Insurance Quotes

lowNslow · Post by **lowNslow** » Tue Dec 20, 2005 7:06 pm

Well, it's time for me to renew my insurance and was wondering what kind of quotes others are getting. I have been using USAA (who uses AIG), but thought I would try one of our sponsors if possible.

Post by **GAHorn** » Tue Dec 20, 2005 7:11 pm

There's really no accurate way to get a quote other than let someone give one. Avemco won't quote your tail number and tie it up. Other agencies will, because they'll be holding the undewriters bid for your airframe's coverage. Each time you solicit another bid, you'll have to issue another letter of authority.
Also, if I insure my airplane for $50K hull with $1M liability, $100K per pax, and you insure yours for $50K with $1M liability, and $100K per person, then the quote will be different and difficult to compare. Same thing for other exclusions...such as Avemco's family exclusion. (You'll need to consider: Who is your most likely passenger? Are they likely to sue you if they get hurt? Will you be required to cover ALL... or only a PORTION of their medical expenses?)
Are you based on a grass-only airport? Some underwriters won't quote you at all, and therefore the agency may have to resort to more expensive coverage. Do you have a perfect flying record? And an instrument rating? I may not. So my quote may not be a comparison at all.
(But if all you're wanting is a real rough ballpark idea, My $59K hull and $1M liability, $100K per person coverage, with my ATP license, CFII rating and recent recurrent simulator 10% discount, 12K hours total time and 2K hours taildragger/800 make/model, with no bad flying record remarks is costing me almost $1200/year.) It's hangared on an airport with both paved and grass, with no penalty for grass. Don't recall the deductible, but I think it's $500 not in motion, and $1000 in motion.

ghostrider · Post by **ghostrider** » Tue Dec 20, 2005 7:27 pm

I insure my 170A with Travers & Assoc. (one of our sponsors) and I have way less time than George, my aircraft is parked outside and I pay only $1,408.00. So, like he said, it's all a matter of what you want for coverages.

lowNslow · Post by **lowNslow** » Tue Dec 20, 2005 8:10 pm

George, thanks. Who do you have your insurance with?

CraigH · Post by **CraigH** » Tue Dec 20, 2005 8:18 pm

gahorn wrote: (But if all you're wanting is a real rough ballpark idea, My $59K hull and $1M liability, $100K per person coverage, with my ATP license, CFII rating and recent recurrent simulator 10% discount, 12K hours total time and 2K hours taildragger/800 make/model, with no bad flying record remarks is costing me almost $1200/year.) It's hangared on an airport with both paved and grass, with no penalty for grass. Don't recall the deductible, but I think it's $500 not in motion, and $1000 in motion.

Similar here. $60K hull, $1M liability, $100K per person, private pilot, 10% safety discount, 700TT and 350 tailwheel, 0 make/model and claim free discount is running me right at $1400 per year. Hangared at a paved airport.

cessna170bdriver · Post by **cessna170bdriver** » Tue Dec 20, 2005 9:26 pm

Travers insures me for 45K hull, 1M liability, 100k/seat, hangared on paved airport for $957. The lower premium may be the lower hull value (they actually balked a bit when I raised it from 40 a couple of years ago). Could also be my 1400+ hrs in type? Instrument rating?

Miles

lowNslow · Post by **lowNslow** » Tue Dec 20, 2005 11:09 pm

Miles wrote:Travers insures me for 45K hull, 1M liability, 100k/seat, hangared on paved airport for $957. The lower premium may be the lower hull value (they actually balked a bit when I raised it from 40 a couple of years ago). Could also be my 1400+ hrs in type? Instrument rating?

Thanks All. Miles, your policy with Travers is cheaper then what I pay now and that's with just $35,000 hull.

LRF · Post by **LRF** » Tue Dec 20, 2005 11:24 pm

I actaully bought and insured my plane before getting my license this year - talk about accepting risk. I shopped around and the best coverage and rate was through AUA. I think they ask you to become an EAA member as part of the deal. I was impressed that they had no exclusion for landing at any site.

