Current Insurance Quotes
- Stinger
- 100+ Posts
- Posts: 207
- Joined: Mon Sep 15, 2014 3:44 am
- Location: OKC/2OK7
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I purchased Maule insurance about two years ago for a 65k hull MX-7. 200 total hours and 5 hours of maule tailwheel time.FlyBall John wrote:Where is the threshold for time vs a reasonable rate? Is there a magic number like 50-hours, 100, etc? I’m low time (200 hours), 50 hours tailwheel and zero Maule time. Just curious how much time I will need before I see a rate get below $2k for $60k hull on a 4-seat Maule tail draggeer.
Thx
Little over $1400. Price has stayed the same for me over two renewals.
- HeavyLoad
- 100+ Posts
- Posts: 124
- Joined: Wed Jun 21, 2017 9:46 pm
- Location: Battle Ground, WA
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When was your last renewal? And who are you going through? I just a got a quote for $1800. And my last 2 years was $1200.Stinger wrote: I purchased Maule insurance about two years ago for a 65k hull MX-7. 200 total hours and 5 hours of maule tailwheel time.
Little over $1400. Price has stayed the same for me over two renewals.
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M5-210C
RV6
M5-210C
RV6
- DAT
- Posts: 30
- Joined: Fri Apr 24, 2009 2:59 pm
- Location: TN
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- andy
- Site Admin
- Posts: 1667
- Joined: Mon Aug 06, 2007 2:05 pm
- Location: Lake James, NC, USA
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Just renewed mine with AIG. It went up from $1684 last year to $2191 this year for $1M/$100K liiability with $120K hull. AIG's premium was $1850. The rest was the broker's fee and credit card payment fee. Unfortunately, you can't go directly to AIG - only through a broker. I could have saved some money by mailing them a check instead of paying by credit card.
Andy
1986 MX7-180
1986 MX7-180
- Stinger
- 100+ Posts
- Posts: 207
- Joined: Mon Sep 15, 2014 3:44 am
- Location: OKC/2OK7
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Last renewal was August or September I think.HeavyLoad wrote:When was your last renewal? And who are you going through? I just a got a quote for $1800. And my last 2 years was $1200.Stinger wrote: I purchased Maule insurance about two years ago for a 65k hull MX-7. 200 total hours and 5 hours of maule tailwheel time.
Little over $1400. Price has stayed the same for me over two renewals.
Brokers that use US Specialty seem to be the lowest.
- merrymunks
- Posts: 32
- Joined: Fri Apr 20, 2018 2:53 pm
- Location: KSPB
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Mine went from 1500 to 1900 this year (March 2020), no accidents / incidents. This is what the rep said when I asked him about it:
"The increase is due to the market that has risen over the last 12 to 15 months. The companies have taken big losses and have responded with higher premiums. The next best quote was $2,884.00. Your current provider was the lowest by far this year."
Current provider is XL Specialty / XL Pegasus.
"The increase is due to the market that has risen over the last 12 to 15 months. The companies have taken big losses and have responded with higher premiums. The next best quote was $2,884.00. Your current provider was the lowest by far this year."
Current provider is XL Specialty / XL Pegasus.
M5-180-C
- JerseyJim
- Posts: 41
- Joined: Mon Feb 19, 2018 6:55 pm
- Location: New Jersey
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Merrymunks I also have XL and renewed in February. Within weeks of getting my policy binder I was sent a letter that they would not be renewing after this year.
See copy from my broker:
I know I just renewed your insurance but was unaware of this prior to today. We have been advised by your current insurance carrier, XL Specialty they will no longer be writing or renewing their Pleasure and Business Light Aircraft policies. You should be receiving a letter from them in short order and didn’t want you to be alarmed. They will continue to service the policy until your renewal date of 02/23/2021. Should you decide you wish to move your insurance prior to the renewal date just let me know and we can shop the markets now. They have agreed to a Pro-rate cancellation should you decide to go this route. This company is not going out of business so no worries with regard to the solvency, just not longer writing this sector of business.
Please let me know if you have any further questions or concerns.
See copy from my broker:
I know I just renewed your insurance but was unaware of this prior to today. We have been advised by your current insurance carrier, XL Specialty they will no longer be writing or renewing their Pleasure and Business Light Aircraft policies. You should be receiving a letter from them in short order and didn’t want you to be alarmed. They will continue to service the policy until your renewal date of 02/23/2021. Should you decide you wish to move your insurance prior to the renewal date just let me know and we can shop the markets now. They have agreed to a Pro-rate cancellation should you decide to go this route. This company is not going out of business so no worries with regard to the solvency, just not longer writing this sector of business.
Please let me know if you have any further questions or concerns.
1984 M5 180-C
- DAT
- Posts: 30
- Joined: Fri Apr 24, 2009 2:59 pm
- Location: TN
- Contact:
Similar to JJ’s quote from his insurance company, the following is an excerpt from an email from our agent.
