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Insurance Shock

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yankee-flyer

Well Known Member
Started checking for insurance. My current company, which has really excellent rates on my Grumman AA-1, wants $2100.00 per year AND thay won't touch the -12 until I have 5 hours dual (lots of LUCK on that!!) and 5 hours solo in the -12. I hope some of you who are already flying can point me towards a company that's much more reasonable on all counts.

THANKS

Wayne 120241
 
What's the hull value of your Grumman vs the approximate value of a -12 ? Is your current premium in about the same ratio vs the new $2100 rate? I currently own a '80 C-152 insured for $25K. My current rate with AOPA/AIG is around $520. A -12 is probably worth $100K-$120K. It wouldn't surprise me if they want $2000-$2500 to insure it.
 
Check with the EAA. Mine was about $1800 for $60K. With zero hours in the RV-12, 10 hours total the previous 25 years. Had 200 hours from 1970-1985.
 
Not sure how to compare correctly !

Like Marty, I insured for $60k. I have over 2,000 hours logged. I am at $1500 for that much.

John Bender
 
A member in our Cessna Club used to be an aviation insurance agent. He told us the major factors that decide the premium is the hull value and whether or not the plane is hangared. A hangared plane is at less risk with storms, wind, hails, theft, vandalism, etc. The remaining factors are pilot's experience, time in type, where the airplane is base (towered vs non-towered, hard-surface runways vs grass strips), etc.
 
GLobal thru the EAA - $1650 for $75K - 1700 vfr hours with 315 in make/model.
Soapbox time:
It's too bad the insurance companies (both of them) don't put a higher $ value on the FAA Wings program, CAP mountain flying and takeoff & landing clinics, AOPA refreshers, etc.
 
It seems like...

Steve said:
....
Soapbox time:
It's too bad the insurance companies (both of them) don't put a higher $ value on the FAA Wings program, CAP mountain flying and takeoff & landing clinics, AOPA refreshers, etc.
Click to expand...

...Avemco is starting to do this according to the advertising I got in the mail yesterday. Credit for ASF and Wings courses.

From their web site -

Up to 10% annual premium credit through Avemco's Safety Rewards Program.
 
happy customer

Jenny at NationAir is great, and the rates are very good in comparison to all the others.

Rv-8A, RKD
 
Liability

Your big issue of course is liability (even if it does have Van's name on it). You may want to consider liability only...the expensive part of insurance is hull. If you damage it, you'll probably want to fix it yourself anyway. But that costs money too. Just a thought if you're tapped out.
 
Avemco is still too high

az_gila said:
...Avemco is starting to do this according to the advertising I got in the mail yesterday. Credit for ASF and Wings courses.

From their web site -

Up to 10% annual premium credit through Avemco's Safety Rewards Program.
Click to expand...

Yes but they are over 10% higher than the insurance I get through NationAir, so that's not saving you anything.
 
I would say that cost is about right...depending on what hull you have on it. Remember you are also insuring an aircraft with no history behind it yet....

Avemco always seems to be way high!!!




H_Pham said:
A -12 is probably worth $100K-$120K.
Click to expand...

Maybe to someone but I would not count on that for the masses....Something tells me the days of hyperinflated experimental prices are over, at least for the time being.
 
Last edited:
yankee-flyer said:
Started checking for insurance. My current company, which has really excellent rates on my Grumman AA-1, wants $2100.00 per year AND thay won't touch the -12 until I have 5 hours dual (lots of LUCK on that!!) and 5 hours solo in the -12. I hope some of you who are already flying can point me towards a company that's much more reasonable on all counts.

THANKS

Wayne 120241
Click to expand...

Yeah, I got the same type of ridiculous feedback before my first flight. Friend using Travers told me to call Travers so I did and everything ended happily. The company that I had my builders insurance with wanted over $2K and wouldn't pick me up until after so many hours were on the plane! My first flight was at my own risk. Thanks a lot for nothing. You have to be kidding me! I ended up getting first flight coverage for something like $1600.

http://www.traversaviation.com/
 
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