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Insurance Renewal

Scott Hersha

Well Known Member
I just got a phone call from my insurance broker - D.R. Cox & Co. She called me to let me know that my policy is one of the few that actually declined in cost this year. It went from $922 down to $817 on my RV4. That’s with $50K hull, $1,000,000 liability. Underwriter is Global Aerospace. Good news that I wasn’t expecting.
I’m building an RV6 that is pretty far along, so I’ll be starting a non-flying policy on that kit soon and probably putting the -4 up for sale in the next couple months, so the new policy won’t last too long, but I’m very happy about the reduction. Thank you DR Cox!
 
I just got a phone call from my insurance broker - D.R. Cox & Co. She called me to let me know that my policy is one of the few that actually declined in cost this year. It went from $922 down to $817 on my RV4.

Wow, one of the few indeed.
 
Same experience as Scott when I renewed my RV6 insurance in the beginning of June. Almost the same exact numbers. Also Global Aerospace through the same broker I have been using for 35 years. The broker commented it was one of the few drops she had seen in a while.
 
As we all know there have been a lot of posts about insurance and many about large increases. Some about issues with older pilots. I just had two people ask me to give them instruction recently and I filled out the forms for their company. I am not bragging just giving the facts. I have all the ratings, 400 hours in an RV-12 in the last 3 1/2 years, which is what I think is the relevant fact. But I am 73 years old and I fly under Sport Pilot rules. One company added me to the policy with no comments and the other denied adding me to the policy because I am over 70. So I am throwing out a wild idea.

What if the RV community banded together and only insured our airplanes with companies that will insured us when we get older? The brokers would need to not only give the quotes with price, but advise us of the companies policies about older pilots. What good does it do us if we save a few hundred dollars a year and then at 70 the company stops insuring us? It is like feeding a dog that we know will bite us in the future.

I own two experimental airplanes, an RV-12 and a Onex and both are insured with one company. While both policies cost more than I want to pay, they are not unreasonable and there has been no issue of my age or the fact that I fly under Sport Pilot rules.

So my idea is as an RV community we ban together and support the companies that want to and will support us as pilots when we get older. I would really like to hear from the brokers who are on this forum as to the feasibility of this idea? What do you think?
 
I'm not a broker but I suspect the insurance industry is much too fluid to predict with any accuracy what qualifiers carriers will request in the years to come.
 
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