Insurance costs...again

[WWhunter]

Hey guys! I just returned home last night and it is time to dust off the planes and pull them out of the hangar to let them see some sunshine. I did not have insurance on them as they have been hangared since last fall. I was on another site and they were discussing insured vs. self-insured and I figure I better call and get some coverage before those tires leave terra firma.
What are you guys paying for insurance and who is giving the most reasonable ratres? Liability and maybe hull. I could never afford to put hull on it when I was on floats but may do so this year....if I put it on floats.
WW

[Rick Hadley]

I'm paying about $1200 for liability and full hull on my Chief through EAA/Falcon Ins.

[MikeB]

I just paid $487 for $500,000, $100,000 $1000 through a broker down by Milwaukee (Aero Insurance). That's for ground coverage and liability only. I suspect it's AIG again although they haven't mailed the policy yet. Surprisingly, mine has been going down for the past several years........no complaints, but no claims, either. I'd prefer a blanket $500,000 policy but they apparently wouldn't write one.

MikeB

[joea]

About the same as Rick above but for the Sedan and an "actual value" policy.

This is through Facer, a company who insures a lot of us Aeronca types.

Melonie Birch

800 727 2147

[flyingfool]

I think I pay $860/year on my Chief. That is full hull ground AND flight. ($20,000 value) and I think $500,000 liability. That is with EAA and/or AOPA discount. I use AUA insurance. AUA is more of a broker and they go out and get quotes from several underwriters and then take the best quote. The hull costs is negligible. At least for a land plane as the $20K value is so small.
So to me "self insuring" for hull didn't make sense to me.

I also am 770 hrs total, commercial, instrument, CFI rating and over 100 hrs tailwheel and most of that time was in Champ or Chief.

My insurance went DOWN a few dollars last year. Probably because of recent tailwheel experience and going over 100 hrs tailwheel. My insurance is not due until July or August so I have not gotten a quote yet this year.

The insurance industry is a weird thing. There are only a few underwriters that all the insurance companies use. Once the underwriter gives a quote for that N number, they will give you the same quote and all other insurance companies that use that same underwriter must use that quote. This is what several insurance companies told me. I was shocked to find out that when I went to another insurance company for a quote. They called me back and said that "you must have already gotten a quote from someone else and I have to honor that price from the underwriter." I was shocked. So really there is very little shopping that you can do. make your first choice or two to obtain quotes carefully. Because once you do this you probably have tapped the few large underwriters and the quotes you get back is what you'll get.

[oksmle]

I pay $357.00 for a million of liability only through Airpower Insurance, LLC, out of Phoenix, AZ. Actually went down a bit from last year. Of my 800 hours about 400 is in taildraggers.
Dick S.

[flyingfool]

Do you have contact information for Airpower insurance LLC?

I wonder if they can sell insurance in Wisconsin? Insurance laws are strange.

[oksmle]

flyingfool .... Airpower Insurance, LLC: Tom Johnson, 36 West Ocotillo Rd., Phoenix, AZ 85013-1235. Ph: 602-628-2701. You will probably have to leave a message, but he is good about returning calls.

Dick S.

[Larry]

For several years now I have paid $900 for full coverage on my Champ using the EAA member discount with Falcon Insurance in Kerrville, TX 1-830-257-1000.

[WWhunter]

Dang, you guys sure are getting better quotes then I have.
The last I had through AOPA was just shy of $1,000 and that was liability only on my Champ.
I have around 600TT with roughly100 hours each of TW and Float time. Guess I need to get busy on the phone and call a few of these people you all have suggested.
Thanks much,
WW

[MikeB]

I wonder if the floats raise your premium cost. They must look at that as more liability......???

Mike

[flyingfool]

Floats I think quite dramatically raise the price. Both for the increased hazard. but also that float planes are often outside and exposed to risk of the weather than a hangared aircraft.

Even worse I think is amphib floats due to the possibility of gear down landings on water = capsized aircraft.

[MikeB]

A few years ago someone landed a amphib on blacktop with the wheels up. They said it made sort of a 'grinding sound' . Apparently didn't go over.

Mike

[jc pacquin]

Avemco. 1100.00 per year, hull and liability. I can call during winter months and reduce this to hull only if aircraft is not flown, say for two or three months. This is a big savings. They recently paid me in full for the hangar collapse due to snow buildup. They paid within 2 weeks, no stalling, etc. I have 2900 hours in taildraggers but this had no bearing on this accident. I'm sure the rate would be lower if I were younger. (The first question they ask is...."Is it hangared and where".) JC