“We shopped the following:
AIG- $1962
Global- $2483
Hallmark Aerospace- $2167
Old Republic- $2194
The following carriers declined to quote for various reasons- U.S. Specialty Insurance Co., IAT, W.Brown, Acceleration, QBE
As you may have seen in various articles etc., the aviation insurance industry has seen an increase across the board and the market is hardening, unfortunately, with many carriers seeing premium increases up to 60% in some cases.â€
“We shopped the following:
AIG- $1962
Global- $2483
Hallmark Aerospace- $2167
Old Republic- $2194
The following carriers declined to quote for various reasons- U.S. Specialty Insurance Co., IAT, W.Brown, Acceleration, QBE
As you may have seen in various articles etc., the aviation insurance industry has seen an increase across the board and the market is hardening, unfortunately, with many carriers seeing premium increases up to 60% in some cases.â€
Maule M4 220C
- DAT
- Posts: 30
- Joined: Fri Apr 24, 2009 2:59 pm
- Location: TN
- Contact:
Similar to JJ’s quote from his insurance company, the following is an excerpt from an email from our agent.
“We shopped the following:
AIG- $1962
Global- $2483
Hallmark Aerospace- $2167
Old Republic- $2194
The following carriers declined to quote for various reasons- U.S. Specialty Insurance Co., IAT, W.Brown, Acceleration, QBE
As you may have seen in various articles etc., the aviation insurance industry has seen an increase across the board and the market is hardening, unfortunately, with many carriers seeing premium increases up to 60% in some cases.â€
“We shopped the following:
AIG- $1962
Global- $2483
Hallmark Aerospace- $2167
Old Republic- $2194
The following carriers declined to quote for various reasons- U.S. Specialty Insurance Co., IAT, W.Brown, Acceleration, QBE
As you may have seen in various articles etc., the aviation insurance industry has seen an increase across the board and the market is hardening, unfortunately, with many carriers seeing premium increases up to 60% in some cases.â€
Maule M4 220C
- gdflys
- 100+ Posts
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- merrymunks
- Posts: 32
- Joined: Fri Apr 20, 2018 2:53 pm
- Location: KSPB
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Thanks Jim. My broker just confirmed, though I haven't seen a letter from XL as of yet.JerseyJim wrote:Merrymunks I also have XL and renewed in February. Within weeks of getting my policy binder I was sent a letter that they would not be renewing after this year.
See copy from my broker:
I know I just renewed your insurance but was unaware of this prior to today. We have been advised by your current insurance carrier, XL Specialty they will no longer be writing or renewing their Pleasure and Business Light Aircraft policies. You should be receiving a letter from them in short order and didn’t want you to be alarmed. They will continue to service the policy until your renewal date of 02/23/2021. Should you decide you wish to move your insurance prior to the renewal date just let me know and we can shop the markets now. They have agreed to a Pro-rate cancellation should you decide to go this route. This company is not going out of business so no worries with regard to the solvency, just not longer writing this sector of business.
Please let me know if you have any further questions or concerns.
-Heather
M5-180-C
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- Posts: 15
- Joined: Tue Aug 14, 2018 3:32 pm
- Location: MA
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I'm embarrassed and sorry to say I helped contribute to the rate increase. I had an accident with my new to me Maule in October 2019. When I purchased the Maule in July 2019, XL was the cheapest quote. Having no knowledge or feedback about them I chose STARR for $3067 ('98 MX7-180a, $80k, 8hrs TL time). XL was $1786 or $2049 smooth.
At least I can say STARR was hassle free and quick to process the claim (Maule was the delay in providing the parts). Claim included a $16K- $20k recovery cost off a remote island. Getting it back in a few days.
There is more than just the lowest premium you can find. The second, less obvious is will they deliver when you have a claim. I just sent in my renewal. I just hope I don't get denied by all. Either way, I'll find a way to stay in the air. No new Kitchen this year!
At least I can say STARR was hassle free and quick to process the claim (Maule was the delay in providing the parts). Claim included a $16K- $20k recovery cost off a remote island. Getting it back in a few days.
There is more than just the lowest premium you can find. The second, less obvious is will they deliver when you have a claim. I just sent in my renewal. I just hope I don't get denied by all. Either way, I'll find a way to stay in the air. No new Kitchen this year!
-
- 100+ Posts
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- Joined: Wed Oct 23, 2013 7:53 am
- Location: CO
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It's funny to see all the different quotes listed here and to compare them.
I was with USAIG last year and it was due to go up a bit, the broker found a lower price with Global and I pay around $1250 for $60k hull value.
They said that prices went up due to a contracting market and that age played a difference to the quotes too.
Don't get too old out there folks!
I was with USAIG last year and it was due to go up a bit, the broker found a lower price with Global and I pay around $1250 for $60k hull value.
They said that prices went up due to a contracting market and that age played a difference to the quotes too.
Don't get too old out there folks!
1980 M5-235
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