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01-02-2020, 04:14 PM
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Join Date: Jan 2005
Posts: 959
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Quote:
Originally Posted by Av8safe
my premium for full coverage went from ~$2,900/yr for a "show quality"
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Quote:
Originally Posted by jcarne
Holy cow, I thought most people on here paid around 1300-1500 a year for this, let alone someone with your hours! What am I missing guys?
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My guess is the Hull Value he chose to insure the "show quality" RV-7 for.
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01-02-2020, 04:42 PM
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Join Date: Dec 2011
Location: Livermore, CA
Posts: 6,797
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Quote:
Originally Posted by jcarne
Holy cow, I thought most people on here paid around 1300-1500 a year for this, let alone someone with your hours! What am I missing guys?
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You missed ?little TW and RV time?. Apparently these are thought to be prime indicators of risk, regardless of total hours. It?s not unusual for rates to be high until you?ve got 100 hrs in type. Although, usually not this high.
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01-02-2020, 04:47 PM
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Join Date: Jan 2019
Location: Vaca Moo Airport - TA37 in East TEXAS
Posts: 1,331
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Quote:
Originally Posted by BobTurner
You missed ‘little TW and RV time’. Apparently these are thought to be prime indicators of risk, regardless of total hours. It’s not unusual for rates to be high until you’ve got 100 hrs in type. Although, usually not this high.
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Last year I bought an RV-8. No time in RVs, hadn't flown a taildragger in 25 years, heck I hadn't flown an AIRPLANE in 12 years !!! I was flying helicopters for a living those last 12 years before I retired and I still paid $1491 (no deductible and $90k hull) so yes I think all of my certificates and total time do make a difference.
I didn't even get a minimum amount of hours to fly with another CFI, just have him endorse me as ready. It so happens I just got an email to renew this month, we'll see what they ask for now.
__________________
RV-8 N52VM: OnSpeed Gen2 AOA-3D, Dynon D-180, Autopilot, Titan 0-360A1A, Hartzell C/S, INS-429 IFR & GPS496, WingX & Stratux for backup & ADS-B IN. Enjoying life while building an airpark with FREE campsite for pilots www.facebook.com/VacaMooAirport/
Exempt by 3 out of the 10 ways but I still donated.
Last edited by Pilot135pd : 01-02-2020 at 05:54 PM.
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01-02-2020, 05:11 PM
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Join Date: Jun 2019
Location: Valparaiso, Indiana
Posts: 60
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Show Quality meaning higher end of the market
Carl,
By ?show quality? I simply mean the upper end of the RV7 market for IFR glass setups. The aircraft was a nice representative with custom panel featuring a dual 10 inch Garmin G3X touch, a GTN-650 Navigator, 305 autopilot, Garmin servos, etc...also a decent paint job and full leather interior. All the bells and whistles that had I been a builder, I would have included.
Let?s just say it was no more expensive than some of the 7 offerings out there today and if you extrapolate the numbers from a more modestly valued hull you still wouldn?t come close to the surcharge I am being quoted.
Final update...after communicating with a Falcon rep at the suggestion of the EAA Loss Protection specialist, they advise ? The aviation insurance market has hardened severely in 2019 and the trend appears to be continuing into 2020.?
Just putting it out there for situational awareness.
Fly safe,
Mitch
__________________
Mitch
RV-7 #72497
IO-360, Catto 3-blade, GRT & Garmin
2020 Dues (Plus) Paid
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01-02-2020, 06:36 PM
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Join Date: May 2005
Location: Boston, MA
Posts: 452
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Quote:
Originally Posted by jcarne
Holy cow, I thought most people on here paid around 1300-1500 a year for this, let alone someone with your hours! What am I missing guys?
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That's what I'm paying with Gallagher. Right after I renewed, I got a quote from www.bwifly.com for $1129 for the same thing. They are in Alaska and I had never heard of them, so I was reluctant to change. Gallagher has also been great to work with. I have around 250 hours in a tail wheel RV8 and 400 hours total TW.
I manage our commercial insurance program at work and an offshore captive insurance company for self insurance, and for the past two years, insurance markets have been extremely tight with increasing premiums. I've been moving a lot more to our captive and buying more cat coverage.
Edit: this is for $80k in hull value
__________________
Brian J.
Boston, MA
RV8 Based at ORH - Purchased
RV8 - The Project #83313 - Under Construction
Last edited by Northernliving : 01-03-2020 at 07:27 AM.
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01-02-2020, 06:56 PM
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Join Date: Jul 2016
Location: Worland, Wyoming
Posts: 1,365
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I figured many were still paying in the range I have seen before. The insurance company must really hate low TW (if that's the case, good thing I'm building an A model  ). Or like you said, high hull value.
