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Thread: Insurance Cost

  1. #1

    Insurance Cost

    Hello,

    I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    type. My insurance renewal this year is $1,175 for a value of $50,000 with
    Aircraft & Marine. I have no accidents or other adverse indications on my
    license.

    As the industry locks you out from getting other independent quotes once
    someone asks for an insurance quote for your plane, I would like to hear
    from other MM owners if they feel this quote is reasonable.

    Thank you,

    Scott Flood
    N6146N




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  2. #2

    Insurance Cost

    I would say yes. I have a 1965, 165 HP Mouse valued at $30,000. I have 700 hours with over 600 in the Mouse and an Instrument rating. My insurance is just over $600. You can just about factor on the relative value of the hull, so 5/3 X 600 = $1000 and a little discount for the Instrument Rating and more time.

    Scott Flood <sflood@iballot.com> wrote: Hello,

    I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    type. My insurance renewal this year is $1,175 for a value of $50,000 with
    Aircraft & Marine. I have no accidents or other adverse indications on my
    license.

    As the industry locks you out from getting other independent quotes once
    someone asks for an insurance quote for your plane, I would like to hear
    from other MM owners if they feel this quote is reasonable.

    Thank you,

    Scott Flood
    N6146N





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  3. #3

    Insurance Cost

    Scott, for us to do a valid comparison, we have to know how much
    liability you are carrying.

    I just got my renewal also. Mine is a 1967 A23-24 Super III 200HP,
    hull value $45,000. Liability coverage is $1 million smooth. I have
    1,800 hours, 200 in type, commercial ticket with instrument rating.
    No AOPA/EAA/etc. discount. My premium this time is $1,300, up from
    last year (but I increased the hull value due to a paint job). The
    policy will be with Phoenix through a local independent agent that
    specializes in GA aircraft.

    So, your premium sounds like it's in the ballpark, but we need to
    know how much liability you plan to carry. Also, having "smooth"
    coverage adds a good bit to the price and some companies won't write
    such policies.

    Best regards,

    Steve Robertson
    N4732J 1967 Super III

    --- In musketeermail@yahoogroups.com, "Scott Flood" <sflood@i...>
    wrote:
    >
    > Hello,
    >
    > I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50
    hours in
    > type. My insurance renewal this year is $1,175 for a value of
    $50,000 with
    > Aircraft & Marine. I have no accidents or other adverse
    indications on my
    > license.
    >
    > As the industry locks you out from getting other independent quotes
    once
    > someone asks for an insurance quote for your plane, I would like to
    hear
    > from other MM owners if they feel this quote is reasonable.
    >
    > Thank you,
    >
    > Scott Flood
    > N6146N
    >







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  4. #4

    Insurance Cost

    Scott,

    I've got a 67 A23-24 hull insured for $57,500, full coverage on everything through Avemco for $992.00/year.

    It was running around $1,150 until getting an Instrument rating several years ago and that caused the drop to under $1,000.

    Mark
    N24TD

    ================================================== ==========
    From: "Scott Flood" <sflood@iballot.com>
    Date: 2005/12/15 Thu PM 05:44:55 CST
    To: <musketeermail@yahoogroups.com>
    Subject: [musketeermail] Insurance Cost

    Hello,

    I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    type. My insurance renewal this year is $1,175 for a value of $50,000 with
    Aircraft & Marine. I have no accidents or other adverse indications on my
    license.

    As the industry locks you out from getting other independent quotes once
    someone asks for an insurance quote for your plane, I would like to hear
    from other MM owners if they feel this quote is reasonable.

    Thank you,

    Scott Flood
    N6146N





    Join BAC today and be a part of the ONLY Type Club for the Musketeer series!

    www.beechaeroclub.org


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    ================================================== ==========




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  5. #5

    Insurance Cost

    Scott,

    There are quite a few variables. I have 1200 hours total time with 900
    hours in type with an instrument rating. I have 1 million liability with
    the 100,000 sub limit. The plane is covered at $57,000, and is
    hangared. I just received my renewal at $ 909.

    Two years ago I had 1 million smooth and the premiums were nearly over $1100.

    I guess it just depends.

