Insurance companies

DesertNomad

DesertNomad

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DesertNomad
I have been with USAIG for 3 years since I bought my plane, paying about $1300/yr.

For the renewal they want $1600... and $2200 for a $1m smooth policy.

Old Republic wants $1200 ($1m/100K) and $1600 for smooth.

Any thoughts on USAIG vs Old Republic?

My broker also quoted QBE and Starr which I've never heard of. I'm really curious why my rate is going up $300 with USAIG with zero claims.

Thanks for any thoughts.
 
DesertNomad said:
I'm really curious why my rate is going up $300 with USAIG with zero claims.
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Because they don't want you as a customer anymore! :) :) :) :) :)

(Not kidding, really... I gave up on trying to get insurance companies to give reasons for their stupidity a loooooong time ago. Agents will tell you all sorts of things and make up stories, and then couch it saying that "might" be what it is, and they're not going to tell you or transfer you to any of their actuaries or execs who make those decisions. Some don't even make decisions anymore, their computers make business decisions for them. Just leave them.)
 
My broker explained that generally all ASEL Pilot premiums went up this year due to industry wide claims made.
 
Starr is a member of the Chubb group. Plenty strong financially. QBE is an Aussie global insuror. No worries with them either. Aviation insurance risk is a pimple on the butt of these companies in terms of total book of business. I'm with US Specialty, which is a subsidiary of Tokio Fire and Marine. Huge company. My premium went up $35 this year.
 
QBE doesn't seem to do a smooth policy but will do $2m/200K for a price similar to USAIG smooth $1m.
 
I think my premium went down on both my singles. Not surprising, att is up and time in the 400 was about a hundred hours for me and well over a hundred for my partner. Shocked what it cost me to insure the 310. Hoping getting to over 100 in M/M + the commercial rating I hope to have by the end of summer will help that premium.

Jim
 
wrbix said:
My broker explained that generally all ASEL Pilot premiums went up this year due to industry wide claims made.
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My broker told me the same thing, more or less. No big deal, we requested quotes from all the major insurance companies and found someone willing to take the risk on me at roughly the same cost as I was paying before.
 
Club level insurance, no change on a fleet of 6 aircraft from last year to this year.
 
wrbix said:
My broker explained that generally all ASEL Pilot premiums went up this year due to industry wide claims made.
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Definitely not true when I renewed in November. I went a bit active with rejecting the pilot data request and they gave me the same premium. After awhile the change in risk with flight times has to go to zero. OTOH, I'm sure many aircraft were lost in the hurricanes last year. Maybe being hangared in a hurricane free zone is a good thing for rates.
 
USAIG unceremoniously dumped all the Navions that they had covered (mostly people who used USAA as a broker). Took a lot of scrambling to find a replacement. Only Avemco seemed interested in insuring the plane for what it was worth.
 
DesertNomad said:
I have been with USAIG for 3 years since I bought my plane, paying about $1300/yr.

For the renewal they want $1600... and $2200 for a $1m smooth policy.

Old Republic wants $1200 ($1m/100K) and $1600 for smooth.

Any thoughts on USAIG vs Old Republic?

My broker also quoted QBE and Starr which I've never heard of. I'm really curious why my rate is going up $300 with USAIG with zero claims.

Thanks for any thoughts.
Click to expand...

smooth ???
 
wrbix said:
My broker explained that generally all ASEL Pilot premiums went up this year due to industry wide claims made.
Click to expand...
My broker said the same thing.
We gotta remember that insurance is a money-making socialist business. We pay for others' mistakes.
I wish there was separate insurance that doesn't cover mistakes, only broken stuff. But it doesn't work like that. My retract insurance went up drastically for this year too. Broker explained that many of us forgot to put the gear down. So I'm paying much more this year for other guys' screw-ups.
So STOP screwing up, guys!! You're jacking up the bill! :mad2: :mad2: :mad2: :mad2: :mad2: :D
 
Any comments on Starr?

USAIG had me insured for $170K and now they want to renew for only $160K coverage.

Old Republic balked at coverage for Cuba and they don't cover Mexican liability either.
 
DesertNomad said:
Any comments on Starr?

USAIG had me insured for $170K and now they want to renew for only $160K coverage.

Old Republic balked at coverage for Cuba and they don't cover Mexican liability either.
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Maybe check QBE? Arthur J. Gallagher can quote them.

Are you really requiring 170k hull? I can see that as a problem.
 
Topper said:
Shocked what it cost me to insure the 310. Hoping getting to over 100 in M/M + the commercial rating I hope to have by the end of summer will help that premium.

Jim
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For whatever it's worth Jim I contacted most of the top TTCF brokers when getting my initial 310 and renewal and both times AOPA thru AIG were the best. I'm sure it varies on the specific plane and obviously the pilot but just thought I'd give you the pirep in the event you didn't contact them.
 
BigBadLou said:
My broker said the same thing.
We gotta remember that insurance is a money-making socialist business. We pay for others' mistakes.
I wish there was separate insurance that doesn't cover mistakes, only broken stuff. But it doesn't work like that. My retract insurance went up drastically for this year too. Broker explained that many of us forgot to put the gear down. So I'm paying much more this year for other guys' screw-ups.
So STOP screwing up, guys!! You're jacking up the bill! :mad2: :mad2: :mad2: :mad2: :mad2: :D
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Self insure, then you're only paying for your own mistakes.
 
I use Aviation Insurance Resources (AIR), the quote was from Star. My Sundowner rate went down.

Just purchased a Beech Debonair. Star wanted five dual and five solo and my rate $1056. No previous complex or high performance.
 
Clark1961 said:
Maybe check QBE? Arthur J. Gallagher can quote them.

Are you really requiring 170k hull? I can see that as a problem.
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QBE won't do smooth, Old Republic and AIG won't do Cuba. Thus is is down to USAIG (my current company) or Starr. As to the $170K. I can buy a good Dakota for $135K but it would take $35K to bring it up to what mine has. Starr said they would do $170K, but then so did USAIG until today. My broker is checking with Starr in regard to Cuba. USAIG said that my plane will have depreciated in the last 7 months by $10K.
 
DesertNomad said:
QBE won't do smooth, Old Republic and AIG won't do Cuba. Thus is is down to USAIG (my current company) or Starr. As to the $170K. I can buy a good Dakota for $135K but it would take $35K to bring it up to what mine has. Starr said they would do $170K, but then so did USAIG until today. My broker is checking with Starr in regard to Cuba. USAIG said that my plane will have depreciated in the last 7 months by $10K.
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QBE will do smooth. Maybe not for you but they do smooth. As for the 170K good luck.
 
Clark1961 said:
QBE will do smooth. Maybe not for you but they do smooth. As for the 170K good luck.
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If I can only get $160K coverage, than I don't have much choice although they did say I could get an appraisal. In reality, the replacement cost is pretty close to $170K for my low time, low engine time, all new avionics Dakota.
 
Yep, nobody would insure a Navion over $75K but Avemco. Avemco just wanted a list of "why I thought it was worth that much" and they accepted my description.
 
GMascelli said:
I use Aviation Insurance Resources (AIR), the quote was from Star. My Sundowner rate went down.

Just purchased a Beech Debonair. Star wanted five dual and five solo and my rate $1056. No previous complex or high performance.
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yup.....I use them also. Same rate for the last couple of years......:D
 
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