Hello- I am new to this forum. Sorry if this is in the wrong location. I am asking for recommendations of credible insurance companies to use for a Piper Seneca. I have spoken with Avemco- they are very nice and cordial- just checking to see if there are other recommended companies out there.
Insurance Companies
- Thread starter CBH
- Start date
ArrowFlyer86
Pattern Altitude
- Joined
- Jul 17, 2019
- Messages
- 1,593
- Location
- Chicago suburbs
- Display Name
Display name:
The Little Arrow That Could
I ended up using AVEMCO but BWI (broker) was responsive and helpful.
I just insured a Seneca 3. I got quoted by STARR, IAT, and USAIG. IAT wanted an annual Flight Review in make/model, no contingencies from the other 2. STARR had the best offer and I went with them. Interestingly, AVEMCO would not quote me. Insurance is a mystical beast. Used AssuredPartners Aerospace (AOPA) for my broker.
Last edited:
There are basically 2 options for aircraft insurance:
1) Brokered policies from underwriters that don't deal directly with the public; and
2) Avemco, which is a direct underwriter.
When someone says "call so and so at X insurance agency," they're directing you to a broker. Most good brokers have access to the exact same pool of underwriters. And the premiums generally should be the same regardless of which broker you use. The only "advantage" some brokers have is simply being better at negotiating things like experience and training requirements. A broker with a particularly good relationship with a specific underwriter, or that's just very good at sweet-talking underwriters, may be able to secure you more favorable training requirements than another broker, but the rates will likely be the same.
Avemco tends to be on the expensive side, is pretty inflexible in generally, but will occasionally insure in a situation where the traditional underwriters won't (like older twins, etc.).
1) Brokered policies from underwriters that don't deal directly with the public; and
2) Avemco, which is a direct underwriter.
When someone says "call so and so at X insurance agency," they're directing you to a broker. Most good brokers have access to the exact same pool of underwriters. And the premiums generally should be the same regardless of which broker you use. The only "advantage" some brokers have is simply being better at negotiating things like experience and training requirements. A broker with a particularly good relationship with a specific underwriter, or that's just very good at sweet-talking underwriters, may be able to secure you more favorable training requirements than another broker, but the rates will likely be the same.
Avemco tends to be on the expensive side, is pretty inflexible in generally, but will occasionally insure in a situation where the traditional underwriters won't (like older twins, etc.).
WDD
Final Approach
- Joined
- Oct 16, 2019
- Messages
- 5,424
- Location
- Atlanta / KRYY
- Display Name
Display name:
Vintage Snazzy (so my adult children say)
Assured Partners gave me a quote the next day after shopping it around a few underwriters.
I called Avemco and it was nearly double for slightly less coverage. This is all for a Skylane. Insurance is odd indeed.
I called Avemco and it was nearly double for slightly less coverage. This is all for a Skylane. Insurance is odd indeed.
Maxnr
Line Up and Wait
I insured with Avemco some years ago. I was a working pilot at the time with an ATP and flight time in the five digits. And a spotless record. I thought that premiums were ok. A hurricane came ashore in my part of FL and my ship was in a T-hangar. My wife wanted to get out of town and we left. We came back after all clear and went directly to the house. The plane could wait. House OK. Then I got a call from Avemco. He was at the airport and said my ship was totaled. I headed for the airport. The heavy winds (100+) came in from the south. ALL hanger doors facing south were blown in. Doors on the north side ok. Nothing restraining the bottom of the doors. The big steel doors were draped over of all the planes.
Avemco man gave me a chance to salvage parts or avionics. I told him to haul it away as she sits. Got a check in a real short time.
I don't recall the premiums, but they were reasonable. Service was lightning fast. The plane was a flyable project and I was in progress of upgrading her when the hurricane hit.
Bravo Avemco.
Avemco man gave me a chance to salvage parts or avionics. I told him to haul it away as she sits. Got a check in a real short time.
I don't recall the premiums, but they were reasonable. Service was lightning fast. The plane was a flyable project and I was in progress of upgrading her when the hurricane hit.
Bravo Avemco.
I used to insure with Falcon, then the big blow hit sun n fun and a lot of airplanes were damaged. The next year my Falcon quote was way up, almost double! AVEMCO was more reasonable so I went with them. The agent told me their rates had not changed. He said their rates were proper in the first place and the sun n fun big blow hadn't hurt them like it did the other companies.
Pinecone
En-Route
Falcon is a broker. They do not set the rates for insurance, they just shop the actual insurance companies.
Sometimes AVEMCO is cheaper, sometimes they are not.
But one thing, you cannot shop brokers. Once a broker gets quotes for an N number, the companies will not quote (or same quote) for any other broker.
I use Falcon (insured with Starr) for my Mooney. I went with Parker for my CAP-10 and he did a great job.
Sometimes AVEMCO is cheaper, sometimes they are not.
But one thing, you cannot shop brokers. Once a broker gets quotes for an N number, the companies will not quote (or same quote) for any other broker.
I use Falcon (insured with Starr) for my Mooney. I went with Parker for my CAP-10 and he did a great job.
WDD
Final Approach
- Joined
- Oct 16, 2019
- Messages
- 5,424
- Location
- Atlanta / KRYY
- Display Name
Display name:
Vintage Snazzy (so my adult children say)
That - I did not know. So you only get one go at getting insurance quotes (if using a broker vs direct)?
sort of. . if you are serious, and you've already done this - the broker has to be willing to get you to docusign (or fax sign) to change the "broker of record" at all the places he plans on getting you a quote, and then wait for them to correct and edit it in the system. Technically I think the original quoting broker might even be able to block it, but thats a dickish thing to do. Its a pain in the ass to do, so if its a smaller amount - might not even be worth the additional hassle.
In terms of getting insurance - you do have another option. You can search through on controller, find a similar plane that you are interested in finding the insurance for - and have them quote based on that tail number. I believe the exclusivity is based on tail number and not the actual pilot. So that might get you around the system. Though it might just be best to get with the broker you want. Shopping around doesnt do too much these days - though if you are dicey for insurance, it might be the difference between insurance agents insuring and not insuring. This is particularly the case for some brokers who specialize in certain markets (like say Cirrus, or pressurized Pipers, twin cessnas etc).
And avemco is completely different as they are direct to and no brokers at all. Avemco sometimes is good, sometimes they wont even quote.
Chip Sylverne
Final Approach
- Joined
- Jun 17, 2006
- Messages
- 5,905
- Display Name
Display name:
Quit with the negative waves, man.
AVEMCO likes what they rate as category A and B aircraft, low-powered taildraggers like Aeroncas and Cubs and such, and fixed-gear under 200hp. That's where they can be most competitive. HP, complex and multi they may underwrite but usually at a higher premium than other companies.