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  #1  
Old 12-13-2019, 10:29 AM
gossend gossend is offline
 
Join Date: Dec 2011
Location: Georgetown, Texas
Posts: 186
Arrow Age-related Insurance restrictions

I just turned 75, flying an RV 12 under basic med. The subject of age-related insurance restrictions came up at lunch today, so I thought I would throw it out there. The comment was made that global aerospace, for one, will routinely increase Restrictions on flying as you get older. As a matter of policy AIG, for example, does not. I'm currently looking for renewal and I think I should be concerned about this. Does anyone have a qualified perspective on the subject?
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  #2  
Old 12-13-2019, 10:37 AM
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Piper J3 Piper J3 is offline
 
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Location: Hinckley, Ohio
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When you say "Restrictions on Flying"... what does that refer to? I suspect insurance company will not write policy based on age?
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Jim Stricker
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Bought Flying RV-12 #120058 Oct 2015 with 48TT - Hobbs now 633

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  #3  
Old 12-13-2019, 10:44 AM
gossend gossend is offline
 
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Restrictions such as flying only with CFI, liability coverage only, etc. Not to mention, sky-high rate quotes.
Reportedly, some underwriters are more aggressive about this than others.
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  #4  
Old 12-13-2019, 11:09 AM
flyinga flyinga is offline
 
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Location: Fredericksburg, TX
Posts: 667
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Other possible restrictions: Flight Review every year, Class III (or above medical), no complex aircraft, etc. This came from ABS magazine.
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  #5  
Old 12-13-2019, 11:26 AM
Wolfgang Wolfgang is offline
 
Join Date: Dec 2018
Location: salida, co
Posts: 23
Default Age-related insurance costs

I am 89.5 years old and fly an RV-12 with Global insurance...no restrictions...I did not ask for nor want hull insurance, just liability and hangar damage coverage (a local requirement)....no problems, no special requirements..annual cost about $900
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  #6  
Old 12-13-2019, 12:09 PM
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FasGlas FasGlas is offline
 
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I have a friend that's a retired airline capt., 10's of thousands of hours, every rating, never filed a claim, never had an FAA problem, active pilot... Had an extraordinary C-210T that he owned and flown for many years.. When he hit 84 his insurance went from $2K a year to $10K a year for no reason. He had to sell his C-210T.
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  #7  
Old 12-13-2019, 12:26 PM
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RV8JD RV8JD is offline
 
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Check out this thread started by Leah from Gallagher Aviation:

"DID YOU KNOW older pilots need to take extra precautions when comes to insurance?"

Contact them directly for more information based on your situation.
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Last edited by RV8JD : 12-13-2019 at 12:29 PM.
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  #8  
Old 12-13-2019, 02:57 PM
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KatieB KatieB is offline
 
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Location: Belton, MO
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Back when we were in the LSA sales & manufacturing business, we lost a few sales because potential customers were over 80 and could not get insurance for their new airplane. The kicker seemed to be a lapse in coverage. If they had sold their previous airplane and cancelled their insurance, it was almost impossible to get another policy for their new plane. But if they were continuously insured, for some reason that was usually OK. (NOT always.)

It's terrible to put people under blanket restrictions like that solely based on age. I'd say, if they want twelve-month flight reviews, fine. But don't do it because of another birthday.
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  #9  
Old 12-13-2019, 10:06 PM
RFSchaller RFSchaller is offline
 
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Location: Phoenix, AZ
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In the early 90s I had about 1,000 hours total time with no HP/Complex sign off. I bought a Yak 52. My choices were $2,000 a year for liability and hull coverage or $300 for just liability. At the time I was paying $1,000 for hull and liability on my Cherokee. I learned that extent of coverage makes a huge difference in premium. BTW at 68 I still pay $1,000 per year for the same Cherokee coverage and about the same for the RV-12 for same coverage. I added ratings along the way since 1990, so that is probably a factor in the stability of my premiums.
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  #10  
Old 12-17-2019, 07:23 AM
AirHound AirHound is offline
 
Join Date: Oct 2006
Location: St Louis, MO
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Quote:
Originally Posted by RFSchaller View Post
In the early 90s I had about 1,000 hours total time with no HP/Complex sign off. I bought a Yak 52. My choices were $2,000 a year for liability and hull coverage or $300 for just liability. At the time I was paying $1,000 for hull and liability on my Cherokee. I learned that extent of coverage makes a huge difference in premium. BTW at 68 I still pay $1,000 per year for the same Cherokee coverage and about the same for the RV-12 for same coverage. I added ratings along the way since 1990, so that is probably a factor in the stability of my premiums.
Recently told by two insurance companies to expect future year increases regardless of age due to industry hits from natural disasters.
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