.  Ive started my Cross country's and hopefully can finish up in a month or so.  I just didn't like the age restriction,  I guess as I'm 54, 65 doesn't seam that old anymore. 

The 15hrs also seems like a lot, but hopefully that will change when I get my PPL, if not I guess we can get a few more IFR hours in.  I assume I can take passengers up before I have 50hrs in make/type, they just wont be insured.  That wont keep me from taking the wife up.  She can always sue me if need be. 

I wonder if insurance is worth it.  If I wreck the plane the wife probably isnt going to ride with me anyway.  If its really bad I wont be flying anymore.

[dmc]

Thanks, I definatly plan to shop around.  I just wanted to get an idea on what it would cost and what would be required.  The M20C was local and I really wanted it to work out, but I don't think its the one for me.  I need something with a little more room in the back, so it's M20F or G.

[jwilkins]

duplicate post - not sure why. sorry

 

 

 

 

 

[Parker_Woodruff]

15 hours dual actually isn't much, given your qualifications and most umbrella policies will not cover your aviation liability exposure. 

Your first year will always be more expensive. I can't imagine not getting at least liability coverage something that moves through the air at 170 mph with up to 4 people inside of it. 

[Hank]

It took most of my 15 dual to get comfortable with the plane, and several more after that to start feeling good about my ability to make it go & do what I wanted. As a new pilot, there's a lot of adjusting and learning going on, and LOTS more aircraft capability. Even now, I think the plane is still more capable than I am ready to attempt, but that's how I want it to be.

Getting Instrument Rated drops the insurance rate nicely, too. I went from $3100 as a zero-complex newbie to $1300 with a couple hundred Mooney hours and a rating.

Be careful flying in contradiction to your insurance restrictions. They may very well decide, in the event that you have a claim, that because you violated their terms, they won't pay anything [rather than just not paying for your passenger]. That's a sticky swamp to willfully walk into . . . but then again, I'm not an insurance professional. Parker?

[Becca]

Quote: dmc

I plan to finish my PPL in the 172 as I hopefully don't have that much longer and don't want to change now.  Ive started my Cross country's and hopefully can finish up in a month or so.  I just didn't like the age restriction,  I guess as I'm 54, 65 doesn't seam that old anymore. 

The 15hrs also seems like a lot, but hopefully that will change when I get my PPL, if not I guess we can get a few more IFR hours in.  I assume I can take passengers up before I have 50hrs in make/type, they just wont be insured.  That wont keep me from taking the wife up.  She can always sue me if need be. 

I wonder if insurance is worth it.  I have health insurance, I can get some additional liability insurance.

[Becca]

Quote: Hank

Getting Instrument Rated drops the insurance rate nicely, too. I went from $3100 as a zero-complex newbie to $1300 with a couple hundred Mooney hours and a rating.

 

[Becca]

Quote: Hank

Getting Instrument Rated drops the insurance rate nicely, too. I went from $3100 as a zero-complex newbie to $1300 with a couple hundred Mooney hours and a rating.

[Parker_Woodruff]

Quote: Becca

So, I'd like to hear from Parker on this one too.  According to our agent, the usual discount (varies by company) is about 10% off for an instrument rating.  There are a couple big "jumps" of discounts at 100 hrs time in aircraft and 500 hrs total time where you pay less too.

[Hank]

Quote: Becca

[dmc]

Quote: Parker_Woodruff

15 hours dual actually isn't much, given your qualifications and most umbrella policies will not cover your aviation liability exposure. 

Your first year will always be more expensive. I can't imagine not getting at least liability coverage something that moves through the air at 170 mph with up to 4 people inside of it. 

[rbridges]

your quote should be much lower when you get a PPL.  My quote was 1400/yr with 50K hull value when I had 100 hours and no retract time.

[jetdriven]

Ours was 2133$.  Second year we all had 100 hours in make and model, and it came down to 1700$.

 

[jetdriven]

10 hours of dual complex time is going to cost ~2k.    Might as well take the hit on insurance and do it in your plane for about half that.

Quote: Becca

So, you may consider renting a retract toward the end of your PP too.  The amount of dual I needed was less than my partner needed on the basis of me having 10 complex hrs, oh, 5 years out of date and him not having any complex time.