procharger Posted April 27, 2020 Report Share Posted April 27, 2020 What are people paying for insurance mine seems to have gone up a lot lately? And where is the best place to look? Quote Link to comment Share on other sites More sharing options...
Andy A Posted April 27, 2020 Report Share Posted April 27, 2020 $1,500 for a 2014 CTLSi with $100,000 hull coverage. Gregg Ellsworth with Aviation Insurance Resources has found me the best rates for the past couple of years. He's a super nice guy. Give him a call 301-682-6200. Quote Link to comment Share on other sites More sharing options...
AGLyme Posted April 27, 2020 Report Share Posted April 27, 2020 Mines in line with Andy’s Quote Link to comment Share on other sites More sharing options...
Tom Baker Posted April 27, 2020 Report Share Posted April 27, 2020 My aviation business insurance went up 15%, and I have heard of others that went up 25%. The companies have been saying that they are operating at a loss, and at least 2 companies have left the market. Them leaving the market is a pretty good indicator that they were not making any money. Quote Link to comment Share on other sites More sharing options...
okent Posted April 27, 2020 Report Share Posted April 27, 2020 Mine went down buy $100 this year but it was higher than what you all have quoted. $2300 but that covers anyone who flies it with no required hours in type limit. I'm a new pilot though, just got my first 100 hours. Quote Link to comment Share on other sites More sharing options...
sandpiper Posted April 27, 2020 Report Share Posted April 27, 2020 My policy ending in May with Falcon is $1100 and change for $89K hull. Renewal will be $1700 for the same coverage. The only other offer was $2900. This is with near 6,000 accident/incident free hours and most ratings including rotor head (Hi Bill) but not ATP. They swear my age, 75, is not a factor. It's just that the industry is having a hard time. I read an article a couple of months ago saying rates were going up. I probably should have lowered the hull value to a more reasonable number. Next year. Quote Link to comment Share on other sites More sharing options...
procharger Posted April 27, 2020 Author Report Share Posted April 27, 2020 Mine almost doubled no claims. FAA should allow us to charge for rides to offset this BS. Just a matter of time GA will fail. I need Trump to send me some flying $ so I can social distance more. Quote Link to comment Share on other sites More sharing options...
sandpiper Posted April 27, 2020 Report Share Posted April 27, 2020 I started out going without decades ago. Had nothing to lose back then. So, if things get too out of hand I may go with only liability. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted April 29, 2020 Report Share Posted April 29, 2020 On 4/27/2020 at 7:35 PM, sandpiper said: I started out going without decades ago. Had nothing to lose back then. So, if things get too out of hand I may go with only liability. That would be sad, but I might do the same if the numbers get too wacky. I hate that big airliner accidents like the 737 MAX debacle raise the rates for use tiny fish, since we are so different that we might as well be in sailboats. Also I think the unlimited money printing by the Federal Reserve is starting to drive up prices on everything. My grocery bill is about 40% higher in the last year or so. My rates started at around $1500/yr with $75k hull coverage, and steadily went down a bit every year to about $1250. Then last year they jumped back to about $1400. I fear this year they will go up yet again. Quote Link to comment Share on other sites More sharing options...
Warmi Posted April 29, 2020 Report Share Posted April 29, 2020 I just paid off my plane this year ( got it in 2017 for 110k ) so I am free to drop the hull insurance altogether - I am not sure I will do that though because , well, that’s a lot of money and while I don’t plan to crash anytime soon , still, shit happens ( look at what happened to Ed Cesnalis ) ...so I will try to keep at least 70k or so ... Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted April 29, 2020 Report Share Posted April 29, 2020 45 minutes ago, Warmi said: I just paid off my plane this year ( got it in 2017 for 110k ) so I am free to drop the hull insurance altogether - I am not sure I will do that though because , well, that’s a lot of money and while I don’t plane to crash anytime soon , still, shit happens ( look at what happened to Ed Cesnalis ) ...so I will try to keep at least 70k or so ... I would keep enough hull that you could replace the depreciated cost of the airplane, if at all possible. Going without would be a last resort for me. Personally, it would be a hardship for me to replace my CT out of pocket. Quote Link to comment Share on other sites More sharing options...
GrassStripFlyBoy Posted April 29, 2020 Report Share Posted April 29, 2020 I considered going without as well, my rate as low time in type new owner was around $1200 with $51k hull, I had a quote as low as $800 in the mix, but required me to base at larger county airport - many companies shy away from a shorter private grass strip. In the end I view insurance a fairly good value when you compare to an automobile. In Michigan our rates on vehicles are crazy high. One could likely part out a damaged aircraft to some extent, but still see too large of gap to go without when looking at cost v/s risk. Quote Link to comment Share on other sites More sharing options...
Warmi Posted April 29, 2020 Report Share Posted April 29, 2020 2 hours ago, FlyingMonkey said: I would keep enough hull that you could replace the depreciated cost of the airplane, if at all possible. Going without would be a last resort for me. Personally, it would be a hardship for me to replace my CT out of pocket. Yeah, that’s what I am thinking as well. I am gonna keep enough hull to equal what I put up out of my pocket back in 2017 , which accidentally would be enough to get a replacement with <500 hours should anything happen. My wife is very understanding and supportive of my plane hobby but not THAT understanding ... Also , with the economy in the toilet for another 5 or so years, I fully expect prices for used LSAs to go down 30% or more.. Quote Link to comment Share on other sites More sharing options...
