Insurance rate shocker

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drseti
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Re: Insurance rate shocker

Postby drseti » Mon Apr 27, 2020 9:17 am

Be glad you're not in commercial service, Stan. Your premium would be five times that amount.
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3Dreaming
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Re: Insurance rate shocker

Postby 3Dreaming » Mon Apr 27, 2020 11:23 am

Aviation insurance companies were complaining about operating at a loss. At least 2 have left the marker because of that. Recent storms have hit some airport with fairly heavy losses. This all adds up to increased rates. My commercial insurance went up 15% for this year.

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Scooper
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Re: Insurance rate shocker

Postby Scooper » Mon Apr 27, 2020 11:43 am

drseti wrote:Be glad you're not in commercial service, Stan. Your premium would be five times that amount.

Paul, you're right of course; I should count my blessings.
3Dreaming wrote:Aviation insurance companies were complaining about operating at a loss. At least 2 have left the marker because of that. Recent storms have hit some airport with fairly heavy losses. This all adds up to increased rates. My commercial insurance went up 15% for this year.

I guess I shouldn't complain. As long as I can afford the premium I'll just continue to pay.
Stan Cooper (K4DRD)
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Re: Insurance rate shocker

Postby 3Dreaming » Mon Apr 27, 2020 12:30 pm

Scooper wrote:I guess I shouldn't complain. As long as I can afford the premium I'll just continue to pay.


I'm pretty sure my increase was more than your new annual premium.

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drseti
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Re: Insurance rate shocker

Postby drseti » Mon Apr 27, 2020 1:22 pm

3Dreaming wrote:I'm pretty sure my increase was more than your new annual premium.


Yep, mine certainly was.
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
Prof H Paul Shuch
PhD CFII DPE LSRM-A/GL/WS/PPC iRMT
AvSport LLC, KLHV
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AvSport.org
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foresterpoole
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Re: Insurance rate shocker

Postby foresterpoole » Tue Apr 28, 2020 4:38 pm

I was talking with a few pilots on Facebook. In the past few months three airports in this area suffered losses from tornadoes: Pineville, Monroe, and now Bunkie is a total loss. They are expecting insurance for this area to skyrocket because of this. I'm not due for a while, I guess we shall see....
Ed

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Re: Insurance rate shocker

Postby MrMorden » Tue May 05, 2020 7:11 am

drseti wrote:
3Dreaming wrote:I'm pretty sure my increase was more than your new annual premium.


Yep, mine certainly was.


But it's a little different when your airplane *makes* money, instead of just burning it. :D
Andy Walker
Athens, GA
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drseti
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Re: Insurance rate shocker

Postby drseti » Tue May 05, 2020 7:22 am

MrMorden wrote:
But it's a little different when your airplane *makes* money, instead of just burning it. :D


Believe me, Andy, it hasn't been making money these past two months!
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
Prof H Paul Shuch
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AvSport LLC, KLHV
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AvSport.org
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3Dreaming
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Re: Insurance rate shocker

Postby 3Dreaming » Tue May 05, 2020 9:05 am

drseti wrote:
MrMorden wrote:
But it's a little different when your airplane *makes* money, instead of just burning it. :D


Believe me, Andy, it hasn't been making money these past two months!


My insurance agent called and offered to put mine on non flying status. I thought I would be flying with my older son some, but he has been to busy with school work. It has rented a few times though. Certainly not making enough money to pay the insurance.

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Warmi
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Re: Insurance rate shocker

Postby Warmi » Thu May 28, 2020 4:38 pm

Just got my quote for this year from Greg at Aviation Insurance Resources.

We are pleased to present the attached quotation of $1,760 from your current carrier. Other quotes came in at $2,522 to $4,144.

Last year I paid $1704 so it is about $56 more - not to bad imho (97k hull )
Flying Sting S4 ( N184WA ) out of Illinois

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Re: Insurance rate shocker

Postby drseti » Thu May 28, 2020 5:43 pm

Who is your carrier, Warmi?
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
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Warmi
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Re: Insurance rate shocker

Postby Warmi » Thu May 28, 2020 5:58 pm

drseti wrote:Who is your carrier, Warmi?

USAIG
Flying Sting S4 ( N184WA ) out of Illinois

Nomore767
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Re: Insurance rate shocker

Postby Nomore767 » Sun May 31, 2020 4:14 pm

FYI
I just got my quote through AOPA for my 2014 RV-12 SLSA . Full coverage including $126k replacement (price new) for $989, up from $805 each of last two years.

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drseti
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Re: Insurance rate shocker

Postby drseti » Sun May 31, 2020 5:11 pm

That looks like a 23% increase, which is about what other folks are seeing.
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
Prof H Paul Shuch
PhD CFII DPE LSRM-A/GL/WS/PPC iRMT
AvSport LLC, KLHV
fly@AvSport.org
AvSport.org
facebook.com/SportFlying
SportPilotExaminer.US

Sling 2 Pilot
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Re: Insurance rate shocker

Postby Sling 2 Pilot » Mon Jun 22, 2020 3:47 pm

AVEMCO, raised only my hull insurance by $35. Liability remains the same. I had expected it to be more , based on what has been posted by AOPA and other forums.


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