Who do you use for insurance? Ours just doubled

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ememic99
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Re: Who do you use for insurance? Ours just doubled

Post by ememic99 »

It jumped up for 1k€ after Boeing 737 Max stuff. And on average it’s always higher in Croatia than in Germany - you know we’re rich :D
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dgger
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Re: Who do you use for insurance? Ours just doubled

Post by dgger »

ememic99 wrote: Thu Apr 16, 2020 9:42 pm It jumped up for 1k€ after Boeing 737 Max stuff. And on average it’s always higher in Croatia than in Germany - you know we’re rich :D
Must be the Bora damage recovery fee and scenic view surcharge ;)
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MackAttack
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Re: Who do you use for insurance? Ours just doubled

Post by MackAttack »

In the US, if you've already gotten a quote from one broker, you won't be able to get a different quote from anyone else on you and your aircraft without changing your "broker of record." And that includes AOPA, but doesn't include Avemco, which does their own insurance. There are several very good brokers out there. I have used Ryan Konrath at Wings Insurance for several years; he just got me a REDUCTION in premium on my Piper turboprop, which is pretty amazing in this market to be honest.

rkonrath@wingsinsurance.com
Direct: 952.641.3152 Mobile: 651.253.3844

But you'll need to sign a new broker of record form and possibly wait some period of time before they can get new quotes from the various markets. It's a messed up system but getting a better quote isn't as simple as just calling a new broker.

Good luck!
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ultraturtle
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Re: Who do you use for insurance? Ours just doubled

Post by ultraturtle »

If you have USAA insurance for other stuff, they have associated brokers that will find you rates significantly below what AOPA and AVEMCO can quote (at least for Diamond twins). Best part is that your USAA umbrella policy will encompass your aircraft policy.
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Re: Who do you use for insurance? Ours just doubled

Post by CFIDave »

A Dopo wrote: Thu Apr 16, 2020 2:36 pm So thanks all for the recomendations! I thought I would post this screen shot to give you an idea as to what we are getting. One broker said it is the uptick in accidents and the 737 Max is tricking down to GA. So we might all be in for a rate increase. For comparison sake 40 hours in type, 560 total time non IFR but working on it. No accidents or anything detrimental.
The reason you’re getting such high quotes is lack of “time in type.” The good news is that your rates should decrease once you have 100 hours in your DA40.
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NDCDA62
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Re: Who do you use for insurance? Ours just doubled

Post by NDCDA62 »

This article perhaps bests explains the reasons for the increased insurance premiums:

https://www.aopa.org/news-and-media/all ... 00-percent
airbrett_

Re: Who do you use for insurance? Ours just doubled

Post by airbrett_ »

I recently sold my share of a Bonanza but we had good luck with True Course Aviation in Camarillo, CA. They were able to find an underwriter that was much cheaper than AOPA's.
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Boatguy
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Re: Who do you use for insurance? Ours just doubled

Post by Boatguy »

I use Avquest and my premium from IAT went up 15%.
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Re: Who do you use for insurance? Ours just doubled

Post by CFIDave »

In responding, please make sure you specify the underwriter for your insurance, rather than the broker you worked with who sold you the policy. There are only about a dozen underwriters that issue policies for GA aircraft, so it would be useful to learn which ones offer the best rates for Diamonds -- so we can ask our brokers if they contacted those underwriters.
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jb642DA
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Re: Who do you use for insurance? Ours just doubled

Post by jb642DA »

For our 2018 DA62 -

I was just quoted $12,610 by Old Republic Aerospace for $1,200,000 hull and $1,000,000/100,000 liablility. No training requirements.
Open pilot warranty minimums of Private, Commercial or ATP certificate, Instrument rating and at least 1500 Total time, 250 multi AND at least 50 hours in make and model!!!

If I want $1,000,000 "smooth" liability through Old Republic, the premium goes to $13,361.
"Smooth" also adds the following minimum "training requirements" -
Within every 12 months all pilots must receive "dual instruction with a CFI, rated for multi engine and instrument instruction, in the Make and Model ....... training for "multi engine operations review to include an instrument proficiency check per FAR 61.57."
Also, open pilot warranty numbers went to 500 multi and at least 100 hours in Make and Model.

London Aviation Underwriters quoted $13,501 for $1,200,000 hull and $1,000,000 smooth liability with no additional training requirements.

I requested a quote through AOPA (I think the underwriter is Assured Partners?) - $1,200,000 hull and $1,000,000 smooth - the quote was OVER $20,000!! I also called twice, after receiving the emailed quote, to talk with the "agent" to ask why it was soooo high - NEVER got a call back!! Absolutely no follow-up, either through email or phone!
I've already deleted the quote so I can't give any more specifics - needless to say, the AOPA "deal" SHOCKED ME!!

For insurance quote purposes - my background is ATP/CFII/MEI and 20,000+ hours. Also, none of the insurers wanted to quote above a $1,200,000 hull value for our 2018 DA62.

Hope these numbers help - looks like at least a 15% increase from last year - more like a 20% increase from last year's premium when I consider the Hull was insured at 1,300,000 versus 1,200,000 this year!
Looking!
1980 414A - N2691Y (sold)
DA62 - N100DA 62.078 (sold)
DA42TDi - N742SA 42.AC112 (sold)
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