Cost of Insurance, How much are people paying?

[n85ae]

Time for the annual gouging by the insurance company, I would be curious to know
what people are getting quoted for Kitfox insurance, what coverage they have, and the
company they get it from?

Thanks!
Jeff

[ken nougaret]

This is my 3rd year with bwi. The 1st 2 years were $1008. This year I'm being quoted $1250. When I questioned the rise they said it's gone up across the board.
I have $50k hull full coverage.

[efwd]

There are many variables. I'll share mine. Rusty pilot returning after 25yrs. Only 265hrs TT, Commercial and instrument license, obviously not current. Current BFR and new Tail wheel endorsement with only 15hr tail wheel time. So, I think I must qualify for the higher end of the insurance premium range. Lucky me. I pay $2000 a year. They assured me it would go down as I obtained more tail wheel time. Im currently at 130hr and and on track to have 200hrs tail wheel time by March renewal. Hope its better and certainly don't want to see and increase.

[HighWing]

I paid $1375 this year from Falcon. 1270 hours in tailwheel and of that 1025 in Kitfox IVs. Cost up about $150 from last year and that is likely because this year will be BD # 80.

[avidflyer]

I had used Falcon for years, but their rates doubled on me, and that was with no recent claims. I went to Avemco, and they were about 1/3 less then Falcon. I'm a half owner in an Aeronca Chief as well, and we switched from Falcon to Butler Brown, and our rate went down 40% (from 1250 to 750). Not sure if Butler Brown does experimentals though. I'll find out in March when the Avid is due again. I just carry liability on my Avid, we have full coverage on the Chief. JImChuk

[n85ae]

Same rate as mine, and I'm with Falcon also ... Mine jumped $150 as well.

Jeff


I paid $1375 this year from Falcon. 1270 hours in tailwheel and of that 1025 in Kitfox IVs. Cost up about $150 from last year and that is likely because this year will be BD # 80.

[Jerrytex]

Same boat. I used Falcon. I used to have full coverage 2011-2013 (30K hull) which was $1500 ish. I dropped that to not in motion and it went down to $800ish. My last renewal for the same "not in motion went up to $1000. So now I am only going to have liability only which is $175 ish. If I went back to full coverage, even with more tailwheel time now, my premium would be $1800ish which is crazy expensive.

The cost of insurance for airplanes is ridiculous. I have an offshore boat that I can load up 9 people on, go offshore up to 100 miles, without a captains license, or any kind of inspections, or ratings, and it costs $400 a year for full coverage and 50K hull value. I understand that there are alot more boats than airplanes so the cost is spread out more, but most people that have airplanes are a lot more meticulous with maintenance and careful about conditions so much less of a liability to insurance company than recreational airplanes. I just think they gouge becasue they can.

[GuppyWN]

$1250 with BWIfly.com. 70k hull.

[jrevens]

I switched from Falcon to BWI also. $60,000 hull, tailwheel time 1500+, 70 years old, $1262. Renews in March... we'll see.

[airlina]

I recently got a quote from BWI that was north of $1500, for 50,000 hull and liability. 1000 tailwheel in make and model , clean history , ATP 20000 total . Too rich for me still looking , Bruce N199CL

[Av8r3400]

I just renewed again with Falcon. They switched me to another carrier this year (forget which, sorry).

I have about 1000 hours in type, tailwheel, of my Kitfox IV. For $60k hull, $1M liability, my premium was about $1100 for the year.

I did have an interesting follow up with them this year. I had checked on the information request (as I always do) that I operate off "unpaved" airstrips. They emailed me back asking for a list of the unpaved strips I use. Needless to say, that is a very loaded question. I emailed back saying that I operate off strips ranging from Johnson Creek Idaho (and listed several others in the Frank Church I visited this summer) to several of the local "private" strips in my home area, along with potentially thousands of other strips both listed and unlisted with the FAA. I commented that my airplane is a bush plane, designed for "off airport" operations and wanted direct comment if this is going to be a problem with coverage.

This is the response I received:

Good morning Mr. Wenning,

Most of the times the underwriter will want to know what airports you will be using if they are not paved. I will just let them know that you advised that there could be a lot of airports you may use that aren’t paved, and then reference 3U2 and W23, I think they will be satisfied with that answer.

Regards,
Mary Corbin


I have not received any further requests for information and consider the matter closed.

[airlina]

Larry , Your quote is the best I've seen , any chance you can find out who your specific carrier is? I will give Falcon a call. Thanks Bruce N199CL

[Av8r3400]

Old Republic Aerospace, $1089.

