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Insurance Quotes

stneki

Well Known Member
Patron
Has anybody received any good quotes on insurance. Mine has gone way up.

Thanks. Steve
RV 7A Completed
Dues Paid
 
mine keeps going down too

its like 1200 a year with 65k hull. its been dropping 200 a year for the past 3 years.

Randy
8A
 
I just switched to Nationair and mine went down $300 from last year for better overall coverage. Had to pay an extra $90 surcharge to add on two buddies as named pilots, but still that's $210 net savings.
 
Has anybody received any good quotes on insurance. Mine has gone way up.

Thanks. Steve
RV 7A Completed
Dues Paid

Steve, Did anything change? What company are you with / have you been with? (not your broker, what insurer?) When was your renewal date? What has been the trend over the last few years?

We probably are at an end to the downward trend that has been happening over the past few years. That trend is not some sudden enlightenment that RV's are wonderful, rather it is a reflection in an overall downward trend of the entire insurance marketplace. Seen signs that that is ending - especially with small aircraft. Everyone needs to budget for 5-10% premium increases over the next few years.
 
Need to shop it.

But don't shop brokers. Have your broker shop markets - and ask him/her to show you all the quotes. Especially for renewing policies. Sometimes brokers will renew with the expiring carrier with just a cursory glance at the rest of the market.
 
He may have been with company X a year ago, which was offering very low rates. But apparently they were too low, X withdrew from the market.
 
Has anybody received any good quotes on insurance. Mine has gone way up.

Thanks. Steve
RV 7A Completed
Dues Paid


If you are getting the quote from the same insurance company you were with last year and if nothing changed (raised value, added pilot) it may just be a simple rate increase. There are a few companies that have had had rate increases across the board on light aircraft. Make sure your broker has checked all the available insurance companies and ask what the other quotes are. There are some companies increasing their rates while others are still pretty low. Make sure you can compare the policy coverage between the insurance companies before just looking for the lowest price.

Jenny Estes
NationAir
 
so...what are the rules? :)

Jenny,
I have been insuring for 5 years now, and only learn bits and pieces. Not a lot of brokers will have a frank discussion about it....from what i hear, if I have meet certain conditions, I get a certain rate.
some underwriters paint with a broad brush, others seem more specific.
for example; when I started flying after a 25-year hiatus, most required 5 or 10 hours of dual before 'in motion' coverage would be offered at all.
Oddly, none seemed to care if I bought a tailwheel RV ( or didn't know the difference?)...or if I operate off private grass strips on the side of a mountain!

Now, if I have 50 hours on type, or 100 or 150, will i see some incremental changes?
If I fly my usual 9 hours a year, will I be considered much higher risk than if I fly 15 in the 90 days before I apply ;)

perhaps you can enlighten us on what kind of behaviour is rewarded, or puts us in the red flag category.

I just paid $1800 with a $175 deduction for taking an egress course last fall, for $89,000 in motion coverage with a $500 deductible.
 
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Hi all,

Am looking to purchase a flying RV-9a with a friend. We are looking at brokers for insurance. So far I have chatted with AOPA and Nationair. Any thoughts on which brokers are good or bad before we choose? Others I should talk with?

thanks

mgm
 
I have been real happy with SkySmith for 14 years. Great service and they show me the quotes they get well before renewal time. Very transparent. Everything can be handled by e-mail, which I like, and they have it set up so you just make yearly changes on the web.

http://www.skysmith.com
 
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Thanks to the group for your help. I am flying a RV7A with 15 hours in type and 400 total single engine land VFR.

Before I had any time in an RV my premium was around $1350.00 full coverage with a hull value of $90,000.00.

The new quote through Falcon with Chartis is $1850.00. My previous carrier is no longer writing coverage according to Falcon Insurance

I have had no claims or violations

I will contact Scott Sky Smith and see what is available.

Steve
N315S
Dues Paid
 
Thanks to the group for your help. I am flying a RV7A with 15 hours in type and 400 total single engine land VFR.

Before I had any time in an RV my premium was around $1350.00 full coverage with a hull value of $90,000.00.

The new quote through Falcon with Chartis is $1850.00. My previous carrier is no longer writing coverage according to Falcon Insurance

I have had no claims or violations

I will contact Scott Sky Smith and see what is available.

Steve
N315S
Dues Paid

Steve, Your former insurer spent 2 years giving out very low rates and then went out of business - imagine that. Your new insurer has ticked up rates a little, due partly to the other insurer's exit from the market.

Rates are very market force driven - much more so than ANY specific underwriting details.
 
Jenny,
I have been insuring for 5 years now, and only learn bits and pieces. Not a lot of brokers will have a frank discussion about it....from what i hear, if I have meet certain conditions, I get a certain rate.
some underwriters paint with a broad brush, others seem more specific.
for example; when I started flying after a 25-year hiatus, most required 5 or 10 hours of dual before 'in motion' coverage would be offered at all.
Oddly, none seemed to care if I bought a tailwheel RV ( or didn't know the difference?)...or if I operate off private grass strips on the side of a mountain!

Now, if I have 50 hours on type, or 100 or 150, will i see some incremental changes?
If I fly my usual 9 hours a year, will I be considered much higher risk than if I fly 15 in the 90 days before I apply ;)

perhaps you can enlighten us on what kind of behaviour is rewarded, or puts us in the red flag category.

I just paid $1800 with a $175 deduction for taking an egress course last fall, for $89,000 in motion coverage with a $500 deductible.


I am not sure what type of RV you are flying but you are correct in saying that insurance companies do underwrite differently amongst the group. Some are more frugal while others like to take on the transitional pilots. They should and do quote differently between nose wheels and tail wheels.

Some insurance companies require a certain length for the runway to meet while others only want to know if it?s paved or grass. The important factor is if the aircraft is hangared or tied out and if you are in a state that is known for hail or windstorms. Some policies will list a higher deductible if damaged by a windstorm or not moved from the path of a hurricane. Some policies will reimburse you for costs you incur from relocating your aircraft to a different airport to move out of a hurricanes path. As far as hours flown in the last 12 months there are only a few insurance companies that will require you to get dual if you fly under a certain amount of hours a year.

You should receive a rate decrease once you hit the 50 ? 100 hour mark in your aircraft. However this also depends on your total hours, a pilot who had 0 time in their RV but had 10,000 total hours could be quoted a very good rate up front. So once they hit the 50 hour mark they may not see as big as a decrease compared to a pilot that had 200 total hours that reached the 50 hour mark.

Its not expected that you would or should know all this, but your broker should be familier with Vans aircraft and the insurance companies to know who will do what and what carrier will be the best fit for your situation.

I will be happy to answer more detailed questions feel free to email me at [email protected] or call me direct at 877-648-8267

Regards,
Jenny Estes
NationAir.
 
Jenny @ Nationair

I cannot say enough good things about Jenny Estes at Nationair Insurance. I have lots of hours in Mooneys (forgive me :) ) and she got me a policy I could afford on my new (to me) RV-6A. Just simply good service.

Jimmy
 
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