Maule Insurance

A catch-all forum for anything remotely related to Maule flying.
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buller
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Maule Insurance

Post by buller »

My insurance increased by 47%. This is for a 16,000 + hour ATP CFII ME with 2500 hours tailwheel and 1000 hours in make and model. No history of claims or accidents or Violations. Also no named additional pilots. These insurance companies are using their losses in other area to justify these rate increases. Things like the 737 MAX accidents and tornado damage etc. I don't see how I am responsible for those losses.

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Flyhound
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Post by Flyhound »

You're not responsible for those losses, but 2019 was a really bad year for aviation insurance losses. The combination of higher overall accident rates and severe storm damage at multiple airports affected the insurance company's bottom line even if you personally had no claims. The insurance market is a statistical business. As a result of last year's losses, the risk calculation for all policies had to be adjusted. Unfortunately, the risk associated with insuring any airplane has increased and that affects all of us regardless of our individual records. The alternative would have been for the insurers to just exit this market, and a lot of them did. Here's a good article about the changes in the industry:

https://www.bydanjohnson.com/why-are-ai ... perts-say/
Por mares nunca dantes navegados - a line from a Potugese poem about exploring the unknown.

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TxAgfisher
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Post by TxAgfisher »

Buller, that's a sharp plane in your avatar!
TJ Van Matre

Rezrider
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Re: Maule Insurance

Post by Rezrider »

buller wrote:My insurance increased by 47%. This is for a 16,000 + hour ATP CFII ME with 2500 hours tailwheel and 1000 hours in make and model. No history of claims or accidents or Violations. Also no named additional pilots. These insurance companies are using their losses in other area to justify these rate increases. Things like the 737 MAX accidents and tornado damage etc. I don't see how I am responsible for those losses.
I feel your pain, but I'm curious, forgive me for asking but what is your age? Insurance companies have been saying that age is a factor and I'd like to know if that is happening or not. Bull$hit if it is.

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gbarrier
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Post by gbarrier »

Guess it's kind of like what happened back in 99 after the Payne Stewart crash. Many underwriters left the market leaving only something like three. Insurance rates over doubled. We were in the charter business and it hit us pretty hard. With time new underwriters entered the market and rates came back down.

It is very disappointing to see that the aviation market is not large enough to stand alone and has to be grouped with other markets.

My rate went up about 10% this year. Seems to be about like everyone else so doubt it was due to age. We can call Bull$hit but At 73 I know that I am not as sharp as I was 30 years ago. I also know I was flying a whole lot more back then than now. Just got to pay attention and work hard at it.

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VH-MEU
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Maule Insurance

Post by VH-MEU »

The same is occurring in Australia with the number of insurance companies prepared to insure aircraft reducing. My M5's annual insurance (AUD $80K Hull & AUD $2M legal liability to third parties) for 2020 was AUD $3,072 (ie. approx. USD $2k) The policy also has the following limiting term:
"ONLY VALID SUBJECT TO ANY PILOT FLYING THE AIRCRAFT BEING UNDER THE AGE OF 75 YEARS"

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gbarrier
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Post by gbarrier »

Ouch !

FJLG
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Re: Maule Insurance

Post by FJLG »

I just got a quote for a 1999 M7 260 on amphips. I have no maule experience so no doubt that is extra but have 400 hrs retractable gear and 250 on amphibs on a Super Cub. $5300, $200000 hull value OUCH

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andy
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Re: Maule Insurance

Post by andy »

The $200,000 hull value is probably what is driving your premium up so much. Liability insurance isn't too expensive. You could lower your premium by lowering the hull value. Maule insurers like to see lots of time in make/model before they will give you a premium break. You could pick up dual time with an instructor and they might lower the premium some but I don't think you will get much of a break until you reach 500 hours in make/model.
Andy
1986 MX7-180

FJLG
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Re: Maule Insurance

Post by FJLG »

Very true, I was first quoted with a $155 k hull value and the premium was $4100 so I think I will lower the value a bit after the first year

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