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Thread: Insurance renewal time....good news

  1. #81
    Gilbert Pierce's Avatar
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    Default Re: Insurance renewal time....good news

    I dropped Avemco seven or eight years ago because they were 20%+ above a brokers quote. This December I was back with them. A 2018 increase and another quoted increase for 2019 made Avemco look good again.

  2. #82
    Jim Hann's Avatar
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    Default Re: Insurance renewal time....good news

    Second year with Old Republic, just received the binder for this year. My rates dropped almost $400, my broker was surprised. That’s about a 30% decrease. Million smooth and $35k hull. Didn’t even do a time update!


    Sent from my iPad using Tapatalk

  3. #83
    Administrator Steve Pierce's Avatar
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    Default Re: Insurance renewal time....good news

    Mine stayed the same but Dana told me there had been quite a few claims last year due to huricanes etc and several companies got out of the aviation market.

  4. #84
    smcnutt's Avatar
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    Default Re: Insurance renewal time....good news

    Just got our final numbers and ouch. My nephew was on our policy for the last two years but as he's heading to med school and won't have time for flying we decided to drop him and save some money. When we originally added him we had a pretty major increase as expected for adding a very low time pilot. Now we are back to only my brother and I listed on the policy (same as 2016 and before) but it certainly didn't drop back near where it was.

    2014... 2 pilots ........................$551
    2015... 2 pilots ........................$629
    2016... 2 pilots ........................$629
    2017... 3 pilots (one low time) $988
    2018... 3 pilots (one low time) $990
    2019... 2 pilots ........................$1,065

    Granted the current quote is about $300 cheaper than when they quoted this year having all 3 of us on the policy but still SIGNIFICANTLY more than what it was back in 2016 and nearly double what it was 5 years ago. Since 2015 our broker has had us with U.S. Specialty Insurance.

    I'm wondering if me switching to Basic Med instead of a 3rd class medical might of had an effect. Unfortunately we're up against our renewal for this year so we will be writing the check. However, I will certainly be looking hard come the first of the year before our next renewal.


    “Common sense is in spite of, not the result of, education.”
    ― Victor Hugo

  5. #85
    smcnutt's Avatar
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    Default Re: Insurance renewal time....good news

    Ok, a little follow-up on my own post. We had asked for a hull value increase from $30k to $40k and originally I thought that was only an $18/annual increase. I was wrong (I can't read) and that was actually a $218/ annual increase. So that explains part of the increase.

    Secondly, they said the medical has no impact as ANY valid FAA medical is fine for them. So that's not a factor.

    All that said, it's still a $200+ increase over my 2016 rate even after backing out the hull value increase.
    “Common sense is in spite of, not the result of, education.”
    ― Victor Hugo

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