Why is AOPA renters insurance so much more expensive than Avemco?

nj-pilot

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I'm an IFR pilot with ~200 hours under my belt.
I'm looking for renters insurance. Nothing extravagant, just $100K hull $20K liability.
AOPA wants $950/year, and Avemco wants $400.

Seems like a huge difference between the two. Not sure why. I went with Avemco - will I regret that?
 
Are you sure you put the right numbers in the right boxes in both applications?

$20K liability seems very, very low for liability coverage, especially since it's generally the cheapest part of an aviation policy.

Hull coverage is generally the expensive item. I would expect the premium for $100,000 hull coverage to be more in line with AOPA's quote; the Avemco number just sounds way too low.
 
I found AOPA non-owner to be about the same as Avemco. But in any case, AOPA gives you $1 million of liability coverage for any person not inside your airplane, whereas Avemco limits any person injured by your airplane to $250,000. That's hugely in favor of AOPA.
 
Hmm, that's weird. My quotes were $3 different with my AOPA membership, or $19 without the AOPA. Maybe check that you had the exact same options selected on both. I can't remember which one has one of the optional items checked by default that you don't need. But just verify everything matches.
 
Thats a huge difference. I got a quote from AOPA a year or so ago. I started to give them my ratings and experience and she said it doesnt matter for enters insurance. $60,000 hull was about $700. Seemed kinda high. Did Avemco want your ratings and experience?
 
I found AOPA non-owner to be about the same as Avemco. But in any case, AOPA gives you $1 million of liability coverage for any person not inside your airplane, whereas Avemco limits any person injured by your airplane to $250,000. That's hugely in favor of AOPA.

I found AOPA non-owner to BE Avemco.

I've never contacted the latter, but that's who is on my policy.
 
@nj-pilot

Most of the aircraft I rent have no hull limit requirements, but I have 5K hull liability on my policy anyway. I also have 1 million liability and 100,000 bodily damage per passenger and I'm at $300 per year. I use AIG.

I'm a commercial 300+ hour pilot with instrument. From what I've been told, renter's insurance (non owners) doesn't care how much time you have or your pilot ratings. They are standard rates.

If you are an owner, that changes things when you get more time, etc...

The hull value is only to cover the deductible on the aircraft policy. If I took it off I'd be around $200 per year.
 
I've always found AVEMCO to be better then AOPA all the way across the board.

For normal stuff AVEMCO

Odd ball stuff Air Power Insurance.
 
I've had Avemco the last 10yrs or so. My problem is they do not cover experimental aircraft.
Most of the gliders I fly owned by others are experimental. More of my friends are getting experimental airplanes.

I'm evaluating now whether to stay with Avemco or go to AOPA.
 
I've had Avemco the last 10yrs or so. My problem is they do not cover experimental aircraft.
Most of the gliders I fly owned by others are experimental. More of my friends are getting experimental airplanes.

I'm evaluating now whether to stay with Avemco or go to AOPA.

Give these guys a call, they've done well by me with my amphib, which isn't the easiest or cheapest thing to insure, lots of war bird guys use them too.

https://www.airpowerinsurance.com
 
AOPA requotes every year. I've had both Avemco and AIG ==> and the annual has always been below $300.
(that I'm over 600 hrs might have something to do with that, I don't know ... YMMV)
 
Hoping to clear up some confusion on AOPA Renter Insurance. Nj-pilot, we don’t offer a $20k liability limit, our lowest liability limits are $200k/$50k which without hull coverage is $81 a year. JimNtexas, you are correct in stating the difference between AOPA and Avemco policies – our policy does not limit persons injured outside the plane to the sublimit, this is a very significant difference and important to understand. And while we are discussing our differences, MAKG1, AOPA and Avemco are unrelated, completely separate companies that offer different policies. AOPA is not Avemco, and vice versa! More information can be found at aopainsurance.org– or just give us a call and we’re happy to explain the products and differences in detail!
 
Jim, welcome to POA!

