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I was quoted $5,200 per year for insurance, what are you paying?

moespeeds

Well Known Member
Friend
I'm a low time (150 hrs) pilot with a few dozen hours of TW. I took a 20 year break from flying, but I'm back out there getting current, and looking at RV8s. If something nice comes across my screen, I'm ready to buy, so I went out and got some insurance quotes.

I'm 47 years old, healthy, no aviation accidents or dui, live in NJ.

On the condition that I purchase an airplane, and let it sit until I'm current and have 10 hrs dual in type, the cheapest I've found so far is $5200/yr. What's everyone else paying?

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?
 
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I'm a low time (150 hrs) pilot with a few dozen hours of TW. I took a 20 year break from flying, but I'm back out there getting current, and looking at RV8s. If something nice comes across my screen, I'm ready to buy, so I went out and got some insurance quotes.

On the condition that I purchase an airplane, and let it sit until I'm current and have 10 hrs dual in type, the cheapest I've found so far is $5200/yr. What's everyone else paying?

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?

I do not mean to be indelicate, but is your age a factor?
 
$2000

Through Assured Partners for the first year with 100hrs TT and 0 time in make/model. $70k hull value. I'm going to check out Gallagher when I'm up for renewal plus now having my IR and more than 25 hours in type should help.
 
Location is 'West Berlin". Is that Berlin, Germany? That could have something to do with the insurance rates.
 
...and

Those premiums have a lot to do with AGE, experience, currency, and hull value. It is difficult to make any comparison without that info...

That said, insurance on my -10 is $2300, 200k hull, 25,000+ hours, 5 in type, and age 57.

I was able to add my son, who is 21 and has 300 hours, for an additional $600...:D

Quoting my Dad, who is 78 with 42,000+ hours and an active instructor, well, only one place would even quote it and it was going to be $6600...:mad:
 
10 hours in RV, I'm assuming this was Avemco? They are usually expensive. Give Gallagher a call.
 
just a benchmark to compare:

I'm 64, 750 hrs tailwheel, 900 SEL, 1900 glider.

My RV-8, stated hull value $90K, is $1300/yr through Costello Associates in AZ.
 
50 years old, 1600 hours with 850 in my RV9A since 2016, instrument rated 2018, $100k hull value, $1161/yr. with Old Republic through Gallagher
 
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60 years old, 2000 hours with 1000 TW (RV7), 90K hull coverage, $1200 AIG through AOPA. Last year I paid $1000 through the same company.
 
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I'm a low time (150 hrs) pilot with a few dozen hours of TW. I took a 20 year break from flying, but I'm back out there getting current, and looking at RV8s. If something nice comes across my screen, I'm ready to buy, so I went out and got some insurance quotes.

On the condition that I purchase an airplane, and let it sit until I'm current and have 10 hrs dual in type, the cheapest I've found so far is $5200/yr. What's everyone else paying?

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?

Have you called Falcon Insurance? I got some crazy quotes and was ready to back out of buying my plane, but then I found Falcon.. $1269.00 for a year.
 
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When you get a quote from a broker, they call all the insurance companies. One call and you're done, basically -- no point in calling around.

Ed
 
Insured hull value will drive up the price -- $90K hull ~ $1000, $180K hull ~ $2000, and so on.

You might want to just pursue liability coverage only until you build more time, then add on the hull coverage. The downside of this is, of course, if you break the airplane there's no insurance pay day and you'll need to fix/replace it out of pocket.
 
One year, Avemco was high. Next year they were lower. I used them for the liability only Aerostar. I use Global for the RV. It’s liability only too. I stopped doing full coverage. Cost too much and if you file a claim, you are marked for 3 yes.

Man....for me, Avemco was not even in the game. They were ridiculous.
 
When you get a quote from a broker, they call all the insurance companies. One call and you're done, basically -- no point in calling around.

Ed

Wasn't my experience.. Some brokers don't price certain carriers.. I called three different carriers and got different quotes from all three..
 