__________________
Jereme Carne
PPL
RV-7A Emp. done
Wings done
Fuselage done
Finish kit almost done
Exempt but gladly paying!
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01-02-2020, 09:08 PM
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Join Date: Jan 2005
Posts: 959
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Quote:
Originally Posted by Av8safe
Carl,
By “show quality” I simply mean the upper end of the RV7 market for IFR glass setups. The aircraft was a nice representative with custom panel featuring a dual 10 inch Garmin G3X touch, a GTN-650 Navigator, 305 autopilot, Garmin servos, etc...also a decent paint job and full leather interior. All the bells and whistles that had I been a builder, I would have included.
Let’s just say it was no more expensive than some of the 7 offerings out there today and if you extrapolate the numbers from a more modestly valued hull you still wouldn’t come close to the surcharge I am being quoted.
Final update...after communicating with a Falcon rep at the suggestion of the EAA Loss Protection specialist, they advise “ The aviation insurance market has hardened severely in 2019 and the trend appears to be continuing into 2020.“
Just putting it out there for situational awareness.
Fly safe,
Mitch
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Thanks for the info. I think many of us were surprised by the $2900 number for an RV-7, even for a low time TW/RV pilot. So the only other variable that might have driven the cost up a lot would have been Hull Value. The recent ad for an RV-7 here on VAF asking $175,000 came to mind (not saying that was your hull value).
My last insurance renewal quotes for my RV-8 from different carriers and liability options are shown in the post below. Although I have a fair amount of TW and RV-8 time, others are/were getting similar quotes. I hope I'm not in for a big surprise this coming September!
http://www.vansairforce.com/communit...6&postcount=19 For a true comparison of premiums, info is needed on the hull value, liability limits, pilot quals, and extra pilots covered. Otherwise, the comparisons are apples to oranges.
Truly sorry for your accident with the deer. Seems like the insurance company shouldn't hold that against you as much as they have.
Enjoy your new RV-7!
Last edited by RV8JD : 01-02-2020 at 09:25 PM.
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01-02-2020, 09:32 PM
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Join Date: Jan 2019
Location: Vaca Moo Airport - TA37 in East TEXAS
Posts: 1,331
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I?m hoping Texas laws wouldn?t let them do that here. Thanks to our insurance laws (as per my agent) if you hit a deer your insurance rates can?t go up because it?s a normal occurrence here and not anyone?s fault except the deer?s.
__________________
RV-8 N52VM: OnSpeed Gen2 AOA-3D, Dynon D-180, Autopilot, Titan 0-360A1A, Hartzell C/S, INS-429 IFR & GPS496, WingX & Stratux for backup & ADS-B IN. Enjoying life while building an airpark with FREE campsite for pilots www.facebook.com/VacaMooAirport/
Exempt by 3 out of the 10 ways but I still donated.
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01-02-2020, 09:37 PM
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Join Date: Apr 2010
Location: Covid Country-SoCal
Posts: 1,081
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I'm sure paying a lot less than that with a 200k hull and a 4-seat aircraft.
When I started shopping insurance, my original broker stated "Expensive!" when I asked about the RV-10. I changed brokers and never looked back, other than to shake my head at what I almost had to pay.
-Marc
__________________
RV-10
N814RV
2020 Donation Made
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01-03-2020, 06:32 AM
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Join Date: May 2005
Location: Boston, MA
Posts: 452
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Quote:
Originally Posted by RV8JD
Thanks for the info. I think many of us were surprised by the $2900 number for an RV-7, even for a low time TW/RV pilot. So the only other variable that might have driven the cost up a lot would have been Hull Value. The recent ad for an RV-7 here on VAF asking $175,000 came to mind (not saying that was your hull value).
My last insurance renewal quotes for my RV-8 from different carriers and liability options are shown in the post below. Although I have a fair amount of TW and RV-8 time, others are/were getting similar quotes. I hope I'm not in for a big surprise this coming September!
http://www.vansairforce.com/communit...6&postcount=19 For a true comparison of premiums, info is needed on the hull value, liability limits, pilot quals, and extra pilots covered. Otherwise, the comparisons are apples to oranges.
Truly sorry for your accident with the deer. Seems like the insurance company shouldn't hold that against you as much as they have.
Enjoy your new RV-7!
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Thanks for the link to your comparison format, Carl. That's very helpful and shows a pretty wide disparity.
__________________
Brian J.
Boston, MA
RV8 Based at ORH - Purchased
RV8 - The Project #83313 - Under Construction
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