Shopping for Insurance

Re: Shopping for Insurance

I have used Professional Insurance Management (PIM) since about 1990. Very good rates. I made one claim for total and they paid. I pay about $700/year for $20k hull and liability.

http://www.pimi.com/

[3Dreaming]

Re: Shopping for Insurance

Right now the insurance market is very good for the one buying. Some new companies in the market place. When you have an agent get you a quote for your N-number aircraft the company will not quote it to an other agent. The only thing an other agent can do is maybe quote a different company that the first agent did not have access to. If you call an other agent make sure you tell them who you have talked to, so they know which companies to contact.I don't know if there any companies still dealing direct, but you might check that as well. Tom

[MNJoe]

Re: Shopping for Insurance

Paying less then $1000.00 dollars a year for Hull and Liability is very reasonable for a tail dragger. Dropping Hull coverage will most likely save only a few hundred dollars at most! All it takes is one claim to be way ahead. As far as you liability coverage if you check your policy you most likely only have 1,000,000.00 per occurence / $100,000.00 per seat most people don't realize it and think they have $1,000,000.00 per accident no matter what. I also have a A36 Bonanza that is used in my business. We have $2,000,000.00 per seat which we have had for many years. The carrier has told us if we were trying to get that kind of coverage it would be very difficult. That policy cost $5,500.00 this year down from $7,000.00 a few years ago.

Joe

[Pearson]

Re: Shopping for Insurance

To a certain degree, your premium depends on how much hull value you request. I pay $798 for 18K of hull coverage and I forget how much liability. If you have a LOT of property or a small business, you might want to consider a higher liability limit than the minimum.

I have been told by more than one agent that there are only ABOUT 7 aircraft insurers in the country. They told me that it can actually hurt your quote by calling dozens of "agents" requesting quotes. They say the best thing is to assign an "agent of record" and let him get the quotes.

[Carrieve]

Re: Shopping for Insurance

I agree. I go to the mailbox everyday and my Obama check isn't there either. I have seriously considered dropping my hull coverage. It might be a big mistake. I dropped the collision on my 98 Ranger and I saved a bundle. Life is a chance. I was paying $900 plus for full coverage for my Tcraft. Is that in the ballpark?
Carri

[KewFlyer]

Since the "economic stimulous package" has not arrived as of today and the Taylorcraft's insurance is due by the end of the month, I am approaching the members of this tribe for advise on where to go shopping for insurance. I am aware that rates may vary for each individual, aircraft and their own particulars. I am currently with the EAA insurance carrier. Without getting quotes from other insurance companies, I wont feel that I have done my due dilegency to cut costs, specially under the current economic situation. Your advise is welcome. Others in this group may also be thinking about cutting costs, specially when it comes to this fixed cost of flying our planes = the insurance. Thanks in advance. Ralph:clue?::