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Insurance quotes

Piggyboy343

I'm New Here
Well I finally passed my checkride and am legal! Whew. Now on to the next chapter: buying a plane.

Have my eye on a RV-12, real nice plane and clean! Price is reasonable and I'm fine paying for quality work but when it came to get the insurance quote I wanted to throw in the towel. I know I have low time (under 100) but I wasn't prepared for how much they wanted. I was told $8400 a year with Star (i guess they're the most expensive) and just got another $3200 with someone more reasonable(Assured) but I have to log 10 hours and 15 landings to be legal for the policy. I called AOPA and the lady who helped me said experimental aircraft are more to insure which makes sense but I wonder how high that is or if it's the norm? I have high performance cars and motorcycles and my insurance for those isn't anywhere near that. It would be cheaper for a Cessna or Piper but I'm not willing to have cheaper insurance for a plane I really don't want. Is this the norm for everyone out there? I've heard you can't really 'shop' around for plane insurance like you can for cars, is that even true? Does it go down after you build hours? Ugh, just unsure of everything right now, looking for some advice from everyone who's gone down this road.
 
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There is a LOT to learn about aviation insurance - one way to find lots of reading is to use the search function here - just search for “insurance” and sit down for a lot of reading.....

Then find a good broker (Many participate here) and let them shop the market for you.

And yes, low time, low time in type - its going to cost!

Paul
 
I found my best rates going through EAA and BWI ((800) 666-4359) In California. Of course, I had over 500 hrs, so that helped me.
 
Insurance

Avemco sent me a invitation for a quote, plus a free hat, so I sent it in.
Avemco $4000. For my $40000 airplane
My broker, Wenk Aviation $1200
I got the free hat!
Dave
 
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Your situation is very similar to mine. I am a new sport pilot, just bought an RV-12 and have just under 100 hours. I purchased insurance with Gallagher at an annual premium of $1,819 with a requirement of 2 hours transition training time. Gallagher specializes in RV aircraft and they are very familiar with experimentals.

Stephen
 
Aviation Insurance Resources

I have a RV12iS I'm a low time pilot with less then 120 hours and I was quoted $1,600 though Aviation Insurance Resources, talk with Chris Wolbert.

877-247-7767.
 
In 1992 I bought a Yak-52. I paid $3000 for hull and liability. I had a private, with instrument rating and about 1300 hours. The second year I dropped hull coverage and my premium dropped to $300 per year. Depending on your ability to assume financial risk you might want to ask about liability only coverage.
 
Gallagher and BWI shopped around and found me the best rates on my RV9A.. call Leah Ringeisen at Gallagher 877-520-6247
 
Another vote for Gallagher. I bought my RV-12 when I had under 100 hours, if I recall correctly. Five hours dial and the rate with $75K hull coverage was under 1400. Of course that was several years ago. Now we have three named pilots, none of us high time, and we’re still paying under $1400 per year with hull coverage.
 
Also try "Sky" Scott Smith. I sold my 12 last year but for 2019 full coverage was just less than $1000 for $90k hull with Global. 2020 is $1150 with them for my RV-7A for $115k hull. I'm getting a discount for high RV hours but I'm hearing about $1800 for a newbie from folks with recently finished 12s.
 
Insurance agent

I just bought an RV-6a and needed insurance. Went with the folloing broker.

Adam Troendle, CEO/President
Eagles Wings Financial, LLC
[email protected]
Office: 806-416-1002
Cell: 507-273-8605
www.EaglesWingsFinancial.com

They had 7 quotes for me in 2 days. The best was Old Republic
$1014/yr with
$70,000 hull value
$100,000/$1,000,000 liability,
$5000/person medical-

I currently have 1 hr in an RV-6A. The rate will go down after I have accumulated flight time.
To bind coverage I need a checkout in the make and model aircraft by a properly certificated flight instructor prior to sole PIC operations. The flight instructor administering the checkout must have at least 25 hours in the Make & Model.

Rob
 
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Check with Chad Smolik in Fort Worth. Im a low time pilot with 0 time in the 12is. (Just recently purchased) Full hull coverage was $2k/year
 
Just out of curiosity, what per seat liability limit do you have (i.e., $100,000, $200,000, or none)?

