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'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 $175k hull and you have more total hours than I have. What insurance company? That doesn?t seem to be in line with the average rates that I?m aware of at the moment.
My thought is that its !@3!%$ 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'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
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
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.
This looks pretty expensive to me, BUT, everyone is different, and it?s tough to compare without all the facts. Things no one talks about:
Age. At some point it makes a difference.
Hull value. We all love our planes, but if you claim an unrealistic hull value (high), the insurance company gets nervous. They don?t like it if an ?accident? could make the owner extra money.
Liability limits: I was offered a sub limit of $100K per passenger, or no sub-limits ($1 million ?smooth?). Cost difference of $400.
IFR rating is worth something, more for low time pilots, less for high time, it seems.
History. Some companies want no accidents, others will forgive one, especially if you?ve been with them for a while.
And other stuff I?m sure.
FWIW in this discussion:
I use a broker who found: AIG $1M/100K at $180K hull. First renewal was last Dec. $2040.
Even at first time underwriting with 0 RV10 time, is was just a little over $2100 with a 1 hour checkout from owner/builder.
I'm ATP, with CFI,I, ME and 6 type ratings.
At the time I had 12,000+ hours with about 400+ in complex ASELs
With insurance, it's such a toss-up. Without seeing the actuarials they use and the myriad factors that go into risk assessment, your flight experience alone doesn't always add up to a good rate.
I just bought my first GA plane, a RV-10, and my premium is $2300/yr for $175k. ....... I thought my CFII, ATP, airline and military flight experience would have made a difference in their decision making but it didn?t.
Here's the problem. You guys insure the hull for inflight damages. I only carried "Ground not in motion" plus liability on my 6A.
This has worked for me all my life. Insurance is a scam.
Jan 2021 renewal, $180K hull, $1M smooth (apparently no longer available to new customers, but still available on renewal) $2335/year. USAIG through Falcon.
Me: 3500 total time, 1400+ in RV-10, Commercial, Instrument, CFI, AGI, A&P.
Just got my renewal for this year. Went with a different carrier, but my premium dropped $1000 for the same coverage. Carrier is now HARCO. $200k hull and $1M liability. 130 hours in type now
So just to be sure you are now paying $1700? That seems far more reasonable. Do you have a link for HARCO? I might have to check them out.
I'm due for my renewal in a few weeks. First year was $2700 with AIG.
$239,000 hull ($0 not in motion/$0 in motion deductibles)
$1,000,000 per occurrence/$100,000 per passenger liability
$5,000 medical per passenger
Now I'm at 4400 total (about 450 more than last year) and 120 RV-10 (0 last year). Thought rates would drop with the time, but instead renewal is quoted at $2800. Seems rather backwards to me.