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Post by redpro on Apr 6, 2020 1:14:30 GMT
Hey all-
Curious about rates you’re getting for Aerotrek insurance...
Thanks!
-Red
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Post by Dowdy on Apr 7, 2020 0:04:59 GMT
I'm embarrassed to say this, but I paid a little over $3,200 for my insurance. I was/am a low time pilot though. When I got this quote I had roughly 40 hours (verifiable) with 1 in an Aeropro.
I shopped around too.
The aviation insurance market was/is charging crazy rates. Some say it's because of the 737 MAX drama. Who knows if that's accurate.
I hope you are able to find a better deal than me. They assure me it will go way down next year when I have 100+ hours with the majority in my A240.
What has been your experience? I know you're a career pilot so I'm sure you are getting pretty good quotes!
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Post by redpro on Apr 7, 2020 1:55:28 GMT
The best quote I’ve seen so far is $2000. That’s with a zero deductible, $100,000/$1,000,000 coverage.
I’ve been told that rates are higher this year vs. last, but this is my first year in the game, so I don’t have a reference point. I’ve got over 8,000 TT, 5,000+ jet, multiple types, zero accidents/incidents and $2,000 is the best I’m getting quoted.
Hopefully it goes down a bit next year. Who knows- crazy times we live in right now.
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andy
New Member
Posts: 10
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Post by andy on Apr 7, 2020 5:51:50 GMT
Have been with AOPA insurance for 3 years my last premium was 1,800. I have PP w/instrument rating with 500 hour total time. I fly about 100 hours a year and acquitted a wings endorsement and do a flight review every year. My first year 2017 was about 1,200 and it has increased about 200 dollars a year since that time. I will shop around a bit this next time in September just to take a look. AOPA does shop for rates for you but I want to see if I can do better. All Aircraft Insurance rates have gone up the last few years and I can't fully understand the reason. Hope this helps.
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Post by redpro on Apr 7, 2020 9:42:00 GMT
Thanks Andy.
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andy
New Member
Posts: 10
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Post by andy on Apr 11, 2020 19:45:09 GMT
Continuing with insurance.....I wish I new how rates are set. I know being a sport-pilot, the aircraft type and cost have a effect but how much and which being more detrimental to your rates. In most insurance you can reduce your premium by gaining added certification, reducing risk and behaviors. Not sure how it works in the flying world.
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Post by redpro on Apr 11, 2020 20:12:14 GMT
I’m new to the small airplane insurance game. But when shopping quotes recently, I found that the biggest variables to the annual premium were (1) How much I was insuring the airplane for, and (2) How much I wanted to pay in deductibles.
So to cover my plane for a higher amount, say for $100K vs. $70K and wanting zero $$ deductibles vs. $2500 deductibles, the annual premium was accordingly higher. Seemed to be in lock step with auto and home type policies.
Other smaller contributing factors I found were total time in type, total flight times, overall pilot ratings, recency of experience, and FAA safety record. But again, cumulatively these didn’t seem to move the annual premium needle much for me.
I was told that several insurance carriers were exiting the space this year, thus causing higher premiums as well.
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perry
New Member
A 2019—A220
Posts: 1
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Post by perry on Apr 16, 2020 1:47:57 GMT
I’m a new member here and want to add to the insurance issue. I have had a Piper a Maule plus a Highlander and have not paid close to what I paid for insuring my 2019 A220 the last two years. AOPA insurance has always quoted me the highest rate. Avemco has the last two years been the lowest I have found which I still feel is to high. This year my policy is costing $2600.00. I have $80,000.00 hull and no deductibles. I also have never had an accident or a claim of any kind and have an instrument rating plus over 1000 hr in tail wheel aircraft. Other than the insurance cost I really like my A220 .l
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