Insurance Cost

A catch-all forum for anything remotely related to Maule flying.
User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Insurance Cost

Post by crhannay »

I just renewed my insurance with AVEMCO on my 1999 M7-260 for $3702 with 1 million liability and a Hull Value of $170,000. Global quoted $3211 until I added a named pilot with 2654 hours in Maules but no Instrument rating. Global then went to $3,812. I was informed that age 69 is a changeover point where about half of the available insurers won't even quote me even with an ATP, 23,000 plus hours and 55 hours in Make and Model. This is really making me feel old. AVEMCO is great to work with and said I was in their lowest risk category. One great thing is that AVEMCO will let you drop the in-motion for 30 days at a time with a quick phone call. You can do this with other insurance companies, but it is much more involved. This will save me a lot when we take trips in our RV. One other interesting thing that the AVEMCO broker told me was that Maule Aircraft are actually appreciating in value unlike most aircraft.

User avatar
TxAgfisher
100+ Posts
Posts: 341
Joined: Wed Sep 23, 2015 8:58 am
Location: East Texas
Contact:

Post by TxAgfisher »

Holy cow, you need to call Angelia at Duncan. My $150k C180 is only $2400 and I'm low time.
TJ Van Matre

User avatar
LCDRLES
Posts: 49
Joined: Sun Mar 13, 2016 7:41 am
Location: KINK West Texas
Contact:

Post by LCDRLES »

Second recommendation for Angelia. My $150K C180 is $1600/yr and my $60K Maule $2600 with my low time daughter on the policy.
1984 M5 180C, N5654B
1956 Cessna 180, N4971A
1977 7GCAA, N1165E

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

I think there is a misunderstanding about insurance brokers. Any major insurance broker shops quotes from all the insurance companies other than AVEMCO that are insuring aircraft. It really matters very little which insurance broker you go through as the quotes will come in the same. Last I heard there are no more than 8 insurance companies writing policies on GA Aircraft. Because of my age and the type of aircraft half of those declined to even quote. I am in the absolute lowest risk category for my age. Also, you can only have one Insurance Broker solicit quotes. The insurance companies will not quote insurance to multiple brokers for the same individual.
Angela at Duncan will not get any different results than Falcon Insurance.

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

I would be willing to try Angela at The Duncan Insurance Agency on Monday. I think I can give them a release letter so they can shop new quotes. I know I have had to do the before. I show the number as (903) 886-2183 in Commerce, Texas, is that correct?
It not supposed to make any difference so it would be interesting to see if that gets any different results.

User avatar
TxAgfisher
100+ Posts
Posts: 341
Joined: Wed Sep 23, 2015 8:58 am
Location: East Texas
Contact:

Post by TxAgfisher »

972-227-8688, they are in Waxahachie
TJ Van Matre

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

Thanks TJ. I will give Angela a call this morning and see if she is willing to shop quotes again for me. I would love to be wrong and see lower numbers come in.

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

I did talk to Angela at AIA this morning. She confirmed that her quotes for insurance will come in no different than my previous quotes. She said that Global Aerospace would be her lowest quote for a Maule at my age. She also said that there are really only 3 insurance companies out of 13 available that are writing policies on Maules. I will have to stick with AVEMCO from here on due to my age as she said they would most likely keep insuring me as I get older.

Sorry for the bad news. There is no Silver Bullet. It does not matter what Broker you use you will get the same quotes.
Curt

User avatar
AndrewK
100+ Posts
Posts: 374
Joined: Fri Apr 16, 2010 7:38 am
Location: Dallas, TX
Contact:

Post by AndrewK »

crhannay wrote: Angela at Duncan will not get any different results than Falcon Insurance.
I agree that the quotes should come in close to the same regardless of brokers but in my case the call paid off.

According to Falcon there was one provider that they were not able to get a response from when they were shopping around for my renewal that Angelia did hear back from. This provider came in a couple hundred lower than what Falcon was able to find with the other ones they had requested quotes from.

Interestingly the reason I switched to Falcon (from Duncan) back in 2011 is because at the time Falcon was able to offer a better rate.

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

I am glad that worked out for you. Given my age she felt there would be not change as the low quote would still be Global Aerospace and they would stick with the previous. I will try Duncan again next year and see how it comes out. Unless it is a huge difference I will have to stick with AVEMCO from here on due to my age as they would most likely keep insuring me as I get older.

User avatar
LT4247
100+ Posts
Posts: 237
Joined: Thu Nov 16, 2006 4:11 am
Location: GEORGIA
Contact:

Post by LT4247 »

Well, the current insurance situation is no longer a rumor for us.
No claims for 13 years and no problems. Nothing changed. No increased risk. Our renewal with AIG is due and it increased 60%! For no reason. Our broker says the insurance industry is shrinking and we now have a “hardningâ€￾ cycle. Our rate has been going down steadily over the years and now suddenly:::WHAM! We called around, tried everything. Got to eat it or sell out. Oh, and Avemco? They quoted 155% more than AIG.
Out of options.
J.R. Lane
GEORGIA
----------------------------
"I say all that big talk is worth doodly squat"!
- Granny Hawkins

User avatar
crhannay
Posts: 51
Joined: Thu Aug 30, 2018 7:36 am
Location: Afton, Wyoming
Contact:

Post by crhannay »

How much hull value? What was the total premium. Mine was $3,702 for a hull value of 170K with Avemco.

User avatar
Njacko
100+ Posts
Posts: 215
Joined: Wed Feb 19, 2014 10:26 am
Location: SW Scotland, UK
Contact:

Post by Njacko »

Some figures from Europe for an MX-7-180 whose driver has 600+ hours on make & model:

Liability only $1,100 or $1,700 to include 100k hull value.

Above is with glider towing and off-airport alpine landings which together increased the premium by about 25%.

Huge variation between quotes over here though. One insurer quoted $4,300 including the hull insurance.
MX-7-180 N280SA

User avatar
TomD
100+ Posts
Posts: 1361
Joined: Sat Aug 26, 2006 7:13 pm
Location: Seattle area ( S43 )
Contact:

insurance

Post by TomD »

Wait until you are 75 yo and then you can really have the joy of finding insurance at a good rate or at all.

TD

User avatar
Craigh-KRPH
Posts: 28
Joined: Mon Dec 09, 2019 1:13 pm
Location: Graham, TX (KRPH)
Contact:

Post by Craigh-KRPH »

Best I was able to come up with on $95K hull for a MXT-7-180A was around $1550 through AOPA.
Craig Helm
'97 MXT-7-180A
Graham, TX (KRPH)

Post Reply

Who is online

Users browsing this forum: No registered users and 8 guests