Insurance for older twins?

Home 2024 Forums Opening Section Safety Issues & Accidents Insurance for older twins?

Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • #83944

    Talking to our insurance agent today. I was told that the the underwriters (I gathered he was talking about more than one) will no longer write new policies of any kind for twins older than about 1965-1970. Anyone heard anything about this?

    #97087

    Who do they represent? What twin are you looking at? If it is a type of twin currently flying then someone is find insurance somewhere.

    What is your current twin experience? what are you flying now?

    #97090

    I fly a ’62 G model. My insurance is not a problem. If I understood my agent correctly, none of the current underwriters will issue a new policy for ANY twin aircraft older than about 1965. Just wondering if anyone knows anything about this or has any other information. I would find it hard to believe that anyone buying an older twin will not be able to insure it.

    #97092

    I frequent the Comanche Owners’ Forum and there has been nothing on this subject recently. The last Twin Comanche was built in ’72, IIRC.

    I do know that Avemco will not go higher than $250K, per seat, on any airplane over 30 yrs old. And that’s only possible with plenty of pilot experience. They won’t do a mil “smooth”.

    #97103

    My insurance broker has told me that it is harder to find for older twins, but not impossible. I’d gotten a quote on a 421A a couple years ago that she said might be hard to find, but it was actually (what I thought to be) a pretty reasonable quote.

    Technically, one does not require insurance to legally fly. However, all the hangars I’ve come across require insurance to rent. I wouldn’t suspect there to be issues getting insurance on an older twin, but you might have to try a couple different vendors. I think the concern that the companies have is that one can go out and buy an old 310 for $15k (or less) that may fly and get up in the air (and might even be legal), but is so worn out that it’s just a matter of time (not long) before a major problem occurs.

    #97131
    bthomason
    Participant
      quote PRIPP:

      Talking to our insurance agent today. I was told that the the underwriters (I gathered he was talking about more than one) will no longer write new policies of any kind for twins older than about 1965-1970. Anyone heard anything about this?

      Here is the response from a very knowledgable Twin Cessna insurance broker:

      “I’m not aware of any universal underwriting mandate like this. At any given time, one particular insurance company may take this stance which I suspect might be the case here. There should be other carriers out there that will cover the plane. Although we did recently loose one market (Britt-Paulk) there is still overall significant aviation underwriting capacity in the US.

      On some planes, such as the CE210, enough underwriters “turn up their noses” on the model that it makes premiums slightly higher since the remaining markets (that do provide CE210 coverage) know they are one of the few games in town for it.

      Occasionally, it can also be a “series of strikes” that make any given risk placement difficult, such as: pilot older than 65, flying an early 60’s high-performance twin that also wants to use the plane for something besides just personal transportation. A combination of these type factors might make placement untenable.

      Thanks!”

      Eric W. Barfield CAIP ARM
      (800) 342-4673 USA I (803) 771-7766 INTL
      http://www.hopeaviation.com

      #97132

      Thanks, Bob!

    Viewing 7 posts - 1 through 7 (of 7 total)
    • You must be logged in to reply to this topic.