Just renewed for $2,025. $75K hull 20,000+ hrs, 1,200 tw, 500 maule.

Just an update. My agent apparently didn't do his job. I contacted another agent that got me 3 quotes with AIG being the lowest, 1845 on 60K hull. I'm surprised he wasn't locked out. Anyway, price is more in line with everyone else. I also understand AVEMCO is competitive now, previously they were much much higher.

Ralph
Akafrank

Travers- underwritten with Starr-
Aircraft- Maule MT7-235
2 named pilots- 1st a 9000hr CFI,CFII,MEI with 107 hr M7-235 time.
The 2nd - student pilot with 12 hrs in Cessna 172 and no maule time. Restrictions are a 25 hr dual before solo and 10 before carrying passengers.

Hull Value:$180,000
Not in Motion deductible : $0
$1,000,000 Combined Single Limit (Bodily Injury and Property Damage) Subject to: $100,000 Per Passenger
$5,000 Each Person

$$ annual premium $$$ 9,612.00 — yep that’s right- over Nine and a half grand!! Yikes....

The big things working against you on the premium are the high hull value, your low time pilot and low make/model time for both pilots. The quote usually breaks down the premium by hull value and liability. The liability premium is usually much less than hull value. One option you have to get the premium down is to reduce your hull value. The downside, of course, is that if you total the airplane, you will only get the hull value. That's feasible if you have the financial resources to cover the difference when you buy another airplane. Even though your named pilot has a lot of ratings and hours, 107 hr of Maule time isn't considered a lot by the insurance companies. It's also not in the same model. Insurance companies want a lot of time in the same make/model before they will give you a break on the premium. The make/model break points for me were 250 hours, 500 hours and 1000 hours. They might be different now since that was many years ago.

Just got the new quote from Duncan; last year $1919, this year $2626. No accidents / incidents, fly an average of 3x per month with much of that being TOs and landings for practice. ~300hrs, 250 TW, 200 in our current plane (M5-180C). SEL/SES, working on IFR (but dayjob keeps getting in the way). Does that sound pretty reasonable in today's climate? I'm not sure it's worth the hassle trying to get a better rate.

merrymunks wrote: ↑

Fri Mar 05, 2021 6:21 pm

Just got the new quote from Duncan; last year $1919, this year $2626. No accidents / incidents, fly an average of 3x per month with much of that being TOs and landings for practice. ~300hrs, 250 TW, 200 in our current plane (M5-180C). SEL/SES, working on IFR (but dayjob keeps getting in the way). Does that sound pretty reasonable in today's climate? I'm not sure it's worth the hassle trying to get a better rate.

Hull value?

It's reasonable in today's climate. Mine went up quite a bit too even though I fly about 100 hrs per year, no accidents or incidents and 1800 hrs in make/model. One thing working against me is my age (74) although I maintain a current 2nd Class medical for work and do a phase of WINGS training each year. All the articles that I've read say that the entire aviation insurance industry is trying to make up losses by raising premiums and denying coverage. Here's are some good articles from AOPA:

https://www.aopa.org/news-and-media/all ... ge-in-2021
https://www.aopa.org/news-and-media/all ... 00-percent

Experts say that it's cyclical every 2 - 5 years because there's a time lag between what insurers do in a hard market to the effect on their business. High insurance premiums started in 2020 in my case so I may have to wait a few years to see them drop.

$1500 this year up from $1250 last year. $65,000 hull value, 600 hours in type.

Hate to dredge this up again but after 15 years with Travers, they informed me QBE no longer writes anything under 2,500 dollar premium policies and a quote from Old Republic is 500 more than last year on my M4-220C with a 42k hull. I know the hull is too low but I've left it there over the years to keep the premium low. It was 1,096.00 last year, 1,567.00 this year. I am going to go to the usual places but if anybody has a new favored broker or carrier, let me know. I will likely place insurance with our 182 if that makes any difference. I had to split them last year because the 182 was too high from Travers. Really disappointed in them and told John Travers that last year when they wanted so much for the 182.

I used to go through Falcon Insurance and they got me policies with both Global and AIG for years for around $1600/year for $99K hull value (MX7-180) and $1,000,000 liability and $100K/person. In 2020 they raised my quote to $2,200/year and I balked. I now go through BWI and they've insured me with Global for $2,094/year with the same coverage. I'm still with them. I have just over 2,000 hours PIC, a commercial license, an instrument rating and over 1,000 hours in the Maule. It's all I've flown since buying it in 2013.

I even looked at trading down to an LSA aircraft thinking I could get lower premiums and asked about coverage for a motorglider like the Pipistrel Sinus. I don't use the Maule's hauling capacity much anymore since the kids are gone and the wife is done with sleeping on the ground. I was shocked to get a quote of more than double what I'm currently paying. At some point I'm gonna have to give up flying because the fixed costs of owning a plane are so darned high. It will break my heart when that day comes.

Gets much higher and i'm going liability only and take my chances.

gbarrier wrote: ↑

Thu Sep 02, 2021 3:16 pm

Gets much higher and i'm going liability only and take my chances.

Me and you both, Gary.

From what I’ve paid in premiums in the last 5 years, I could have a nice chunk saved for repairs already

Mine took a jump in 2021 too even with no claims, 1800+ hrs PIC in make/model, commercial certificate, instrument rating and 2900+ hours. It's likely due to the $120,000 hull value since the rest of the coverage is standard. Everything I've read says it's cyclical and due to losses that the insurance companies have taken in aviation and other markets, increased claims for insured aircraft, a shrinking pool of aging aircraft, a shrinking pool of insurers, increased repair costs and a variety of other factors. Take a look at this 2020 article: https://www.aopa.org/news-and-media/all ... 00-percent

No increase for me next year. $2700 80k hull

My quote from Avemco within the last few days- ~$2,500

Pilot info-
CMEL//CSEL+IFR
+600PIC, +300TW

Aircraft info-
M235 Variant
$75,000 hull
Told them I would have 10hrs dual received