N2865C · Post by **N2865C** » Tue Dec 20, 2005 11:41 pm

My policy renewed in Oct. with AIG - hangared, 1,000,000, 100,000, 50,000 hull - $1240. I have dealt with Travers in the past and they have very good customer service. I think that Travers came in a few $ less, but the policy had an off airport exclusion, so I went with AIG.

cessna170bdriver · Post by **cessna170bdriver** » Tue Dec 20, 2005 11:57 pm

N2865C wrote:My policy renewed in Oct. with AIG - hangared, 1,000,000, 100,000, 50,000 hull is $1240. I have dealt with Travers in the past and they have very good customer service. I think that Travers came in a few $ less, but the policy had an off airport exclusion, so I went with AIG.

Maybe I missed something? I thought AIG was of out of business, and those who wanted to were transferred to Travers?

I thought Travers was the "official" insurer of TIC170A, offering discounts to members, but I see that Avemco advertises with us.

Miles

cessna170bdriver · Post by **cessna170bdriver** » Wed Dec 21, 2005 12:04 am

lowNslow wrote:Miles, your policy with Travers is cheaper then what I pay now and that's with just $35,000 hull.

I wonder if it could be Carmel vs. Mojave base? What is your tailwheel experience and time in type? I think I have about 1700 tailwheel time, and since my airplane has more than 1400 hours more on it than it did when I bought it, I assume that's my time in type.

Miles

N2865C · Post by **N2865C** » Wed Dec 21, 2005 12:21 am

cessna170bdriver wrote: Maybe I missed something? I thought AIG was of out of business, and those who wanted to were transferred to Travers? I thought Travers was the "official" insurer of TIC170A, offering discounts to members, but I see that Avemco advertises with us.

Miles

That was another AIG (different company). The AIG that Travers took over was an insurance broker that had great rates and was just wonderful to work with. Travers took it over after the sweet little ladies that ran it were charged with embezzling customers refunds and were put out of business as I recall. Just goes to show you , ya never know!!

Wed Dec 21, 2005 12:52 am

Travers is a broker who should get quotes from AIG. AIG is a big if not the biggest underwriter.

Avemco is an underwriter like AIG but they don't use agents such as Travers you talk to them direct.

Karl are you sure you with AIG and not USAIG. USAIG is a different company than AIG. Several years ago I left USAA because my coverage was changed from AIG to USAIG and the premium went up. When I inquired with USAA why this happened the agent told me that USAA made a deal with USAIG to be there exclusive agent. he said USAIG would even want to insure my tail dragger but had to as part of their agreement.

BTW for those who don't know USAA is basically an insurance broker and more for those that are serving or have served in the US Armed Forces.

I left USAA and called AUA who got me a cheaper quote back with AIG and all was well till about two months ago when it was time to renew. As it turns out AIG has halted ALL of their discounts of which I was receiving 30%.

So with a 30% increase in my insurance bill I decided it was time to shop around. I spoke to Travers and Avemco. What quotes I could get where all within $100 and even with the discounts the AIG quote from AUA was the cheapest by about $20.

The key if you don't know to shopping for insurance is to find a broker you like who you think will work for you to find the best quotes. Once a broker has an underwriter quote for your aircraft the underwriter will not issue another quote to any one else. For example once you have AUA get you quotes, Travers won't be able to get you any from the same underwriters. And I was told by Travers there are exact 6 underwriters that will insure a tail dragger. Avemco being the underwriter will only quote to you.

N2865C · Post by **N2865C** » Wed Dec 21, 2005 1:25 am

Bruce,

I checked again and I got my AIG policy from AUA. USAA, USAIG, AUA, AIG#1, AIG#2... You don't suppose they are trying to confuse us on purpose

I'd give extra points to Travers just for having a good name...........

lowNslow · Post by **lowNslow** » Wed Dec 21, 2005 1:37 am

Bruce, you are correct, I am currently with USAIG. I did not notice they switched underwriters but wondered why they went up almost $200. I went from $950 to $1150

Do you contact AUA directly or was this also thru a broker?