procharger Posted January 9, 2023 Report Share Posted January 9, 2023 Anybody here in the 70's have insurance on their CTLS and how much are you paying? I have a friend who is 76 insurance company want 5 to 6000 dollars a year. Quote Link to comment Share on other sites More sharing options...
Madhatter Posted January 9, 2023 Report Share Posted January 9, 2023 Mine was 1400 for 75000. A lot of people are having an issue with this, I think it's just an excuse to get more money. It's a tight market now so shop around. If I can't get hull insurance in the future, I won't. I also have a very modified j3 cub, it runs a little less for the same $. If I mess it up I can repair anything on it myself, anything. Quote Link to comment Share on other sites More sharing options...
Towner Posted January 9, 2023 Report Share Posted January 9, 2023 I’m only 55, so the age isn’t relevant, but my policy still went up $300 this year. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted January 9, 2023 Report Share Posted January 9, 2023 I heard a rumor that starting in 2025 the insurance industry will no longer cover pilots over age 70. I don't know if it's true or not, but I did hear if from somebody not prone to flights of fancy who swore he heard it from an aviation insurance broker. I asked him is that was just hull or liability also, and he said he doesn't know. If true they will probably try to drive 70+ pilots out with costs first, before outright refusing to cover. It would even further accelerate the demise of GA. Again, rumor only, worth exactly what you paid for the information. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted January 9, 2023 Report Share Posted January 9, 2023 1 hour ago, Madhatter said: Mine was 1400 for 75000. That's about where I am for $85k, I'm 56 and live in the Southeast. Quote Link to comment Share on other sites More sharing options...
Skunkworks85 Posted January 10, 2023 Report Share Posted January 10, 2023 3 hours ago, FlyingMonkey said: That's about where I am for $85k, I'm 56 and live in the Southeast. Who are you guys using? Just paid my bill, $1600 on 65k hull, I'm 35. ≈600 total time Broker is Aviation Insurance resources, and have Brown and associates. or something like that Quote Link to comment Share on other sites More sharing options...
Towner Posted January 10, 2023 Report Share Posted January 10, 2023 Mine went up to $1700 this year after paying $1400 the last 2 years. $65k hull value. Quote Link to comment Share on other sites More sharing options...
GrassStripFlyBoy Posted January 10, 2023 Report Share Posted January 10, 2023 Mine renewed 3 months back, $1823 on $65k, but I pay a couple hundred more than normal being on a shorter grass strip. Avinsure Agency with AIG being the policy writer. And likewise that was a few hundred more than last year. Quote Link to comment Share on other sites More sharing options...
Warmi Posted January 10, 2023 Report Share Posted January 10, 2023 11 minutes ago, GrassStripFlyBoy said: Mine renewed 3 months back, $1823 on $65k, but I pay a couple hundred more than normal being on a shorter grass strip. Avinsure Agency with AIG being the policy writer. And likewise that was a few hundred more than last year. I am considering getting the hell out of Illinois , buying some property with 10-20 acres in Arkansas or Tennessee … yeah, it will be more expensive to insure on my own runway but the hell with it … not getting any younger and can’t take any money with me to the other side when the time comes anyway … Quote Link to comment Share on other sites More sharing options...
Garrett Gee Posted January 10, 2023 Report Share Posted January 10, 2023 The age part isn't relevant for me either, but just for another data point, I am at $1,639 for $115,000 hull and liability. Located in Mississippi. Quote Link to comment Share on other sites More sharing options...
Towner Posted January 10, 2023 Report Share Posted January 10, 2023 I wonder how much location has to do with it. Everything seems more expensive in California. Even though I’m over a huge, flat, farm area, I’m only about 45 miles to the Sierra Mountains to my east and 45 miles to the coastal range on the west. Can’t travel very far east or west without dealing with mountains. Quote Link to comment Share on other sites More sharing options...
GrassStripFlyBoy Posted January 10, 2023 Report Share Posted January 10, 2023 8 hours ago, Warmi said: not getting any younger and can’t take any money with me to the other side when the time comes anyway … True, but airplanes and land are both fine investments. Never regretted buying either. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted January 10, 2023 Report Share Posted January 10, 2023 12 hours ago, Skunkworks85 said: Who are you guys using? Just paid my bill, $1600 on 65k hull, I'm 35. ≈600 total time Broker is Aviation Insurance resources, and have Brown and associates. or something like that Call Chris Wolbert, broker at Aviation Insurance Resources. But it could be location related...different areas have different insurance rates & risks. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted January 10, 2023 Report Share Posted January 10, 2023 9 hours ago, garrettgee2001 said: The age part isn't relevant for me either, but just for another data point, I am at $1,639 for $115,000 hull and liability. Located in Mississippi. It's looking like the Southeast has low relative rates. Quote Link to comment Share on other sites More sharing options...
