Jump to content
This Topic

Insurance just quoted

NewMoon

By NewMoon
in General Mooney Talk

 Share

Recommended Posts

  • Replies 50
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

LANCECASPER
LANCECASPER

I'll bet it was tender though . .

Schllc
Schllc

That’s what I paid for my acclaim with a hull value of 400.  I do the wings stuff, I get ipc’s every six months, ifr since four months after my ppl, and I’m 10 years younger. Almost all of my time i

Parker_Woodruff
Parker_Woodruff

Not all of them.  Most companies open quote for Mooneys unless they already insure the plane. And there's no reason one company would provide a better quote to a different broker unless one had w

Posted Images

gabez Community Regular

gabez

Posted
Posted
  On 6/29/2024 at 11:15 AM, McMooney said:

100k hull @800 ish hours  came to $2155 yesterday.  getting painful

Expand  

I have 160K hull @650 hours and paying 2400 just renewed it. The big savings hit me when I crossed over 500 hrs. 

  • Like 2
A64Pilot Grand Master

A64Pilot

Posted
Posted
  On 6/29/2024 at 11:15 AM, McMooney said:

100k hull @800 ish hours  came to $2155 yesterday.  getting painful

Expand  

That’s very close to what I pay, I’m over 10,000 TT, Commercial / Instrument etc, etc. But I’m based on grass and I’ve been told that severely limits companies that will write a policy. I’m 66.

How does being hangers figure into it?

BlueSky247 Proficient

BlueSky247

Posted
Posted

@A64Pilot If I understand your question correctly, you were asking what impact hangaring the plane makes.  My last conversation with Parker, he indicated in my area, it only amounts to a couple of hundred dollars difference for a 100k hull policy versus being tied down outside. That seems wild to me considering how much damage hail can do, but I'm not an actuary. 

  • Like 1
A64Pilot Grand Master

A64Pilot

Posted
Posted
  On 7/6/2024 at 4:32 PM, BlueSky247 said:

@A64Pilot If I understand your question correctly, you were asking what impact hangaring the plane makes.  My last conversation with Parker, he indicated in my area, it only amounts to a couple of hundred dollars difference for a 100k hull policy versus being tied down outside. That seems wild to me considering how much damage hail can do, but I'm not an actuary. 

Expand  

Yes I was asking that, I’ve never heard if being hangared reduced rates. It would seem it should as aircraft tied down are subjected to greater loss it would seem , even from other aircraft etc.

 

BlueSky247 Proficient

BlueSky247

Posted
Posted
  On 7/6/2024 at 5:56 PM, A64Pilot said:

Yes I was asking that, I’ve never heard if being hangared reduced rates. It would seem it should as aircraft tied down are subjected to greater loss it would seem , even from other aircraft etc.

 

Expand  

I agree. It is very possible my figure is the exception as my home field is very small and rural. I have to believe tying down at a busy city field would see a lot higher chance of getting dinged.

A64Pilot Grand Master

A64Pilot

Posted
Posted
  On 7/6/2024 at 6:22 PM, BlueSky247 said:

I agree. It is very possible my figure is the exception as my home field is very small and rural. I have to believe tying down at a busy city field would see a lot higher chance of getting dinged.

Expand  

A few weeks ago at Crystal river where we go to eat every Sun Wx permitting of course.

IMG_2760.jpeg

  • Sad 2
A64Pilot Grand Master

A64Pilot

Posted
Posted
  On 7/6/2024 at 7:05 PM, GeeBee said:

Hangar vs tie down. In the south and midwest one word. Hail.

Expand  

I would venture that the Thunderstorms without hail are quite damaging too. When we lived in West Tx circa 1981 there was a hail storm so bad that it killed several cows.

‘It looked like the end of the Earth, coming from Ga I had never seen a sky like that.

Echo Mentor

Echo

Posted
Posted (edited)

I am early 60’s. $85k hull. Hangered at class C airport. VFR with 950 total time and 700 in make and model. $2800 now. Awaiting renewal. IFR is 25% reduction in premium I am told. Really sobering costs…

Edited by Echo
A64Pilot Grand Master

A64Pilot

Posted
Posted

What is 1 GR?

IFR? I tell people the day they get their PVT start instrument training, the insurence break pays for the training and of course makes you much safer and makes the aircraft a whole lot more usable.

Having said that I don’t fly IFR anymore since retirement.

Pinecone Grand Master

Pinecone

Posted
Posted

It would probably be more useful to state the hull rate, that is what percentage of the value is the premium.  And a separate number for the liability.  My quotes/policies list the two numbers.

I just renewed, switching to Parker.  Hull is 1.124%.  He was able to get me $1 million smooth (no sub limits), but it costs. :)

About 2000 hour, 900 retract, 160 in make/model, hangar, over 3000 foot paved.

Echo Mentor

Echo

Posted
Posted
  On 7/6/2024 at 9:38 PM, Pinecone said:

It would probably be more useful to state the hull rate, that is what percentage of the value is the premium.  And a separate number for the liability.  My quotes/policies list the two numbers.

I just renewed, switching to Parker.  Hull is 1.124%.  He was able to get me $1 million smooth (no sub limits), but it costs. :)

About 2000 hour, 900 retract, 160 in make/model, hangar, over 3000 foot paved.

Expand  

It would probably be more useful for you actually to say the premium. Just saying.

ArtVandelay Grand Master

ArtVandelay

Posted
Posted
  On 7/6/2024 at 10:21 PM, Echo said:
It would probably be more useful for you actually to say the premium. Just saying.

Why? Comparing the premium for an Acclaim tied down to a C in hangar is not going to tell you anything useful.
Pinecone Grand Master

Pinecone

Posted
Posted
  On 7/6/2024 at 10:21 PM, Echo said:

It would probably be more useful for you actually to say the premium. Just saying.

Expand  

The premium varies by hull value.

So I say my premium is $4000, how does that compare to yours????  If on a late Acclaim Ultra, that is super.  On a C, that is crazy.

  • Like 1
jetdriven Grand Master

jetdriven

Posted
Posted

We got several clients that bought their first airplane, an M20J, and the premium is around seven grand a year. These are low time pilots with a fresh complex endorsement, one had an instrument rating and one did not, but it’s a lot of money.

Parker_Woodruff Grand Master

Parker_Woodruff

Posted
Posted

Some insurance companies discount for having a hangar.  Others don't discount and just make their yes/no underwriting decisions based on if the aircraft is not hangared in a hail/weather prone area.

Some companies limit how much they'll pay for cosmetic hail damage to a Mooney...and of those companies, a couple only add that limitation on policies where the aircraft is normally stored outside.

  • Thanks 1
MountainGoat Contributor

MountainGoat

Posted
Posted

Different question, similar topic.  I've had my J for 2 years now, put on 50-60 or so hours a year, no claims.  My insurance is slightly higher than when I first purchased.  Aside from about 20hrs in an Arrow during training, the J is my only complex.  Is this to be expected, or should I shop for a new broker?

  • 2 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.