Insurance Renewal Time

[DrBill]

Well I got 3 quotes on insuring my 65 E this year.  I wanted to up the coverage to $60K to cover my recent add-ons.

 

I've had AOPA for 9 years (2 in the Mooney) and they have been decent to me.

So Here's the quotes:

AOPA  (Chartis) $1314

AVEMCO ( who I had with AOPA until I got the Mooney and they switched to Chartis) $2281

 

Falcon (Global)  $964

 

No surprise who I am going with this year.. I've checked all the details regarding pilots covered, non-owned aircraft, etc.

 

So if you're up for a renewal, give Falcon a try.. Online it's easy to request a quote. They reply via email within a day or so.

 

BILL

 

 

[Marauder]

Been a Falcon customer for 22 years, no complaints here...

[Hank]

I just called Falcon this morning. Used Starr since 2007, but they're exiting the aviation market and passing on to another division. Still waiting on quotes from both; Avemco has always been at least 50% higher than Starr was, with another quote this year in the $2K range.

 

Any idea why Avemco is always so high? Surely it's not the cost of the free hats?

[Bob_Belville]

Bill, we've got a local outfit in Hickory, Greg Turner - Carolina Aviation Ins. He placed me with QBE in Feb. $1230 for $100k hull. (I paid $885 the year before with Global for $60k hull.)

[mooniac58]

I pay $1250/year for $150,000 on the hull.  I forget the underlying agency but I do it through Wells Fargo Insurance as a bundle with all my corporate insurance.

[Bennett]

The market is quite limited for those over 75, even with thousands of hours of accident free flying, instrument, and commercial ratings.  There is availability in some markets. Avemco does not seem to restrict by age, but they require annual "BFRs" and annual medicals. QBE, as an emerging market, is far less restrictive, and less expensive, but finding "Smooth", or limits higher than $1,000,000, even with per seat, or per passenger limits, are unavailable for us oldsters. (unless we fly jets).  Kind of perverse in that experience can get one out of trouble in situations where newer pilots might fail. Also, following Darwin, by the time you are my age, most of the "hotshots" have done themselves in. Nowadays I fly smarter than in the past, and I am far more likely to avoid really bad weather, or when I feel the conditions are marginal at best. Like they say: "Done that", and now I don't have to prove anything to anyone; especially myself. Insurance companies like to pull out statistics to "prove" older pilots are somehow dangerous, but having employed actuaries for many years, I know I can get opinions that are slanted to whatever outcome I want.  I have the hull coverage I want, but when I was younger (and crazier), I had no problem buying $5,000,000 smooth liability limits. Now I am stuck with $1,000,000/ $100,00 per person limits.  Not pleased about that. 

[Parker_Woodruff]

Falcon is a good place to be a customer and an employee. I've been both.

Cliff takes care of the MAPA program well.

[rainman]

I have AOPA and pay $1551 for $110K on the hull, and $1M liability. After spending $50K on upgrades this month, I want to increase my coverage. I just paid in March, can I get a new quote and/or switch companies and get a prorated refund? Ray

[Bob_Belville]

Probably. You certainly can adjust the present policy to raise hull. I did that last year after putting 50+ AMU into my panel. (I did run into an issue that Global would only go to $86k(?) on an E. I raised to their limit (for the 2+ months remaining and found that I could get the 100k with QBE going forward.)

[fantom]

I have AOPA and pay $1551 for $110K on the hull, and $1M liability. After spending $50K on upgrades this month, I want to increase my coverage. I just paid in March, can I get a new quote and/or switch companies and get a prorated refund? Ray

 

Probably better to stay with them until your next renewal. The way they prorate is far from 'fair and balanced'

[Parker_Woodruff]

I have AOPA and pay $1551 for $110K on the hull, and $1M liability. After spending $50K on upgrades this month, I want to increase my coverage. I just paid in March, can I get a new quote and/or switch companies and get a prorated refund? Ray

 

You can make the request through your agent to increase your hull value.  The cost of the endorsement to the policy will be pro-rated through the end of the policy term.  Example: if the annual cost to increase the hull value would be $400 and you make the change with only 3/4 of the policy term remaining, the cost of the endorsement would be $300 and be effective through the end of the policy term.

 

If you cancel your policy, you'll receive a short-rate return.  It's not common practice to cancel a policy and re-write it mid-term except in extreme circumstances.