Insurance

[Ndege]

Good day,

I am trying to get insurance coverage for a planned trip to Europe this summer. The quote I got was $43,000 for the year including the N. Atlantic and Europe. This seems outrageous as I have been paying $13,000 a year for the Americas, this company does not want to cover the trip.  You would think that the US with its rampant suing mentality and huge awards would be the most expensive.
Anyway, I would be happy if you could advise who you use and at what cost. If you want to send directly my email is:
twoflyers@outlook.com.
If this is going to be the way of insurance charges, it will be the death of general aviation.
Thanks and regards,
Peter Fraser
N383HC

[donv]

Who is your underwriter?

[Bruce Byerly]

Peter - let me know if you got my email let us know how it goes. I have additional contacts but it sounds like an agent problem. Not that anything aviation related in Europe  is reasonable.

[JimC]

What numbers are people seeing for insurance on the piston twins?

I'm having trouble getting a reasonable rate. I got quoted $7,000 for a $200k airframe. I have a commercial certificate with almost 2,000 hrs multi. Several underwriters declined due to aircraft age.

[Bruce Byerly]

Insurance market is difficult at best for any plane.

Now is the time when a good agent makes it work but the previous low bidder gets you cancelled.

$9k for $2MM smooth and $450k hull value on a Shrike.
Double that plus $1000 for $25MM and double the hull value on an 840.  That’s with fleet discounts and 7,000 hours in various AC’s so hard to compare. .

[Adam Frisch]

Just did liability for a mill smooth with Avemco right now and it was only $1050/year, which I thought was pretty cheap.

Don't want to bother with hull insurance now when things are this crazy. Prices will come down eventually.

[donv]

I'm doing my renewal now-- will be interesting!

[donv]

Mine just came in at $16k, which I think is about a 10% increase over last year. That gets me $5 million in liability, plus hull (admittedly, I am probably a bit under-insured on hull given where current market values seem to be).

[JimC]

I can't get Commanders out of my head, and I'm shopping for an 840-10 or 980.

Who are you guys using for insurance? I haven't had a great experience with my broker or carrier and the King Air. My carrier tripled (not a typo) my premium from last year to this year even as my experience went up and I remained claim-free. A lot (but not all) of the increase was a forced minimum hull value that I don't agree with.

I have 2,000+ multi pressurized hours and 450+ turbine hours. I'm looking for a broker that does a good job specifically with turbo Commanders.

[donv]

Brent Anderson at Chappell Smith.

banderson@chappellsmith.com

Has done very well for me. It's all W. Brown on the back end.

[JimC]

My costs for insurance have gone up almost every year I've owned twin engine aircraft. I've always been told it's expensive because it's my first year when I start a new plane, but I've never seen a significant decline in year two. For my third year, I was gifted with a higher rate on the hull as well as an increase in deductible.

I have W. Brown but I'm paying much more than $16k. I have $3M and my hull is valued at $1.5M

[donv]

I would talk to Brent. It is amazing the difference a good agent can make.

[schrambow]

Just chiming in for renewal this fall again to share for all.  So in 10 years from now, i can come in here and look back to see how cheap insurance was.
11.7% increase this year from last,  840-5,  750K hull, 2M liability, Physical damage= 16.8K, Liability (2m)= 6.5K, Total premium of 23.5K this year.  W. Brown & Associates. 
I hope I am not breaking any FAR's posting this information for all in public here, or insurance regulation agencies, if i am, i hope someone here would tell and yell at me to stop.

[donv]

Mine was a bit less than that, around $17k.

[Popeye]

At least they quote it.....I have not been able to find covergae even for liability for my AC-680F.  Anyone??