Insurance Question

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milesdr1m

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milesdr1m
I an a low hour Private pilot and just getting current again after 30yrs off. I was looking at options, has anyone had problems getting insurance after buying a plane? I am a EAA member but not AOPA if that makes a difference.
 
Never a problem if you have enough money for the ridiculously high premiums
 
Depends on the plane. Run of the mill Piper or Cessna are easy to insure through any one of several brokers. If you ask for recommendations here I think several will be suggested. No membership required.
 
As John and Clark both hint at, common and "simple" aircraft are easy to get get policies written for low time pilots.

But as the complexity of the aircraft increases, the number of underwriters willing to do the policy shrinks quickly, and the cost of the premiums also rise quickly.

But, as the silver lining, the more time in type you acquire as well as advanced ratings will aid in bringing the policies back to a reasonable level.
 
In addition to AOPA and EAA and Avemco, if you join your make/model type club (Cessna PIlots Association, Bonanza Society, etc) they usually have a prefered agent and decent rates. Also, you can look into a completely independent agent such as the folks at Sutton James, who, like the independents who write homeowners, auto, etc, will shop the best rates and coverages for you.
 
Thanks, I guess I have to figure out if I can afford insurance then.
 
Call Gallagher and tell them your experience and potential plane(s).

Leah Ringeisen - Account Executive
Gallagher Aviation
Formerly NationAir Aviation Insurance
Arthur J. Gallagher Risk Management Services, Inc.
Direct: 877-520-6247| Fax: 636-532-3646
www.ajg.com/lightaircraft / www.ajg.co
 
Make sure you have an instructor lined up with plenty of time in the make and model you are planning to buy. Even airplanes like Grumman Yankee's can be difficult to find instructors for that the insurance will cover to get you checked out in it.
 
It was almost easier for me to find and afford my plane than find and afford the accompanying insurance
 
The more complex,or faster the airplane the more your going to pay. You won’t know untill you get some quotes.
 
Ravioli said:
Call Gallagher and tell them your experience and potential plane(s).

Leah Ringeisen - Account Executive
Gallagher Aviation
Formerly NationAir Aviation Insurance
Arthur J. Gallagher Risk Management Services, Inc.
Direct: 877-520-6247| Fax: 636-532-3646
www.ajg.com/lightaircraft / www.ajg.co
Click to expand...

Gallagher....there are options.

Call TJ @ Airpower or Tom @ Wings Insurance. Both are top notch and have great markets.

Only call aopa insurance if Tom and TJ can't help.
 
milesdr1m said:
I an a low hour Private pilot and just getting current again after 30yrs off. I was looking at options, has anyone had problems getting insurance after buying a plane? I am a EAA member but not AOPA if that makes a difference.
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Yes!

Problem: not a common aircraft
Problem: Its a 2 seater. But, its weight limited to the point I would've had problems finding a CFI current in the model who wouldn't be too heavy.
Problem: Everyone wanted me to have at least some hours in the same model, or a checkout from a CFI who was current in the model

Solution: I flew it uninsured for 10 hours (oh horror of horrors)!!!

Flame suit on, blast away all you very smart and careful people!
 
Wait a minute! My airplane insurance has always been LESS than the insurance on a similarly priced auto.
 
Two recent data points for you.

My brother got his license in the 70s but only has 250 hours and maybe 20 in the last 10 years. He had no problem insuring his $75,000 Arrow. Premium of $1,700/year. He needed 5 hours dual and 5 hours solo before he can carry passengers. I have lots of retract time but only have a couple of hours in an Arrow and I need 5 hours dual as well, so that seems to be a fairly common restriction.

A guy who got his license in my Cherokee with 110 hours was considering a C182 or Dakota and the insurance was not a problem. He even checked out a Bonanza and the premium was a bit higher, but lots of companies were willing to insure him. I have lots of 182 and Cherokee time so I can be added to the insurance with no additional premium or dual time.

I had very little retract time when we bought the 210 and 300 hours and the only restriction was that I get 10 hours dual. Some companies were not willing to insure me without an instrument rating and the one we picked charged more than if I had one—but only around $300 more.

Like other people have said, agents are a better source of info than random people on the net, but you shouldn’t have any problems getting insurance for most planes.
 
Fearless Tower said:
What airplane?
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John got himself a very nice late model Cessna Turbo 210

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When I bought my Yankee, the insurance company wanted 5 hours dual in it. I had about 250tt, divided between PA28s, C172s, and C182s at the time. The premium was not too bad, about a half an AMU.
Call Baxter Allen at Falcon insurance, he can hook you up.
 
milesdr1m said:
I an a low hour Private pilot and just getting current again after 30yrs off. I was looking at options, has anyone had problems getting insurance after buying a plane? I am a EAA member but not AOPA if that makes a difference.
Click to expand...
I'm aopa and eaa member, it was cheaper on the open market than any company associated with either. Just got insurance for a Mooney m20c last month, about $900 for $50000 hull. Galleger? Seems to have best rates have used them for years and even had a claim when a tornado totalled my 182.
 
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