Insurance Survey

Insurance and various paperwork needed for our planes
MikeB
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Insurance Survey

Post by MikeB » Mon Feb 13, 2006 08:48

Wondering what insurance costs run for others. I just sent mine for renewal and recieved the quote from the same broker I've used for several years. It appears he quoted me $534 for liability and hull, but don't believe that the hull includes in-flight (have to clarify that yet).

Based on $18,000 value, 900 hours and 175 hours in TW, private grass strip and locked hanger. $500,000, $100,000, $1000 and $100 deductable.

Liability only would be $338.
"If God had intended man to fly He would have given us more money"

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joea
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Post by joea » Mon Feb 13, 2006 09:05

Am with the same agent that Jody is with, and very happy so far. Believe the name is Facer, out of IL.

Believe the cost is something like $800 or so but not sure what coverage I have. Overseas now and no access to my paperwork. Plane is kept hangared. More total time than I care to admit (am not really 300 years old) and about 1500+ hours Aeronca time but much of it years ago.

Good idea with the thread as we heard of some large increases in policy price last year.

Joe A

nowlen
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Post by nowlen » Mon Feb 13, 2006 10:06

i'm paying about 850 for 20k hull, in motion,inflight, etc and 1 million for liability. like joe i quit keeping track of my flight time after it got into 5 digits, except to document currency, and should be getting good rates. seems everything went up 10% since last year. i think we are still paying for the world trade centers . i wouldn't be carring any hull but my carrier won't sell just the liability. liability is 250 and hull is 600.
the problem is that you can't "shop" aircraft insurance and get competive quotes unless you are an insurance broker. once an individual makes an inquirey to one insurance broker/company all the other companies won't deal with you. bernie

Don Eide
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Post by Don Eide » Mon Feb 13, 2006 14:49

Hi Mike, and others,

My insurance comes due in June. Last year my insurance
cost $348.00 In June of 2004 it cost $348.00
Thats for $1,000,000 for Property damage and
$1,000,000 for each accident, and $100,000 each person,
Liability only, no hull. From Avemco, wheels or skis.
Over 21,000 hours TT and over 1700 tailwheel.
No accidents.

Just info
Don
7DC Champ
N84032

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Ed Clark
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Post by Ed Clark » Tue Feb 14, 2006 06:18

For the higher side: My son and I are student sport pilots with TT of 28 hours in training. Falcon Insurance has agreed to insure us with the stipulation that we get 10 hours dual and 10 hours solo prior to carrying passengers.

The rate is:
Full coverage on $28,500 hull and $1M liability subject to $100,000 per passenger is $1461. Reducing the hull coverage to only ground and taxi reduces the premium to $955. Reducing the hull coverage to ground not in motion reduces the premium to $828. If you did away with the hull coverage altogether and only carried liability the premium would be reduced to $462.

They told me that a CFI with less than 100 hours make/model must be listed on the policy and one with more can be an "open" pilot and not listed.
Ed Clark
'46' Champ 7ac
N84961

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joea
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Post by joea » Tue Feb 14, 2006 08:02

Ed,

Considering your experience level, that is not too awful bad. What will it be in a year or two when you have 200 hours or so in type? Hope that it is reduced to around $1000 or so.

Several of us have a lot of experience and are still paying $8-900 a year so your agent is not hitting you too bad now. Keep getting some more experience and it will all come together!

JoeA

MikeB
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Post by MikeB » Tue Feb 14, 2006 08:54

I'm actually considering just going with liability. Not because I'm cheap, but finding someone to repair a 1946 tube and fabric airplane would probably be near impossible in this neck of the woods (and get it back in a reasonable amount of time). If I happened to ding it :cry: , the best bet would probably be to take the wings off, trailer it to my shop and fix it myself.