I'm a low time (150 hrs) pilot with a few dozen hours of TW. I took a 20 year break from flying, but I'm back out there getting current, and looking at RV8s. If something nice comes across my screen, I'm ready to buy, so I went out and got some insurance quotes.

I'm 47 years old, healthy, no aviation accidents or dui, live in NJ.

On the condition that I purchase an airplane, and let it sit until I'm current and have 10 hrs dual in type, the cheapest I've found so far is $5200/yr. What's everyone else paying?

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?

Instrument rating makes up for low time - I've heard that insurers cut a lot off the rate for instrument ratings. If it saves you a few thousand a year, it will pay for itself quickly. And will make you a much safer pilot.
 
I'm a low time (150 hrs)...

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?

The current market is tough, and basically, yes, low time (both total and in-type) pilots are seeing very high quotes.

As to quotes, in principle, it should be sufficient to ask one broker, plus Avemco (who does not use independent brokers), for quotes.
If you get vastly different quotes call the broker and ask why. Some insurance companies will only quote to one broker. Some brokers may think it’s best to avoid certain companies (e.g., a few years ago posters were raving about low quotes from company X. I called my broker (Gallagher) and asked why they hadn’t solicited a bid from X. They said X didn’t meet their financial standards. 6 months later, X went out of business.) You pay a broker for service. If you have questions, call them. That’s their job.
 
Time is a big factor. I was paying a bit more than $900 for the 6A. 1000 hours with 700 in the 6 and IR. I added my son for his PPL training. Full coverage quote was $4500. Decided to go liability only for $1500.

What I learned is that most in the experimental market want 200 total hours minimum. There is only one carrier that will quote experimental insurance for pilots with less than that and they charge accordingly. I should say only one that meets Gallagher's financial standards, which I wouldn't want to wander outside of. Even Avemco won't quote experimental insurance with student pilots.

Larry
 
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One year, Avemco was high. Next year they were lower. I used them for the liability only Aerostar. I use Global for the RV. It’s liability only too. I stopped doing full coverage. Cost too much and if you file a claim, you are marked for 3 yes.

Global Aerospace still has me as Persona Non Grata after "The Great Flood of 2015"...
 
I'm a low time (150 hrs) pilot with a few dozen hours of TW. I took a 20 year break from flying, but I'm back out there getting current, and looking at RV8s. If something nice comes across my screen, I'm ready to buy, so I went out and got some insurance quotes.

I'm 47 years old, healthy, no aviation accidents or dui, live in NJ.

On the condition that I purchase an airplane, and let it sit until I'm current and have 10 hrs dual in type, the cheapest I've found so far is $5200/yr. What's everyone else paying?

I expected to get raped because I'm low time and out of currency, but I didn't expect it to be this bad. Any advice?

Pilot since 1989. 56 years old. ~550 hours total time. ~450 hours tail wheel.

$110k insured value, $1394 through Gallagher (contact Leah). Policy is with Global Aerospace.

I started in a tailwheel in 1989, but also took a long break while moving around the country, traveling the world and raising a family. I spent around 50 hours renting a citabria before buying my -8 4 years ago. My insurance costs have always been in the $1200-1400 range. Call Leah at Gallagher. I also got good prices from bwi. Your quote is too high. Keep calling around.
 
I'm relatively low time (220 hours) with IR before I bought my 6A. I tried both Gallagher and BWI for insurance quotes. They both contacted the same underwrites with the same coverage (as indicated on the quote), however the price on the BWI quote was about $100 cheaper ($1400 with $95k hull). Needless to say I went with BWI.
 
I'm relatively low time (220 hours) with IR before I bought my 6A. I tried both Gallagher and BWI for insurance quotes. They both contacted the same underwrites with the same coverage (as indicated on the quote), however the price on the BWI quote was about $100 cheaper ($1400 with $95k hull). Needless to say I went with BWI.

My experience was exactly the opposite...BWI vs Gallagher. The quotes from AIG were about $100 apart, but Gallagher was the cheaper one, plus it included an open pilot warranty and a waiver of subrogation. Additionally, Leah Ringheisen answered her phone or email more promptly than the agent at BWI.

