Renewal up $250

Insurance and various paperwork needed for our planes
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SFC Hiatt
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Location: Buda, Texas
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Renewal up $250

Post by SFC Hiatt » Sat Mar 22, 2008 19:47

Just got my renewal quote from Falcon Insurance and it went up $250 for an 11AC. Isn't it suppose to go down with experience? I have over 350 hours, 200 in a Champ and 150 in a Chief.

Quote: Hull for $18,000 all risk ground & flight $805
Dedectible $100 Not in motion & In motion
Liability: $1,000,000 Combined Single Limit
limited to $100,000 per passenger $240
Medical Payments $3,000 per person included "how nice"
Use: Pleasure or Business
Approved pilots: Me or any private pilot with at least 1000 total logged hours of which a minimum fo 250 have to be in conventional gear aircraft and 25 of which have been in the make and model hours.

Total Premium: $1,045
Any ideas or is all insurance going up?

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bwmatz
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Insurance

Post by bwmatz » Sun Mar 23, 2008 10:35

Chris,

Call your agent and make sure they did their duty to shop for the lowest rate for you and didn't just renew with the same underwriter you had last year. A couple years ago, some of us with AUA got a surprise as our rates went from the mid $500's to close to $1000. Somebody called and they ended up finding a rate just slightly over the $500 amount with another underwriter. My premium renewal with AUA just came last week and the amount is the same as last year...$621. Your rates should drop a little with more experience although you may not notice as the rates go up overall.
Brian Matz
1946 11AC NC9485E
S/N 11AC-1121
Based @ Barber Airport, Alliance, OH (2D1)
bwmatz11ac@yahoo.com

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SFC Hiatt
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AUA contact

Post by SFC Hiatt » Sun Mar 23, 2008 11:28

Thanks for the information. Do you have a POC for AUA?

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joea
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Post by joea » Sun Mar 23, 2008 11:33

Chris,

I would use your old insurance agent for this and just ask them to look into AUA and their rates. Most agents are brokers and should be looking at several providers for your needs, not just one.

For a POC sure you can find them on the internet.

Joe

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bwmatz
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Post by bwmatz » Mon Mar 24, 2008 17:03

Chris,

AUA, like Falcon, is just a broker. They deal with the underwriters and should look around to find you the best premium among all the underwriters out there. My broker is AUA, but I am insured with the underwriter US Specialty. If you are happy with Falcon, stick with them, just ask them if the premium they quoted is the lowest they could find.
Brian Matz
1946 11AC NC9485E
S/N 11AC-1121
Based @ Barber Airport, Alliance, OH (2D1)
bwmatz11ac@yahoo.com

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