Physical damage $110,000
Liability per occurrence $1,000,000
Liability per passenger $100,000
Medical per passenger $10,000

No deductible
 
Another vote for Gallagher. I bought my RV-12 when I had under 100 hours, if I recall correctly. Five hours dial and the rate with $75K hull coverage was under 1400. Of course that was several years ago. Now we have three named pilots, none of us high time, and we’re still paying under $1400 per year with hull coverage.

Yet another vote for Gallagher from me. I've had almost the same experience as DaleB except I bought my plane 3 years ago before I finished my license. It's been in the $1300-1400 range every year. I'm now at 300 hours.

Whatever you do find a broker that does lots of Vans planes. They know which companies to work with.
 
I see a lot of votes for Gallagher, but when I got a quote in June they wanted $3950 to insure the RV12 for a 65k hull value. I went elsewhere. At the time I had a little less than 100 hours.
 
I've been going through EAA / Falcon Ins. for my RV-12 for several years. This year the initial quote was 28% higher than in 2019. After raising concerns about the unexpected bump, revised quote came down to $1,002 - which was a little lower than in previous years. (Glad I asked!) 830+ total hours, 600+ in type.

$70K hull,
Standard $100K & $1 million liabilities
$10K per person medical.
 
Another +1 for Gallagher

Call Katie Escalante

Light Aircraft Account Executive Gallagher Aviation

Arthur J. Gallagher Risk Management Services, Inc.

P: 877-961-6247 Fax:636-532-3646

www.ajg.com\lightaircraft | www.ajg.com


$1189 per year $1M/$100,000/$10,000 $67,000 hull replacement
2012 early legacy RV12 purchased in 2016 with 100 hours on it.
Been roughly the same price +/- for the last 3 years.
Me - 350 hour sport pilot with NOW 200+ hours in type.
 
I'll chime in here since I am in the process of getting quotes for a soon-to-be-completed RV-12iS (IFR). I'll update this post as more quotes come in.

  • My Info: 160 TT, ASEL & Glider private pilot. 15 hr last 12-months. 6hr complex, 8hr glider, 1hr multi
  • Plane Info: RV-12iS (Garmin G3X/IFR avionics); hull value calculated by adding all installed options at Van's current pricing. $108,000

EAA > Falcon Insurance > AIG:
Hull: $2174 (Deductibles: $2500 in-motion; $500 not-in-motion)
$1,000,000/$100,000 liability: $371
$10,000 per person Medical: $0
This includes a 15% discount for hangered aircraft and 5% for AOPA member.
Total Premium: $2546

Gallagher > AIG
$1,000,000/$100,00 liability;
$5,000 per person Medical
Total Premium: $2546

Gallagher's terms are slightly better: They allow "open pilot" (any private-pilot or higher with 500hrs and 25hr in type). Also, they require 1hr dual vs. Falcon's 3hrs+2hrs solo before passengers.
 
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As a follow-up for those that have Gallagher for their RV-12:

My initial quote from them today contained this exclusion:

if you know the aircraft is not certificated by the FAA under a Standard Airworthiness Certificate infull force and effect, while in flight(unless endorsed by the insurance company)

I'm not sure that their intake form allowed me to specify if it was a certificated aircraft or an experimental.. But be sure to check to make sure you have an extra endorsement on your policy somewhere. I suppose because the Mfg is "Vans Aircraft" on E-LSAs, there is some opportunity for confusion.
 
As a follow-up for those that have Gallagher for their RV-12:

My initial quote from them today contained this exclusion:

if you know the aircraft is not certificated by the FAA under a Standard Airworthiness Certificate infull force and effect, while in flight(unless endorsed by the insurance company)

I'm not sure that their intake form allowed me to specify if it was a certificated aircraft or an experimental.. But be sure to check to make sure you have an extra endorsement on your policy somewhere. I suppose because the Mfg is "Vans Aircraft" on E-LSAs, there is some opportunity for confusion.