    Dale Jester (IXD)
    '77 Sundowner, N24022



    At 05:44 PM 12/15/2005, Scott Flood wrote:
    >Hello,
    >
    >I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    >type. My insurance renewal this year is $1,175 for a value of $50,000 with
    >Aircraft & Marine. I have no accidents or other adverse indications on my
    >license.



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  6. #6

    Insurance Cost

    >I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    >type. My insurance renewal this year is $1,175 for a value of $50,000 with
    >Aircraft & Marine. I have no accidents or other adverse indications on my
    >license.
    >
    >As the industry locks you out from getting other independent quotes once
    >someone asks for an insurance quote for your plane, I would like to hear
    >from other MM owners if they feel this quote is reasonable.

    One can "release" the lock out by signing a statement that you want another
    broker to be able to quote the policy.

    Its very common in the industry to do this. Your preferred agent can fax
    you the form for the insurer you want to use, and you just sign it and fax
    it back.

    Bob Steward, A&P IA
    Birmingham, AL



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  7. #7

    Insurance Cost

    I have a 79 BE-23 Sundowner insured for 60k. Insurance now about $1100 but
    dropped nearly $200 with an instrument rating.

    Brent Flory
    Freedom Lawns
    N257RD
    -----Original Message-----
    From: musketeermail@yahoogroups.com [mailto:musketeermail@yahoogroups.com]
    On Behalf Of Mark
    Sent: Friday, December 16, 2005 9:30 AM
    To: SFlood@iballot.com; musketeermail@yahoogroups.com
    Subject: Re: [musketeermail] Insurance Cost

    Scott,

    I've got a 67 A23-24 hull insured for $57,500, full coverage on everything
    through Avemco for $992.00/year.

    It was running around $1,150 until getting an Instrument rating several
    years ago and that caused the drop to under $1,000.

    Mark
    N24TD

    ================================================== ==========
    From: "Scott Flood" <sflood@iballot.com>
    Date: 2005/12/15 Thu PM 05:44:55 CST
    To: <musketeermail@yahoogroups.com>
    Subject: [musketeermail] Insurance Cost

    Hello,

    I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50 hours in
    type. My insurance renewal this year is $1,175 for a value of $50,000 with
    Aircraft & Marine. I have no accidents or other adverse indications on my
    license.

    As the industry locks you out from getting other independent quotes once
    someone asks for an insurance quote for your plane, I would like to hear
    from other MM owners if they feel this quote is reasonable.

    Thank you,

    Scott Flood
    N6146N





    Join BAC today and be a part of the ONLY Type Club for the Musketeer series!

    www.beechaeroclub.org


    Yahoo! Groups Links






    ================================================== ==========





    Join BAC today and be a part of the ONLY Type Club for the Musketeer series!

    www.beechaeroclub.org


    Yahoo! Groups Links






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  8. #8

    Insurance Cost

    Ok,

    a few things to chime in about.

    If you are not happy with your agent and don't believe he or she is
    doing a good job, sign an agent of record letter (AOR) for another
    broker to get the quotes for you. You are essentially allowing the
    new broker to obtain the quotes previously released to your old
    broker. Although this is fine if you don't feel you are getting
    service from your current broker, it will not net a different quote.
    You will still receive the same rates, just from another broker.

    I would have an open dialogue with your current broker to see what
    discounts are available to you. Also see what carriers they
    approached.

    There are a total of 10 aviation underwriters, one of which is a
    direct writer (Avemco).

    It would be in your best interest to take a proactive approach to
    finding out if there are any discounts available that you may apply
    for.

    As for the premium, it really doesn't sound bad.

    Contact me off line if you have any questions.

    Ray

    --- In musketeermail@yahoogroups.com, "Scott Flood" <sflood@i...>
    wrote:
    >
    > Hello,
    >
    > I have a 1970 A24, 200 HP, Mouse, with 350 hours total time and 50
    hours in
    > type. My insurance renewal this year is $1,175 for a value of
    $50,000 with
    > Aircraft & Marine. I have no accidents or other adverse
    indications on my
    > license.
    >
    > As the industry locks you out from getting other independent
    quotes once
    > someone asks for an insurance quote for your plane, I would like
    to hear
    > from other MM owners if they feel this quote is reasonable.
    >
    > Thank you,
    >
    > Scott Flood
    > N6146N
    >







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