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Thread: If you need insurance...

  1. #21
    Senior Member
    Join Date
    Feb 2020
    Location
    Steilacoom, WA
    Posts
    729

    Default Re: If you need insurance...

    That is a good point. And you're correct, most life insurance policies exclude part 91 flying and it pays to read the policy. My dad was not a fan of me learning to fly and used that point to argue that GA flying is not as safe as we would all like to think.

    My kids are grown, my significant other can support herself and my affairs are in order. I work for an airplane company and carry a pretty good chunk of term life which will all go to my kids. My policy does not exclude flying. As a bonus (if there could be a bonus in dying) my payout doubles if I die on company property and triples if I die while traveling on company business. So here's to hoping, am I right? Assuming I make it to retirement before reaching room temperature my kids will have to pick through my limited assets, but at least I won't owe anything.

    Now for the good news

    I just got my quote back from my insurance broker. Using an $80k hull value my quote while my plane is under construction is $480/year. Once completed my rate is $1950/year. Not the sticker shock I was expecting. I love that lady more every time she quotes my policy.
    Kitfox 5 (under construction)
    Commercial SE/ME, CFII

  2. #22
    Senior Member
    Join Date
    Apr 2009
    Location
    Chisholm Mn
    Posts
    1,562

    Default Re: If you need insurance...

    I just got my bill for next years insurance on my Avid Flyer and Kitfox 4. The Avid was 367, and the Kitfox was $335. This is for $500,000 liability only on each and through Avemco. That price for the Kitfox is the lowest I've ever been charged. JImChuk

  3. #23
    Senior Member Rodney's Avatar
    Join Date
    Jan 2009
    Location
    Hugo, Oklahoma
    Posts
    226

    Default Re: If you need insurance...

    I formed a LLC and put my airplane in it. The LLC has no other assets - sue away.

    I no longer personally own the airplane.

    If I ding it up -I can get any part I need to fix it. Older pilots are running out of reasonable
    choices.

    Regards
    Rodney

  4. #24
    Senior Member
    Join Date
    Apr 2009
    Location
    Chisholm Mn
    Posts
    1,562

    Default Re: If you need insurance...

    Some states, Mn being one of them requires at least liability insurance on an airplane. JImChuk

  5. #25
    Senior Member Cherrybark's Avatar
    Join Date
    Dec 2015
    Location
    Near Tyler, TX
    Posts
    509

    Default Re: If you need insurance...

    Contacted Travers, mentioning I was shopping for insurance through them because they were able to find coverage for Brian. I'm definitely a rusty pilot with only 8 hours in the last 12 months (Stinson and Waco Biplane) to get my ratings current. Ratings are commercial single, multi and glider. Also have an instrument rating. Overall just over 1200 hours total time with 168 hours tail dragger. No clue what parts of that information matter to the underwriter. I asked for $1mil liability and $0 hull. Travers found coverage through Global Aerospace for $495. Before acting as PIC I have to complete a check out with a CFI in a different Kitfox. I already had sessions scheduled with an FBO who uses a Kitfox for taildragger training.

    Thanks for recommending Travers Brian.
    Carl Strange
    Flying
    SS7, 912iS, Oratex, G3X

  6. #26

    Join Date
    Feb 2021
    Location
    Central, IL
    Posts
    4

    Default Re: If you need insurance...

    Quote Originally Posted by Eric Page View Post
    Crash your airplane with your neighbor's kid in the right seat, putting him in a wheelchair, then tell us how much of a scam your insurance is..
    Yeah, not for what they charge for experimentals it’s not and they wonder why GA isn’t growing, when it costs you 2/3s of your income to own a plane and be able to fly it, I would say that is an Issue.

  7. #27

    Join Date
    Dec 2014
    Location
    Las Vegas, NV
    Posts
    118

    Default Re: If you need insurance...

    I just renewed my insurance with Old Republic, $1 million liability and No Hull coverage. I used a broker and Old Republic had the best offer of $420 for a years coverage. I’m well into my 60’s, private pilot, with about a thousand hours in the KF, no prior claims or reportable incidents.
    Michael Meyers
    KF IV
    Las Vegas, NV

  8. #28
    Russell320's Avatar
    Join Date
    Oct 2009
    Location
    Chandler, AZ (P19)
    Posts
    93

    Default Re: If you need insurance...

    New insurance premiums……Kitfox- $107 liability + $822 hull ($29,000)=$929 premium.
    RV6A- $112 liability + $588 hull ($65,000)=$700 premium…….$929 + $700=$1629 total premium.

    I'm happy! 😁 I thought it would be worse.
    Russ
    Model IV Speedster
    912UL IVO IFA
    RV6A
    Needle, Ball and Airspeed
    Maybe a little GPS

  9. #29

    Join Date
    Dec 2014
    Location
    Las Vegas, NV
    Posts
    118

    Default Re: If you need insurance...

    I just renewed my insurance with Falcon Insurance. I’ve got $1 million liability and no hull. The new rate is $509, about $80 more than last year. I’m well into my sixties, no prior claims, incidents or accidents, with about 1K KF hours.
    Michael Meyers
    KF IV
    Las Vegas, NV

  10. #30
    Senior Member
    Join Date
    Jun 2008
    Location
    wales,ny
    Posts
    710

    Default Re: If you need insurance...

    Michael , just went thru the insurance dilemma myself , got a qoute that i had them break down with liability only -same as you paid over $500( I'm mid 60's in age as well) and the next with liability with a minimal hull value tacked on of only $30,000. (obvious not near what the plane is worth , but the benefit is now the liability drops to $107 and the hull is $890 for a total of $997. It seems its all a shell game with insurance so I bit the bullet and paid the grand. As I recall last year I had $50,000 hull and it was close to $1500 bucks. Bruce N199CL

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