Cost of Insurance

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  • #84626
    rstanley
    Participant

      Good Morning All,
      I just received my renewal quote on my 1977 C340A from AOPA
      Hull Value $215,000
      Liability $1,000,000 SMOOTH
      I am 70 yo with 2500 hours almost all multi

      I expected it to go down from last years $5,307 but it went up to $5,834
      Would anybody like to share their rates and brokers either on the Board or by PM ?

      This seems very high ??
      Thanks for sharing
      Richard

      #101855

      Richard,

      I found AOPA to be high when I first quoted with them years ago. I have had Chartis for over 4 years and been happy. I pay around $2,500/yr for $120k hull and $1M liability, $100k/person. Each year my rates have gone down, or rather I’ve typically upped my hull value and paid the same amount. I think I’m at something like 1.7% hull value on my premium. I’m 29 with 2100 or so hours total, 1700ish multi.

      My broker is Joan Bertles with ST Good agency and she’s always been good to work with. 215-493-4709 or joanbbert@gmail.com

      #101862
      rpinkowski1
      Participant

        Sounds high.
        I pay $3400 / yr. $210K Hull, $1MM liability on my 340.
        The rates on my Aztec go down each year, I suspect the same will be true for the 340.
        I insure with Phoenix and can attest, unfortunately, to their quality of service. I had an FBO rip the nosewheel off of my Aztec about 10 years ago. Total repair was > $75K as both props had to be replaced, engines torn down, and, of course, the airframe damage. They took care of everything and even put $5K in my pocket afterwards for time lost, but not until they sued the FBOs insurance company to pony up.

        #101865

        My liability for $1M/$100k has been $440 for several years both in the Aztecs and now in the 340. Hull has been priced from $1.50 per $100 of coverage to $1.32 per $100 of coverage. The higher the coverage, the lower the per unit premium. I’ve used Jon Harden at Aviation Insurance Resources for the past 9 years.

        #101867

        Hallmark Insurance
        0.39% Not-in-Motion
        0.59% In Motion
        ____________________
        0.98% of Hull Value – Total, Motion & Not-In-Motion

        $1,113 for $1,000,000 smooth

        1100 TIT, ~1600 multi, 4000 TT

        Geoff

        #101868

        I pay the ~ same rates at Geoff with US Specialty. Had been with USAIG but they raised the rates $1000 so my agent moved me.

        Strange – US Specialty does not require any annual training – just FAR legal and no for hire flying. USAIG required annual “approved” training. I am doing the training anyway, it is a good idea.

        I have 1800 TIT, 2800 ME and 5500 TT.

        Jim

        #101870
        rwelsh
        Participant

          I have liability only at 1MM and 100K. Before I turned 71, the premium was $485, after 71 it has been $615, so maybe age has something to do with it. I have used Avemco for 45 years.

          #101872

          The insurance industry is going to start correcting for a rough market. The competition has been stiff. My guess is that when they feel the economy is on an uptick they will try to get themselves more profitable. I am not saying this is the right way to do it, but that is the general feeling I get.

          #101873

          US Specialty
          Broker: Wings Insurance – Minnesota

          $300k hull
          $1MM liability smooth

          $4500 premium
          Pilot requirements: 2500PIC; 1000 ME; 25 type

          No annual training required. Just an IPC

          #101875

          falcon insurance humble texas talk to martha tell her Ron sent you she is very good and can beat anyone i have used her for about 9 years.

          #101877
          quote RGould1:

          falcon insurance humble texas talk to martha tell her Ron sent you she is very good and can beat anyone i have used her for about 9 years.

          I also use Falcon and also go through Martha. Good people and very good rates.

          #101958

          I also use Falcon Insurance and paid $3400 this year for my 340 with 200k hull coverage.

          #101985
          quote RSTANLEY:

          Would anybody like to share their rates and brokers either on the Board or by PM ?

          Here’s what my insurance agent sent me (and what I paid):

          quote :

          Final premium for C-310 is:

          Insured Value- $240,000 ground and flight $2,712
          $100 nim, $1,000 im.
          Landing Gear Deductible- $5,000 $ 250
          Liability- $1,000,000 csl $ 1 ,236
          P&B
          Pilots- Doug, W/Pvy, AMEL, I,
          Pvt, MEL, I, 1500TT, 500ME, 50M+M
          Territory, US, Canada, Mexico, Puerto Rico, Bahamas, Turks & Caicos
          Total- $4,198.

          Sorry it’s badly formatted, it came in the e-mail that way back in April.

          EDIT: It’s underwritten by HALLMARK Insurance Company, Fort Worth, TX according to the paperwork I have.

          I have been using Jon Doolittle since 1995 when I bought my Mooney 201. I highly recommend him. If you give him a call feel free to tell him Doug says “hi.”

          Jon Doolittle | President
          Sutton James, Inc. 100 Lindbergh Drive | Hartford, CT 06114 | USA
          O: +1 860.249.8066 | F: +1 860.522.4153
          E: jdoolittle@suttonjames.com | http://www.suttonjames.com

          Cheers,

          Doug

          #101987
          rstanley
          Participant

            Gentlemen
            It all seems to be about AGE
            At 70 insurance company’s seem to assume you have fallen off the risk curve.
            If anybody that has posted would like to share their age it would make for a lot clearer picture of rates vs age
            Thanks again for all your help
            Richard

            #101988

            Age 47
            CP/CFI/CFII/MEI
            1400TT 800+ in twins

            My liability for $1M/$100k has been $440 for several years both in the Aztecs and now in the 340. Hull has been priced from $1.50 per $100 of coverage to $1.32 per $100 of coverage.

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