You guys are lucky.. Up here in Canada, I'm paying almost 1300.00$ without hull, only liability. 3 Years ago it was $800.00. No accidents.
You guys are lucky.. Up here in Canada, I'm paying almost 1300.00$ without hull, only liability. 3 Years ago it was $800.00. No accidents.
I'd be careful undervaluing the hull coverage. If you have a loss, the agreed value is used to base whether they will pay for repair. Usually if damage reaches 75% of agreed value, not actual value, they will total it and try to recoup some of the loss by selling your airplane for salvage.
Also, if totaled, the agreed value is all you get and they get the airplane and any installed equipment.
John Brannen
Morris, IL
Sonerai IIL (Single Seat)
Kitfox 3/4 1050 - Rotax 582 (Back Flying and sold)
Kitfox IV 1050 - Rotax 582 (sold)
Kitfox IV 1200 Speedster - Rotax 912 UL (rebuilt and now flying)
Piper Twin Comanche (Sold)
Glasair 1 FT (Waiting to start)
Good information John, for the 20 years I've owned and flown my Series 5 I was totally uninsured probably 3/4 of those years. Very rarely do I ever have any hull insurance so I am not risk averse and have no problem with self insuring . Only problem is the last few years I have given lots of rides and to do that I have to have liability insurance. With the inflationary pricing on everything these days , somethings got to give , and to continue flying it will be no more insurance if things don't change. I will then have to shut down "Airlina" -the one seat domestic airline. Bruce N199CL
Here's a post-COVID, inflation-lunacy update...
For a new Model 7 SS as a low-time pilot (100-ish hours), I'm being quoted $4,950/year. ($410/mo). That is with hull coverage at $120k. Liability is $495/year. But I'm flying a diversified portion of my retirement fund here so I'm not willing to risk it...
They did tell me that at 150 hours they'd knock off 5%. No discounts for add'l training.
[insert nausea emoji here....]
As a comparison, I have a private/instrument ticket with 1300TT, about 1000 taildragger/Kitfox, my insurance renewal this August for the Mangy Fox (Model 4-1200) full hull declared at $60k, $1M liability, is $1800/year.
This is through EAA/Falcon insurance brokerage.
I just renewed my insurance with Old Republic Insurance. I?ve got $1 million liability and no hull. The new rate is $563 about $50 more than last year. I?m 65+ years old with no prior claims, incidents or accidents, and 1K+ KF hours.
Michael Meyers
KF IV
Las Vegas, NV