I need to compare policy coverage, side by side, to include gliders, experimental gliders and airplanes, both standard, restricted and experimental categories.
 
AOPA has to set aside all that $ for their pension fund requirements.
Jokes aside, the insurance market tends to gyrate quite a bit. I'm told this is due to the number of current players (i.e. companies) that enter and leave. More = less, less = more.
 
More information can be found at aopainsurance.org– or just give us a call and we’re happy to explain the products and differences in detail!
Hi Jim - Thank you for the response. Sadly, this was the result of a live discussion and an offline review. I _did_ ask for ways to reduce the rates, and the $81 option was somehow never mentioned. I've already signed up for Avemco, but maybe I'll have better luck talking to someone next year at renewal time.

Edit: You know, as I've replayed the conversation (with the AOPA rep I spoke) again in my head, I'm really disappointed to read your response. I even told her that I thought for sure rates should be lower than ~$900 annually, and that I suspected there were better rates to be found - and asked her to help me find ways to reduce. She said that was standard and was happy to let me go look at other offerings. Maybe you should answer the phones at AOPA
 
Hi Jim - Thank you for the response. Sadly, this was the result of a live discussion and an offline review. I _did_ ask for ways to reduce the rates, and the $81 option was somehow never mentioned. I've already signed up for Avemco, but maybe I'll have better luck talking to someone next year at renewal time.

Edit: You know, as I've replayed the conversation (with the AOPA rep I spoke) again in my head, I'm really disappointed to read your response. I even told her that I thought for sure rates should be lower than ~$900 annually, and that I suspected there were better rates to be found - and asked her to help me find ways to reduce. She said that was standard and was happy to let me go look at other offerings. Maybe you should answer the phones at AOPA

It sounds to me like you don't know much about insurance.
 
When I bought my first airplane about 15 years ago, I got insurance through AOPA. The next year I went elsewhere and got equal coverage for $500 less.
 
Hi Jim - Thank you for the response. Sadly, this was the result of a live discussion and an offline review. I _did_ ask for ways to reduce the rates, and the $81 option was somehow never mentioned. I've already signed up for Avemco, but maybe I'll have better luck talking to someone next year at renewal time.

Edit: You know, as I've replayed the conversation (with the AOPA rep I spoke) again in my head, I'm really disappointed to read your response. I even told her that I thought for sure rates should be lower than ~$900 annually, and that I suspected there were better rates to be found - and asked her to help me find ways to reduce. She said that was standard and was happy to let me go look at other offerings. Maybe you should answer the phones at AOPA
If you really asked for $100,000 in hull damage coverage, that $900 sounds about right. @Jim Pinegar ?
 
It sounds to me like you don't know much about customer service.

How is that? I'm not providing you any insurance. If you are saying that aopa doesn't know about customer service I'm still not sure what you mean. You got a quote for what you asked.
 
Hoping to clear up some confusion on AOPA Renter Insurance. Nj-pilot, we don’t offer a $20k liability limit, our lowest liability limits are $200k/$50k which without hull coverage is $81 a year. JimNtexas, you are correct in stating the difference between AOPA and Avemco policies – our policy does not limit persons injured outside the plane to the sublimit, this is a very significant difference and important to understand. And while we are discussing our differences, MAKG1, AOPA and Avemco are unrelated, completely separate companies that offer different policies. AOPA is not Avemco, and vice versa! More information can be found at aopainsurance.org– or just give us a call and we’re happy to explain the products and differences in detail!

What is the rationale behind not taking experience and ratings into account. There has to be a "risk" difference. If not, then why different premiums based on experience and ratings for owners?
 
I had Avemco renter insurance for a few years. As best I recall, when I bought my first airplane (a retract), Avemco quoted me a $12k premium. If they didn't want my business, it would have been more polite and professional for them to just tell me to go f*ck myself. The worst competing bid at that time was $5k, with the same limits. I'm not sure how this may influence your insurance decision, but it sure left a bad taste in my mouth about Avemco.
 
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