Aircraft Insurance

brundridge

Do we have a company/broker who cuts us a good rate?

What’re you flying?

Who do you use?

What do you pay?

What percentage of market value are you insured?

I’m shopping for my 1966 140/180

Unit74

I’ve been with Wings Insurance for the last 6 or so years. I’m a cheap son of a B by trade and Wings is my choice. I think what you will find is that most prices will be about the same as there are not that many underwriting companies out there. Avemco is by far the highest I have found, double in fact last year when I asked for a quote outside my broker.

There are so many variables you can’t really compare your quite with others.

Give a call to a few agencies and see which in give you the good vibe. Here is Wings if you want to try them:

https://www.wingsinsurance.com/

Scott Sherer

Yes, we have a POS broker, he also writes in Pipers everymonth. His name is Sky Smith and is based in Des Moines, IA. https://skysmith.com/

planewrench

Have been using Skysmith since 2000 on both my Aircoupe and my current 172n. Generally have 3 quotes to pick from each year. Responsive group. Not like we are going to find a Walmart of insurance anywhere! LOL

AviatrixAntics

Victoria Neuville Agent, Commercial Pilot, CFIAviation Insurance Resources (AIR)P.O. BOX 32 | Frederick, MD 21705Ph 301-682-6200 | Fax 301-682-9793vneuville@air-pros.com | www.air-pros.com

Resq5hvy

So, no one has mentioned how much they pay but Ian with AVEMCO.

My setup is:

Chief pilot is a CFII, 4,000 plus hours.

My wife PPL no instrument rating. She has 600 hours TT 400 in an Arrow.

I don’t count, I cannot get a medical I am forbidden from sitting in the left seat by AVEMCO.

All of us are 20 plus year Dispatchers for NetJets.

I own a 1973 Arrow II 4400TT 50SMOH. Getting a bunch of Garmin stuff but max insurance value they say is $100,000. That is what I have. My yearly premium is $2200.

Am I paying too much?

planewrench

I"de say for the hull value and the non instrument rated pilots you are lucky to be paying that little. My hanger co owner, has a Amphib Searey, last year they quoted him 6k based on a 60k hull value. Mega hours ex freight driver. age 74. My take yours very reasonable.

griff390

I've been using Facer insurance in Rantoul, IL for a lot of years. I'm right around $1K/yr for fixed pitch and fixed gear with a $81K hull, and $1M liability.

The policy is underwritten by Old Republic aviation insurance. I have many good things to say about both Facer and Old Republic. Thankfully, I have not needed them much over the years, but when I did, they were great to work with, and very responsive.

Scott Sherer

I'm paying about $1,500/yr for my turbo arrow 3. Hull value about $150k. So my insurance is about 1 percent of my hull value.

jimcurns

I was with AOPA for at least a dozen years until they sold the insurance brokerage. Now I'm with Skysmith, the one who writes for this magazine. He is very good and I take time to speak with him each year in person at the Oshkosh show. Scott updates me on insurance trends and has great and meaningful stories to share. He's a wealth of knowledge and we are lucky to have him as a contributor to the information we receive.

To get a fair quote is only part of the puzzle. Learning what to ask so you will be getting quotes for years to come is the more important aspect. He taught me about that, and helped guide me into my "forever plane" taking my age and ratings into account. I don't know why I'd go anywhere else.

I have also learned that sharing quotes for similar aircraft doesn't really work. The plane is only part of the puzzle, and things about the pilot can vary greatly.

Unit74

https://piperowner.org/talk/discussion/comment/1439233#Comment_1439233

Age 74 is the problem for them.

griff390

Unit74 nailed it. Last time I spoke with my agent, he said a big part of our premiums are based strictly on our age.

Not much we can do about it, but it beats the alternative.

jacobsja

Age is not a new factor to insurability.

Talked with somebody whom got hit with restrictions on his light jet policy IIRC somewhere in his 70s (we last spoke ~10 years ago). Plenty of time-in-type when the limitation was put in place. Requirement was to fly with a 'qualified' pilot as defined by the insurer and was not allowed to fly solo. Insurance did allow him to solo again after a few years of no incidents with the additional pilots. Only disappointment I had over that insurance deal was that my day job was in the way of volunteering to get type rated and fly with him.

lwjky2020

AVEMCO $3,000 for a piper apache, hull $90,000

IFR,Commercial, CFI,ASMEL

Unit74

https://piperowner.org/talk/discussion/comment/1439297#Comment_1439297

I suggest you do some shopping. I’d turn my nose up at that quote if it were mine. I’m nowhere near your ratings, and my bird is substantially more valued and my rate is $500 less than yours.

brundridge

Wanted to jump in and thank everyone for responding!

Resq5hvy

Will changing ins companies increase my “risk rating” if I only stay with AVEMCO for a year?

brundridge

Thanks again for the info folks. I ended up reaching out to USAA who uses Falcon Insurance.

I tried calling skysmith (I'm in Des Moines), but they were fairly insistent that I use their online form and by the time I'd filled it out, they couldn't give me a quote since I'd already called and gotten a quote by another company over the phone.

So here's where I landed:

1966 Piper Cherokee 140

180HP Constant speed prop conversion

100K hull coverage

Student pilot

Age 37

$1925-AOPA discount= $1815

planewrench

Ya, seems high, but with student flying and a CS prop as well as the high hull,,, I'de say you are in a good spot at moment.

Carl

Digitalpilotnm

Paying 2600 for a 77 Turbo Arrow III with hull at $140K

I'm CP-AMEL/ASEL/ASES Instrument, 1900+ TT, 500+ in arrows and lots of other retract / complex time.

55 YO

BenPeterson77

An easy way to estimate or visualize the premium for a Piper Aircraft is: 1%, 1.5%, 2%, and 3%

-1% of the hull value for experienced pilots with a Private and Instrument, less than 70 years old, less than 3 named pilots, single owner, high hull value greater than $300,000

-1.5% of the hull value for experienced pilots over 70 years old, more than 2 fractional owners, more than 3 named pilots

-2% of the hull value for Private Pilots working on an Instrument, very low time Pilots buying an expensive new Piper

-3% of the hull value for Student Pilots working on a Private Pilot License, Commercial flight operations like flight schools

I hope this helps!

Ben Peterson

Sunset Aviation Insurance

561-210-0244

Scott Sherer

Thanks Ben! Much appreciated.