Tip Posted April 29, 2020 Report Share Posted April 29, 2020 17 minutes ago, WmInce said: Seriously doubt any of that. X2 Quote Link to comment Share on other sites More sharing options...
Warmi Posted April 29, 2020 Report Share Posted April 29, 2020 26 minutes ago, WmInce said: Seriously doubt any of that. I am a firm believer in market efficiency so I don't doubt market ( and I do mean Main Street not Wall Street ) will recover - people always do their best when given enough freedom. That's not what I am worried about - this is what I am worried about https://www.bizjournals.com/nashville/news/2020/04/28/cooper-enormous-32-tax-hike-needed-to-endure-covid.html I can guarantee you that every jurisdiction is working on something similar and they will attempt to target everyone , businesses and individuals alike . Quote Link to comment Share on other sites More sharing options...
gogogo888 Posted September 26, 2020 Report Share Posted September 26, 2020 I just renewed my insurance for my 06 CTSW on a $65k hull is $1,250. I flew 400 hour last year, 600 + hr total time. Quote Link to comment Share on other sites More sharing options...
Isham Posted November 25, 2020 Report Share Posted November 25, 2020 On 4/27/2020 at 3:18 PM, okent said: Mine went down buy $100 this year but it was higher than what you all have quoted. $2300 but that covers anyone who flies it with no required hours in type limit. I'm a new pilot though, just got my first 100 hours. Where do you get this that covers anyone with no required hours? Quote Link to comment Share on other sites More sharing options...
okent Posted November 25, 2020 Report Share Posted November 25, 2020 AIG Aviation Everyone else was about $1000 cheaper but had hour requirements that were just unreasonable. It was something like 25 hours of dual or 250 hours minimum IN TYPE. Quote Link to comment Share on other sites More sharing options...
ct9000 Posted November 27, 2020 Report Share Posted November 27, 2020 On 11/26/2020 at 4:08 AM, okent said: AIG Aviation Everyone else was about $1000 cheaper but had hour requirements that were just unreasonable. It was something like 25 hours of dual or 250 hours minimum IN TYPE. you could take that as a challenge of course and knock up 250 hrs. in a year so you then save some cash just because you went flying a bit more. Quote Link to comment Share on other sites More sharing options...
Roger Lee Posted November 27, 2020 Report Share Posted November 27, 2020 Call Chris Wolbert at Aviation Insurance Resources. 301-682-6200 or 877-247-7769. They seem to be one of the cheapest and easiest to work with. He has helped a lot of people here. Quote Link to comment Share on other sites More sharing options...
CTDan Posted November 28, 2020 Report Share Posted November 28, 2020 My regular insurance agent got a better deal for me than Wings could... Disclaimer*** he is a very good friend of mine, but I have no personal interest in his business. I’d be happy to share his company info via PM. $1400 in sept 2020. No CTSW time, 1200 hours, commercial multi-engine instrument, ... no mentor time, 60k hull value, 5000 per passenger, 1m each occurrence, 100k per person. Quote Link to comment Share on other sites More sharing options...
GrassStripFlyBoy Posted November 28, 2020 Report Share Posted November 28, 2020 I shopped around this Sept expecting to see the price increase so many others have reported. Besides my agent of past 20 years I submitted details online at A I R, next day Chris called and talked over a few more details (me being based at grass strip limits options as some won't write policies). When I shared who I was with, and being written by AIG he said he'd likely not be able to compete as he'd be going to AIG as well, but would quote and advise back. Never heard from him again. My policy was renewed with AIG again this year, and price went down, likely because I flew the plane 130 hours in past year, and now renewing a policy instead of being a new owner with practically zero hours? I've been with Avinsure for the last 20 years, Candy Eichenberger, she has knowledge of CT's as has insured several owners and a university flight school in OH that fly CT's Avinsure Agency, Inc. Quote Link to comment Share on other sites More sharing options...
sandpiper Posted November 29, 2020 Report Share Posted November 29, 2020 On 4/29/2020 at 9:30 AM, Warmi said: I just paid off my plane this year ( got it in 2017 for 110k ) so I am free to drop the hull insurance altogether - I am not sure I will do that though because , well, that’s a lot of money and while I don’t plan to crash anytime soon , still, shit happens ( look at what happened to Ed Cesnalis ) ...so I will try to keep at least 70k or so ... Don't under insure. They just might give you a check and leave you without enough to replace what you have. I doubt they would spend more to repair a broken plane than what it's insured for. Quote Link to comment Share on other sites More sharing options...
sandpiper Posted November 29, 2020 Report Share Posted November 29, 2020 Darrell - you said you were at $1200 for $51K last year. Would you care to share your renewal figures? Quote Link to comment Share on other sites More sharing options...
GrassStripFlyBoy Posted November 29, 2020 Report Share Posted November 29, 2020 Hey John - The $51k hull is where I started, so I must have stated the $1200 price and that would be off low, I pulled checkbook registry and see it was $1386. This time around I raised hull to $58k (avionics / ADS-B and working in auto pilot install), and stroked it for $1451.00), I was quoted lower prices if I'd say I'm based on county airport instead of my backyard strip, but won't play a game and do that. That shaved 300 - 400 off price as it opens up other carriers. Still, it is nice to be with an agent and carrier for long term, I think history would count for something. My comment on cost going down was relative to the hull value, if I held 51k it was lower, thought it would be prudent to cover the costs on the panel updates. Quote Link to comment Share on other sites More sharing options...
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