Don't miss anything! Register now for full access to the definitive RV support community.
As far as I can tell the $ benefit of the instrument rating and insurance is pretty much confined to low time pilots, e.g., for a -10, and a 150 hour VFR PP, some companies won't write insurance at all, but they would write it (but expensive) if the same guy had the instrument rating. For me, the biggest benefit was the confidence factor that I could take a weekend trip and be pretty sure of getting home. KLVK, especially in the winter, often has low stratus (600' ceiling) come in from the ocean, around 8 pm or so, and last until just after dawn. Without the rating, I wouldn't go away for the weekend, out of fear that I'd be stranded until Monday; but with the rating, it was a very easy ILS or LPV approach. BTW, the controlled airspace around LVK, plus the high terrain in all quadrants, made scud running a very poor choice.
Time in type is a big deal with insurance companies, until it's greater than 100 hrs. My guess is your "IFR" rate drop was actually due mostly to more time in type. Same for the commercial (going from less than 100 hrs to more than 100 hours seems to be a big deal to many insurers). I would venture to guess that virtually all of your projected premium decrease will be due to time in type, with zero for the commercial ticket.
Don’t they always say that?
My auto and homeowners insurance went went up 30% last year but airplane insurance only went up 20% so I sorta believe the agent on the airplane insurance. I did shop for different auto insurance but could only find same price or higher at other outfits.
What we have found is that insurance companies creep up over time, and then offer lower rates to new customers. Kinda the opposite of a loyalty program. So I change insurance companies every 3 years and find that it cuts my rate down 25% or so. Screw these predatory companies.
In my opinion EVERY pilot should be instrument rated. The awareness, abilities, decision making, EVERYTHING is so much better.
I can only share my experience -- 5% was the discount for having IR... or about $75 (actual dollars). I explicitly asked for this info way back when I was getting my IR.
Agreed - an insurance discount does not even belong on the balance sheet about whether or not you go get your IFR.
My insurance company (Global) doesn't even ask the question about continuing education.
Might want to ask them and shop around. Traverse was consistently best on price for me and would seemed to always remember to ask if I had any new ratings or wings credits to help get a discount but that was a decade ago when I sold the 8 so this could all be OBE.
Thanks for the input but my rates have been low enough to be completely acceptable, and I trust my broker. No desire to rock the boat.
The flight club I am in sure likes the Wings program but my personal plane under Global doesn't ask.
Yep, I was also surprised Global's highest certificate they care about is Commercial. Nothing for my CFI or CFII.
I've always assumed that your CFI time gets you a better quote via your reported hours, e.g. time in insured airplane = 50 hours, time in other airplanes = 60 hours. The insurance company knows you got 110 hours of experience and staying current while they only had to insure 50 of those hours. A good deal for them.
Ya that's a good point I never thought about Bob.
