rv-10 insurance

[Skeejere]

thoughts on insurance premiums for RV-10? I realize this depends heavily on pilot experience, number of hours, etc. But just wondering people's thoughts/experience for this type of airplane....

[cderk]

My thought is that its !@3!%$ expensive.
500+ hours, Instrument rated. I?m paying $2700 a year for this first year. We?ll see how much it drops year 2

[TShort]

I'm in year 3 of -10 ownership, 900+ hours total time, no instrument ticket
250+ hours in the -10

Mine went up again this year, now at $3286 ($2996 last year). No changes in coverage etc.

I have no accident history, etc.

[rleffler]

Originally Posted by cderk

My thought is that its !@3!%$ expensive.
500+ hours, Instrument rated. I?m paying $2700 a year for this first year. We?ll see how much it drops year 2

I was about the same. Initially I had $200k hull, it now I just carry $175k. Year two dropped to about $1,800 and it?s remained pretty flat the last six years. Last year I saw a slight increase.

[rleffler]

Originally Posted by TShort

I'm in year 3 of -10 ownership, 900+ hours total time, no instrument ticket
250+ hours in the -10

Mine went up again this year, now at $3286 ($2996 last year). No changes in coverage etc.

I have no accident history, etc.

I didn?t think the lack of IFR had that big of an impact. I thought it was more like a 10-15% discount.

You?re almost a 180% of what I?m paying for $175k hull and you have more total hours than I have. What insurance company? That doesn?t seem to be in line with the average rates that I?m aware of at the moment.

[TShort]

Originally Posted by rleffler

I didn?t think the lack of IFR had that big of an impact. I thought it was more like a 10-15% discount.

You?re almost a 180% of what I?m paying for $175k hull and you have more total hours than I have. What insurance company? That doesn?t seem to be in line with the average rates that I?m aware of at the moment.

I'm insured for $230k, 1 million liability with 200k sublimits. The extra 100k sublimit was worth $195/year.

Old Republic via Gallagher. All the quotes they got were pretty similar...

[lr172]

Originally Posted by cderk

My thought is that its !@3!%$ expensive.
500+ hours, Instrument rated. I’m paying $2700 a year for this first year. We’ll see how much it drops year 2

similar here. 750 hours and inst rated. First year premium with $175K hull value was 2400. I would expect this to go down in the second year. Some of this is new. My quote a year prior, before I was ready, was only 2100.

Larry

[mciaglia]

Originally Posted by TShort

I'm insured for $230k, 1 million liability with 200k sublimits. The extra 100k sublimit was worth $195/year.

Old Republic via Gallagher. All the quotes they got were pretty similar...

DROP GALLAGHER!!!!

I had them with my Christen Eagle, my rates went from 2300 to 3800. Got a new quote with AirCapital and was quoted 2100. That is for high performance biplane, no IFR and ~350hrs. Agent even told me gallagher is always high

[Sam Buchanan]

Originally Posted by mciaglia

DROP GALLAGHER!!!!

I had them with my Christen Eagle, my rates went from 2300 to 3800. Got a new quote with AirCapital and was quoted 2100. That is for high performance biplane, no IFR and ~350hrs. Agent even told me gallagher is always high

Be looking for some pushback from your post....

[BobTurner]

Originally Posted by mciaglia

DROP GALLAGHER!!!!

I had them with my Christen Eagle, my rates went from 2300 to 3800. Got a new quote with AirCapital and was quoted 2100. That is for high performance biplane, no IFR and ~350hrs. Agent even told me gallagher is always high

This is not how the system works. Agencies like Gallagher provide service; they do not write policies themselves. You should have called them and asked for an explanation. One possibility is that the new agency mis-represented you, leaving out something negative? (If so and you ever file a claim, expect trouble). Another possibility: some years back people on vaf were raving over their great quote from insurance company X. I called Gallagher, asked why they didn?t offer me a quote from X. They told me that they wouldn?t quote them, because they lacked financial stability. Sure enough, 7 months later X dropped the aviation market, and all the policy holders were scrambling to get coverage. This is the kind of advice you pay a broker for. So, again, call Gallagher. $2100 vs $3800 something smells fishy.