I dealt with both BWI and Gallagher and their best quotes (from AIG) came in within dollars of each other. Gallagher’s quote, however, including an Open Pilot Warranty and a Waiver of Subrogation. My CFI for transition training is a good friend, and I ended up naming him on the policy as an insured since he’ll be flying the plane occasionally for personal use, even with the OPW and waiver. That might be useful if I get instruction from someone other than him.

As to “other than standard” airworthiness certificate, my policy contains the clause:

AIRWORTHINESS CERTIFICATE ENDORSEMENT
This policy is amended as follow s as respects : Nxxxx
The term "Standard Airworthiness Certificate" appearing within the policy is amended to read "Experimental,



...
 
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I can tell you that any CFI with two nickels to rub together will want to be listed as an insured pilot on any plane he is flying for more than a one time lesson. Today’s litigious society drives it.
 
  • My Info: 160 TT, ASEL & Glider private pilot. 15 hr last 12-months. 6hr complex, 8hr glider, 1hr multi
  • Plane Info: RV-12iS (Garmin G3X/IFR avionics); hull value calculated by adding all installed options at Van's current pricing. $108,000

EAA > Falcon Insurance > AIG:
Total Premium: $2,546

Gallagher > AIG
Total Premium: $2,546

Gallagher's terms are slightly better: They allow "open pilot" (any private-pilot or higher with 500hrs and 25hr in type). Also, they require 1hr dual vs. Falcon's 3hrs+2hrs solo before passengers.

Just wanted to provide an update, 1 year later. The original coverage was with Gallagher (AIG) for $2,546. The renewal quote from Gallagher (AIG) was quoted at $2,256.

They also provided a quote from Old Republic Aerospace with the same limits/coverage for $1,530. And also an option for $250k each passenger for $1,664.

This will be the 2nd year my 12iS has been flying. Presumably there is less risk after 1 year because pilot has some experience and the plane has its kinks worked out. I flew about 100 hours this year in the 12iS, which I think helped with pricing..but was probably a small factor in the equation.
 
Gallagher rocks!
They put me in touch with Old Republic Aerospace.
They quoted me $1,300.00 a year. Great coverage!
I'm a brand new RV12 owner with zero RV12 time.
I have 260 hours total time about 50 of which is complex.
Avemco wanted $4,300.00.....
 
Avemco is so out there that their quotes are hardly ever mentioned. They don't want our business.

Sure seems true in the RV world Sam! But then again, they are the ONLY ones out there that will even quote on my jet - and then liability only….

So they have a place in the market (just not the RV market it appears).

Paul
 
My insurance rates have remained virtually constant for 36 years on my Cherokee with $1M total coverage for hull, medical and liability. This year I hit the big 70. With an ATP, over 5500 hours and an MEII. I was offered a limit of $100K coverage at a premium of $770 or a premium of $1552 for $1M total coverage. Looks like 70 is a definite issue with the insurance guys.
 
Well I finally passed my checkride and am legal! Whew. Now on to the next chapter: buying a plane.

Have my eye on a RV-12, real nice plane and clean! Price is reasonable and I'm fine paying for quality work but when it came to get the insurance quote I wanted to throw in the towel. I know I have low time (under 100) but I wasn't prepared for how much they wanted. I was told $8400 a year with Star (i guess they're the most expensive) and just got another $3200 with someone more reasonable(Assured) but I have to log 10 hours and 15 landings to be legal for the policy. I called AOPA and the lady who helped me said experimental aircraft are more to insure which makes sense but I wonder how high that is or if it's the norm? I have high performance cars and motorcycles and my insurance for those isn't anywhere near that. It would be cheaper for a Cessna or Piper but I'm not willing to have cheaper insurance for a plane I really don't want. Is this the norm for everyone out there? I've heard you can't really 'shop' around for plane insurance like you can for cars, is that even true? Does it go down after you build hours? Ugh, just unsure of everything right now, looking for some advice from everyone who's gone down this road.

As Paul said, search these forums. This topic comes up once a quarter +/-. Get competitive quotes. Just like in business, and RFP is really the only way to get the best price. The range will be all over the place.
 
My insurance was shopped through USAA. Over the years they have always been ther on claims. Yeah, the premium is higher, but you get what you pay for.
 
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