I'm not really into mine that much, dollarwise, anyway. Mostly insurance get to be about choices and how much risk you want to take on. I knew a guy who had a Chief and his license/medical had expired years ago and he complained about the price of his insurance on the plane. I told him he might as well foget about it because the insurance wasn't valid anyway as long as he wasn't 'current'. Eventually he sold the plane and quit flying.
"If God had intended man to fly He would have given us more money"

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Ed Clark
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Post by Ed Clark » Tue Feb 14, 2006 17:43

Joe,

Thanks for the reply. Considering yours and the other posts, I would agree the price we are paying is fair (especially since it covers us both and one other named pilot).

I am anxious to see how it changes in the future...and look forward to finishing my license soon and set about running up the hours!

As my instructor says...it's time to get out there and fly the wings off it.
Ed Clark
'46' Champ 7ac
N84961

jim pacquin

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Post by jim pacquin » Tue Feb 14, 2006 20:56

I carry lib. and hull on the 7 BCM aeronca, 85HP. One million and 30,000 hull coverage. IF I could repair it myself in a timely fashion I would only carry libility. I can't so I pay 1100.00 a year to Avemco. I had the Stearman and two 140 Cessnas with them, and that may help a bit. Now I also have only hull for jan feb and mar. which really brings this 1100.00 down a bit. Its hangared and not flown for these three months. I feel their rate is fair and they seem to go out of their way to help if I have a question. Only one other person flys mine. He is CFI CFII, retired gulfstream, and 737 driver with high taildragger time. He is listed on the policy. The airplane is covered during these down months as long as its in the hanger OR outside being run up, moved, etc BUT NOT flown. Hope this helps. Member not a guest.

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Nathan K. Hammond
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Post by Nathan K. Hammond » Tue Feb 14, 2006 22:43

Insurance is a scam like real estate, politics, and WalMart in my opinion, but thats another discussion.
I've had really good luck working with Thomas Fry and Sons Inc. in Carmel. Indiana.

I'm running Liability for the time being, with AIG. Experience: 1200tt, 600 tw, 400 type, no accidents, aircraft kept in a hangar.

$500,000 in Liability
$100,000 Medical Pilot and Pax
$3,000 per Pax for Pysical Damage to Aircraft
Moving/non-Moving
Open Pilot Clause (1000tt, 500tw, 100type)

All total equals $305 a year.

I got it quoted with full coverage up to 1 million and hull value of $18,000 and that came out to $820 a year.

nkh
7AC-5691
Super 85-12F @ DVK

Clay Hammond

Post by Clay Hammond » Wed Feb 15, 2006 09:32

Just wanted to clarify....

its Howard Fry and Sons, Inc.

Tom Fry is the son and runs the operation now, his associate in the office is Valerie Cantwell and she can help you too.

800-408-2621

Tom has extremely good rapport with all of the aviation underwriters. Day in and day out he comes back with the lowest possible rates for my clients (I work in aircraft sales).

j. pacquin

insurance

Post by j. pacquin » Wed Feb 15, 2006 20:54

AIG is much in the news lately having been pounced upon by the SEC for improper conduct . May or may not be of importance but worth knowing. The broker would of couse say "Ohhhh,NOT a problem, excellent company!" ( A broker is a middleman of course.) I'm a Member not a guest.

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Rich Valler
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Post by Rich Valler » Thu Feb 16, 2006 14:32

In a similar vein to my last post!! My UK insurance costs for a 7BCM, one named pilot (circa 350H tot / c.180H on type), hangared, all risks:

$2.6M 3rd party Liability (mandatory minimum level)
$900 Excess (= deductible?)
$24K Hull value

Premium? ...... $1,700

Rich (in name only)

Tony Markl

liability insurance costs for Giving dual in a Champ

Post by Tony Markl » Fri Feb 24, 2006 14:47

Anyone giving dual instruction (no solo) in a tailwheel airplane? I have been doing this for 10+ years and can only find one company (AIG) that will handle this kind of business - called limited commercial. Information on other companies would be appreciated.

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joea
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Post by joea » Fri Feb 24, 2006 16:41

Tony,

Jerry E. is using his Champ for instruction. Hope he joins in on the thread.

Joe

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