[jrevens]

Previously I had Old Republic ,through Falcon, also, and requested the exact same coverage limits as you have, Larry. The quote was about $300 dollars more than that (Old Republic also). Sometimes I wonder how the insurance game really works. Maybe the difference was because I had much less time in the specific make/model, or maybe my age? Anyway, BWI was better for me (National Union).

[airlina]

Thanks Larry , and John I am seeing the same thing with the inconsistencies in quotes from one guy to the other for what appears to be identical coverage. Bruce N199CL

[Av8r3400]

There are hundreds if not thousands of variables that go into setting insurance premium rates. Trying to match rates with another person is mostly impossible. I deal with insurance and agents on a daily basis in my day job.

Age, location, experience, hair color, type of shoes you wear, all go into this racket...

[airlina]

In that case I'm gonna dye my hair from grey to bleach blonde! Bruce N199CL

[chipjumper]

Wow and I thought I could save a few bucks dumping my Mooney for a KF. Anyone here have a tricycle KF - what are you paying?
My insurance went up 19% for my $50k Mooney from last year and up over 40% compared to my rate three years ago. It’s at the point I serious considered dumping the hull cost (74% of the overall premium). If I survive the wreck I could come back and pull the radios which are probably most of the value of the ship. If I don’t survive then too bad so sad.


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[bogmonster]

Same boat. I used Falcon. I used to have full coverage 2011-2013 (30K hull) which was $1500 ish. I dropped that to not in motion and it went down to $800ish. My last renewal for the same "not in motion went up to $1000. So now I am only going to have liability only which is $175 ish. If I went back to full coverage, even with more tailwheel time now, my premium would be $1800ish which is crazy expensive.

The cost of insurance for airplanes is ridiculous. I have an offshore boat that I can load up 9 people on, go offshore up to 100 miles, without a captains license, or any kind of inspections, or ratings, and it costs $400 a year for full coverage and 50K hull value. I understand that there are alot more boats than airplanes so the cost is spread out more, but most people that have airplanes are a lot more meticulous with maintenance and careful about conditions so much less of a liability to insurance company than recreational airplanes. I just think they gouge becasue they can.

That sounds similar to my experience except that my liability only went up to 600 or so after being 300 for the previous 5 years. I was about to bind and I asked BWI, to ask the company I was binding with, if they had the EAA exemption for skis and they came back almost immediately and retracted their quote. That left me with one option and I didn't dare ask about skis.

BTW: Anyone interested in some Airedale Wheel Penetration Skis for 6x6.00 wheels?

Mike

[109JB]

Keep in mind that it is the hull coverage that pays for the removal of the airplane from the accident site, not the liability portion. Without hull, you or your estate are responsible for paying for recovery. If the accident happens lets say somewhere like a road where the road has to be opened up quickly, the local authorities are going to make it happen and you will be sent the bill. With hull coverage the insurance company would have to pay this. Without, you do, or your estate.

[109JB]

On my recently purchase Kitfox I got 3 quotes all based on $20k hull, 1million liability, 1500 TT, 0 in the last 3 years, 0 time in make/model, 350 tailwheel, commercial ASEL, AMEL, ASES, CFII, MEI.

Falcon - $1004, but the policy would not cover auto engines or 2-strokes and my KF is a 582 powered, so falcon was out.
CV Starr Indemnity came in at $1230 - Never got an answer about ski use as my airplane came with a set of wheel penetration skis
Global Aerospace came in at $1294 - This is who I went with because they covered ski use under the EAA exemption, the 2-stroke wasn't an issue, and because I am familiar with Global.

[jeffbock]

I insure with Avemco and although not cheap, they always answer the phone. $1,900 with full coverage, 1Mil liability, ,$100,000 medical and $72,000 hull; and a couple hundred less when on hangar only, in winter.
Am ATP with 26,000hrs. 800 TW and 450 in Kitfox (TW) Yellow Kitfox.

[Shadowrider]

I just joined EAA so I could have them give me a quote. I tried our broker that insures our company aircraft and they suggested using someone else because they don’t have access to some underwriters. 1700$ full coverage 110k hull and 0$ deductible. 1mil liability. I only have 55 tailwheel time.

[Monty]

I just joined EAA so I could have them give me a quote. I tried our broker that insures our company aircraft and they suggested using someone else because they don’t have access to some underwriters. 1700$ full coverage 110k hull and 0$ deductible. 1mil liability. I only have 55 tailwheel time. what company gave this pricing?

[Shadowrider]

Underwriter is Old Republic, broker Falcon.