DonFromTX
Well Known Member
I have only been a pilot and aircraft owner for 50 years, but have never understood the aircraft insurance industry, despite the information gained from this forum, now I am even more confused.
I just got a reputable broker suggested quote from a company, price seemed steep, for $3690, with a claim that it was the only company that would even insure the risk.
A friend, despite guidance to not do that, went to a different broker, same input, and got a quote for $1652 from that SAME COMPANY!
I am left with the impression that companies give the same quote amount, and the broker then adds in their profit requirement, which apparently varies drastically. Can anyone aid in my continuing education? Does this mean that one should go to every broker he can find for the best price?.
I just got a reputable broker suggested quote from a company, price seemed steep, for $3690, with a claim that it was the only company that would even insure the risk.
A friend, despite guidance to not do that, went to a different broker, same input, and got a quote for $1652 from that SAME COMPANY!
I am left with the impression that companies give the same quote amount, and the broker then adds in their profit requirement, which apparently varies drastically. Can anyone aid in my continuing education? Does this mean that one should go to every broker he can find for the best price?.