I'm not sure there is always a rhyme or reason to some of these insurance quotes. I have the impression that it might be based on how the underwriter is feeling on that particular day.
 
44, 8900TT, 600ish tailwheel, ATP.

RV-4, at $50k hull it was $792 a year. I bumped it to $70k hull @ $902.

For reference, last year I paid $906 for the $50k coverage.
 
I'm 62, 1250 hrs TT, CFI. RV9A, 80K hull, with Traverse Aviation Ins. $1098.00.

I have 2 other airplanes with Traverse, C-150 and a 172.

The Rans S6S is with Gallagher, 35K hull, it's $945.00
 
Insurance

I am 71, 13500TT, ATP, 118TT RV6, 0 TT RV6A, Hull 65K purchased coverage from Falcon Insurance $1153.00 for RV6A WITH Open pilot clause .



Exempt 2021 dues paid
 
RV-7A : $12,000 Hull Value : Standard Limits

I am the low time pilot, 50 years old PP-SEL with about 500 Hours TT, 50 of which are in type. There are two other named pilot pilots on the policy, both instrument rated, with substantially more total time but less ib type. One of the others is an ATP.

We just picked up a policy with Old Republic for $1,320 for the year. Our open pilot clause requires 25 hours in type, but nobody will fly this airplane without being named, as far as I am concerned.
 
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$981 total premium ($121 liability 1M/100k, $860 damage for $130k valuation
48 years old. Commercial, IFR, 1700 hours, 150 hours in type.
Global Aerospace is providing the coverage, and Falcon is my broker

The premium went down about $200 from when I had only 3 hours in type last year. The premium is less than half of what I used to pay for an A36 Bonanza with the same valuation but 6 seats and retractable gear.
 
Just had the largest jump in my liability insurance cost that I have seen in the last 24 years. Starting in July the new policy will be $299 with coverage from July 2021 to July 2022.

I am 64, commercial pilot, Instrument Rated, over 3,000 hours tailwheel, and over 3,000 hours in RVs.
 
I just renewed and was pleasantly surprised at the new lower rate considering I received an email last month telling me to expect a higher premium for the upcoming year.
Anyway, I'm 68 with 2200 hours and 925 in my RV-9A with $75K on the hull and $1M liability. All that for $893 with Global through Falcon.
 
Location, location, location

Another big factor in insurance premiums is the location of your aircraft. Two years ago I moved my RV8 from the local airport to our private grass strip. Premiums increased from $1320 to $1870 and after calling Gallagher the reasons stated were an increase in premiums in 2020 and the location of my aircraft.
I’m 57, ATP, 25k plus total time, 510 TW, 470 in type, $120k hull, standard liability coverage, Gallagher Ins.
 
For me, not owning a plane yet, but for an RV4. Two quotes:

- $2800 assuming 25 hours tailwheel experience, 10 dual in RVs, about 150 total hours in ASEL.
- $9500 assuming less than 25 hours tailwheel experience. But, need 15 dual in RVs + another 10 solo.

I'd pretty obviously be nuts to go with the second quote, since by the time I got the 15 + 10 I'd have 25 tailwheel even if I started with 0.
 
Hearing all these horror stories and man I feel lucky. I just got my quote and it went down by $75.00. I am 65, Commercial, MEL/SEL Instrument with just over 3,000hrs. My airplane currently has 1,495hrs and I am carrying $85,000 in coverage plus the regular liability.

:cool:
 
I have always used Sky Smith for my quotes and i’m a happy 72 year old Rv6A builder and owner. The premium went down this year. Marty
 
2400

56 YO
haven't been current since '97
155 hours total, zero in type
Needed 2 hours instruction in type before solo
an an additional 2 solo before carrying passengers
$115 hull value
$2400/yr with Falcon
 
I just got a quote from Global Aero for Falcon Insurance. RV8, 100K hull value and the rates are $1193 a year. I'm 56 with about 1200 hours and 700 hours in an RV6.
 
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