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02-16-2012, 07:30 AM
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Join Date: Jan 2005
Location: Granbury Texas
Posts: 1,136
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RV-10 Insurance
Just checking the market. I have a quote for $2400 for a hull value of 150K. Just curious what the market is and if there are better alternatives.
Pat
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02-16-2012, 07:38 AM
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Join Date: Apr 2008
Location: Tennessee
Posts: 440
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Mind telling us where and from whom you got that quote?? Sounds like a great price.
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02-16-2012, 08:48 AM
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Join Date: Aug 2011
Location: Keller, TX
Posts: 408
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I'll check when I get home, but I recall mine was ~$1900 for a hull value of $120K with expectations for it to go down significantly after the first year.
I will re-post when I get the info. It is through AOPA and the folks I worked with were very helpful in finding the right insurance for me....some insurance companies required 10 hours dual in an RV-10 and 10 hours solo before having pax!!
The company I ended up with just wanted a log book endorsement with no min number of hours etc. They also have been very helpful with clearing others to fly the a/c (CFIs etc.).
__________________
RV-10 N331JH 3rd owner (First flew in 2005, #15 flying)
Northwest Regional 52F
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02-16-2012, 08:50 AM
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Join Date: Jun 2006
Location: Delaware, OH (KDLZ)
Posts: 4,196
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Quote:
Originally Posted by Pat Stewart
Just checking the market. I have a quote for $2400 for a hull value of 150K. Just curious what the market is and if there are better alternatives.
Pat
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That's around what I got for 160k coverage. It beats the $3,500 I've been getting this past year.
Jdanno, email me and I can provide details.
bob
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02-16-2012, 09:50 AM
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Senior Curmudgeon
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Join Date: Sep 2005
Location: Dayton Airpark, NV A34
Posts: 15,420
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Mine is in the same range, also insured for 150k
Skysmith did me the best for finding a good price, and they also covered me from first flight.
I would also recommend contacting Jenny Estes http://www.vansairforce.com/community/member.php?u=7968 at Nationair, she knows things RVish.
Good luck,
__________________
Mike Starkey
VAF 909
Rv-10, N210LM.
Flying as of 12/4/2010
Phase 1 done, 2/4/2011 
Sold after 240+ wonderful hours of flight.
"Flying the airplane is more important than radioing your plight to a person on the ground incapable of understanding or doing anything about it."
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02-16-2012, 09:51 AM
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Join Date: Feb 2008
Location: Taylorsville, GA
Posts: 748
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You should never have A quote. Make your agent show you ALL the quotes. Then you'd know the whole story. Any info you get here is subject to details that you may not know.
__________________
Jeff Rhodes - Taylorsville, GA
RV-9, 7 - going fast
BC-12D - going slow
jrhodes@v1salesmgt.com
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02-16-2012, 01:57 PM
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Join Date: Dec 2011
Location: Livermore, CA
Posts: 6,797
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Folks,
To compare apples to apples you need to know (1) the coverages, and (2) pilot experience and ratings. That's what the insurance companies go on.
For example:
$140K hull, $1M/$100K liability.
Phase 1 coverage included.
Pilot: commercial, instrument, CFII, 2000+ TT, 1000+ CS ("high performance"), but at the time (Late last summer) just 20 hrs in RV-10.
Premium: $2.8K
I wonder if there is an age bias here, I'm 63. At some point the insurance companies get nervous about age.
Rates seem to be coming down with a 3rd company entering the market recently. I hope so. I'm considering offering RV-10 type specific training (I have the FAA approval) in the San Francisco Bay area. But I've been quoted an extra $1K for insurance, so I'm not sure this makes business sense.
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09-04-2012, 11:58 AM
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Join Date: Aug 2011
Location: Keller, TX
Posts: 408
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Just Renewed My Insurance
Changed companies to Falcon since they gave the lowest qoute this year. I am underinsuring a little to reduce the cost some. For $120K hull insurance and $1M/$100K liability it is now $2231.
__________________
RV-10 N331JH 3rd owner (First flew in 2005, #15 flying)
Northwest Regional 52F
Last edited by Flying again! : 09-04-2012 at 11:58 AM.
Reason: Typo
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09-04-2012, 12:56 PM
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Join Date: Dec 2007
Location: Conyers GA
Posts: 347
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Do not underinsure
Quote:
Originally Posted by Flying again!
Changed companies to Falcon since they gave the lowest qoute this year. I am underinsuring a little to reduce the cost some. For $120K hull insurance and $1M/$100K liability it is now $2231.
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When you underinsure, do you realize that the insurance company has the option of totaling your airplane and taking the wreck and only paying you the coverage limit. Are you willing to sell your wrecked plane to them for $120K?
Gary
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09-04-2012, 01:16 PM
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Join Date: Dec 2011
Location: Livermore, CA
Posts: 6,797
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Falcon is a broker - it is their job to represent you to various insurance companies and plead on your behalf for the best coverage and rates, while at the same time being honest about your qualifications. I always found this middle man thing to be a bit odd. Of course they are supposed to give you an unbiased assessment of your needs and what you are getting.
But that aside, do you know what company they placed you with?
And, for honest comparisons, would you care to divulge personal data? (total hours, RV10 hours, instrument rating yes/no)?
I would also echo the above comments, be careful about under-insuring. If you have a $100K accident the insurance company will likely give you $120K. But then they will own it, and they'll part it out, selling engine, avionics, etc, to reduce their loss.
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