Replies to This Discussion

Permalink Reply by John Austin on August 26, 2012 at 10:03pm

I used my long-time insurance broker, Corrie Thompson, at Coley-Christian Aviation Insurance in Memphis - she placed me with Chartis (I think that's who Falcon/EAA uses???) I've got about 2500 hrs and an instrument rating - the last 1500 hrs mostly in a Cessna 206. I requested 1 million liability and $55,000 hull. Under construction/not in motion was $675. "Full flight" when I was ready to start flying it was $1077/yr. The underwriter told Corrie I had to have "5 hrs in a STOL CH750", but it didn't have to be instruction/dual. Interestingly (and after I already flew the required 5 hrs off), when I got the policy, it didn't mention a single thing about prior flight experience in a 750 being required! Of course, one would be ill-advised not to get a little transition time prior to first flight!

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Permalink Reply by Dr. Edward L. Olds III on August 27, 2012 at 10:50am

Ken,

That was hull and liability.

Ed

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Permalink Reply by Ken Ryan on August 27, 2012 at 12:23pm

Thanks Ed. I figured that out (I need to read more carefully).

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Permalink Reply by Jimmy Young on August 27, 2012 at 5:52am

Ed,

$1800/yr for $55K hull and 1 million liability thru Falcon for me. They required 3 hrs. dual prior to 1st flight. I have approx. 450 total VFR hrs since 2007, all LSA experimental. I'm hoping it will come down substantially on next year's quote, but I'm glad I've got it. 

-Jimmy Y

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Permalink Reply by Dr. Edward L. Olds III on August 27, 2012 at 10:52am

Jimmy,

Geez, $1800 for you and $1400 for me???  Looking at John's price, it seems that every 300 or so hours knocks off $400!

Ed

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Permalink Reply by Bob Pustell on August 27, 2012 at 10:26pm

I am sure there is a point of diminishing returns on that one, Ed. I have about 25,000 hours and over 25 in type (CH 601XLB) but I doubt they will pay me to take their insurance when my bird is ready to fly. :) For my 1947 Stinson 108-2, I pay $900 or so for a million liablility and 32 grand hull. The policy includes coverage when I fly other planes, as well. That is fortunate because I do some test flying for less experienced friends from time to time.

 

Bob

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Permalink Reply by Dr. Edward L. Olds III on August 28, 2012 at 9:11am

Bob,

Thanks for the comment.  I love those Stinsons!  I am going to do some shopping, I also plan to call AOPA, who I don't believe insures experimentals, but takes my membership money.

Ed

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Permalink Reply by Bob McDonald on August 27, 2012 at 7:17am

Doc

Insurance varies greatly between suppliers. The 1st year will probably be quoted higher as that is when problems occur in homebuilts. Presently that is what I pay for my CH750 on amphibs.... last year the quote was $2,200 without the floats (took $1.200 quote no inflight). I never insured in-flight on any aircraft I owned until this year. I have a retired DHC2 pilot friend with 26,000 hrs floats, they quoted $12,000 for in-flight on his C180 amphib. They same company offers in-flight on my CH750 with amphibs for $1,400... I had to do 5 take-offs / landings with an instructor (I used the instructor I type trained on the CH750). Check out on type training is never a bad idea.

Bob 

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Permalink Reply by Dr. Edward L. Olds III on August 27, 2012 at 10:53am

Bob,

Thanks, I will be looking for some check out time.  Glad I'm not insuring a C180!

Ed

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Permalink Reply by Sebastien Heintz on August 27, 2012 at 9:34am

Thanks for sharing your experiences.  Aircraft insurance (like all insurance, I suppose) seems to vary quite dramatically case by case, and there seems to be very little standardization within the industry.  That's why I recommend builders / pilots to obtain a number of (competitive) quotes, regardless of your experience with a particular broker / underwriter.  Their requirements, coverage, and rates vary a lot, so shop around.

Next month at the Zenith Open Hangar Day, Scott "Sky" Smith of SkySmith Insurance Agency (in Iowa) is presenting a seminar on aircraft insurance as it applies to building and flying (a Zenith), and hopefully he will answer relevant questions from Zenith builders, owners and pilots about insuring their project.

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Permalink Reply by Dr. Edward L. Olds III on August 27, 2012 at 10:55am

Sebastien,

Thanks for the info.  I am hoping to get down for the Open Hangar Day, but only if you promise warmer weather than last year!  I'm off to Germany this Saturday, I hope to visit some airfields while over there.  I'll also call Scott Smith.

Ed

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Permalink Reply by John Austin on August 28, 2012 at 6:44am

Sebastien,

I take exception with your comment about "regardless of your experience with a particular broker." I'm certainly in no way related to the insurance industry (I'm a retired doc who was paying $70,000/yr for liability insurance when I retired!!!), but I've used the same agency/broker for 20 yrs. In talking with an insider in the business, I was told that established brokers with long-time relationships with companies DO influence the underwriters, i.e., they learn to trust what the broker is representing about the pilot's credentials, experience, and loss history. With my Cessna 206, I consistently was able to get better coverage for less dollars with less restrictions. I used the same broker for my 750, and I've yet to see anyone mention a lower premium or less pre-flight qualifications than what I obtained. Ironically, as I understand it, I was placed with the same company that EAA uses, but it appears I'm paying substantially less than going through EAA! A good broker will do the shopping for you, but I do agree that if the quotes are way out of line, then shop around!

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