Tom Baker Posted January 10, 2023 Report Share Posted January 10, 2023 I found early on with light sport stuff that insurance premiums varied greatly with region. This is because you have different underwriters covering different areas. The areas were not divided on where the airplanes were based, but rather where the agent or broker who was handling your insurance was based. For one of the companies the underwriter in the Southwest gave better rates than the one from out East. People were contacting a broker in the west for insurance quotes, and getting much better rates than those who used someone local in the East. At least this was mu observation back then. Quote Link to comment Share on other sites More sharing options...
Towner Posted January 10, 2023 Report Share Posted January 10, 2023 1 hour ago, Tom Baker said: I found early on with light sport stuff that insurance premiums varied greatly with region. This is because you have different underwriters covering different areas. The areas were not divided on where the airplanes were based, but rather where the agent or broker who was handling your insurance was based. For one of the companies the underwriter in the Southwest gave better rates than the one from out East. People were contacting a broker in the west for insurance quotes, and getting much better rates than those who used someone local in the East. At least this was mu observation back then. Good to know. I think I’ll try elsewhere next year and see if I get a better rate. A 20% increase in one year seems a little high. But it is California, and my electric bill went up 120% in 2 years! Quote Link to comment Share on other sites More sharing options...
Warmi Posted June 2, 2023 Report Share Posted June 2, 2023 Got my insurance quote for 2023 - about $200 less than last year. Quote Link to comment Share on other sites More sharing options...
tevbax Posted June 2, 2023 Report Share Posted June 2, 2023 Moved from Travers (US General) to AVEMCO and saved about $500. Currently @ 2100 for 3 pilots, 1 CFI. Quote Link to comment Share on other sites More sharing options...
procharger Posted June 4, 2023 Author Report Share Posted June 4, 2023 I am at 1500 CTLS $100,000 coverage. Va. Quote Link to comment Share on other sites More sharing options...
Anticept Posted June 5, 2023 Report Share Posted June 5, 2023 On 6/2/2023 at 12:12 PM, tevbax said: Moved from Travers (US General) to AVEMCO and saved about $500. Currently @ 2100 for 3 pilots, 1 CFI. One thing to note about Avemco, they tend to be cheaper because they have more sublimits than other insurers, lowering their exposure. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted June 5, 2023 Report Share Posted June 5, 2023 I have a renewal coming up next month, I'll let you know what the damage is this year. I'm 56 and insure the hull on my CTSW for $85k (yes, I'm over-insured). Quote Link to comment Share on other sites More sharing options...
andyb Posted June 5, 2023 Report Share Posted June 5, 2023 Like most things, it depends on what you have. Hull is pretty straightforward. Mine hull value is $120,000. On liability, there's a huge difference if you have sublimits. In a one passenger plane, your liability is generally your sublimit unless you cause damage on the ground. If you have a $1 million liability, with $100,000 sublimit, should you have a fatal or injury accident, your liability coverage to the passenger is only $100,000. FWIW, I carry $2 million "smooth," which means no sublimits. Should the wrong thing happen with the wrong passenger, that's not especially high coverage. My cost was $3,900 last year, and is $4,100 this year. Andy Quote Link to comment Share on other sites More sharing options...
Anticept Posted June 5, 2023 Report Share Posted June 5, 2023 Sounds about ballpark for 2 mil smooth. 4 people here, 3 CFII, one private with >100 hrs, 2650 for a million dollar policy so far with the quotes coming in. Quote Link to comment Share on other sites More sharing options...
FlyingMonkey Posted June 6, 2023 Report Share Posted June 6, 2023 Nasty little surprise. My yearly quote jumped over 18% from $1521 last year to $1789 this year. Not horrendous, but not a good trend. I questioned my broker about it and this was his response: We continue to see overall increases on the LSA’s. The traditional C172/PA28 premium have leveled off for the most part. We did put this out to bid and received the following quotes (besides the one that was sent to you): AIG - $3630 Global - $1931 ORA- $2430 Starr - $4148 IAT - $2579 So I guess maybe I shouldn't complain given those other quotes... FYI, this is for me at 56 years old, 935hrs in type and 1050hrs total, with me as a named pilot and any other pilot covered if they have 5hrs in type and 300hrs total, $1M/$100k limits, and $85k hull. Quote Link to comment Share on other sites More sharing options...
Warmi Posted June 6, 2023 Report Share Posted June 6, 2023 When I said my payment went down by some amount , well it did but it is still at $2,335.00 at 80k hull and I am a bit younger than you ( with 500 hours and most of them in my plane ) - so you are still ahead Quote Link to comment Share on other sites More sharing options...
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