Insurance going up?

Discussion in 'Flight Following' started by Grum.Man, Jun 13, 2019 at 6:00 PM.

  1. Grum.Man

    Grum.Man Pattern Altitude

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    Just curious if anyone else that owns a plane has had their insurance continually go up despite more flight hours and ratings?? Mine has gone up like 350.00 over 3 years despite having 350 hours in the airplane and adding my Instrument, And commercial rating. I had like 165 hours when I first got coverage now I’m at almost 600 total and my premium just went up another 100.00.
     
  2. mondtster

    mondtster Pattern Altitude

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    Overall, insurance seems to be going up. I've heard a number of people making similar comments including some who are insurance brokers. Insurance has been cheap and the ability to get insured has been easy for quite a while now, it seems as though things are headed the other way again.

    I have no personal experience at the moment, my airplane and projects are uninsured.
     
  3. Timbeck2

    Timbeck2 Final Approach

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    Mine has gone down every year.
     
  4. simtech

    simtech En-Route PoA Supporter

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    Mine too has gone down every year..
     
  5. Jumpmaster

    Jumpmaster Pre-takeoff checklist

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    Mine has gone up about $200 this year. More hours in the plane and no claims or claim history in plane, autos, motorcycle or homeowners and strong credit score. My broker told me they were seeing across the board rate increases, despite claims history, hours or ratings. Makes me wonder if it’s just a regional thing (PNW), a “type” thing (1991 AG5B Tiger), a “high wing vs. low wing” thing (low wing) or its just the limited marketplace maximizing profits.
     
  6. Rgbeard

    Rgbeard Line Up and Wait

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    My broker told me the commercial rating would do zero to my renewal.
     
  7. chartbundle

    chartbundle Cleared for Takeoff

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    Looks like I went up $300 with 0 hours over the past 12 months and an increase in value from $132k to $145k(due to the newly overhauled engine... sigh)
     
  8. Rgbeard

    Rgbeard Line Up and Wait

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    Zero hours of flight time in 12 months??
     
  9. chartbundle

    chartbundle Cleared for Takeoff

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    See also the thread: So my Airplane Engine was in a Car Accident...(paraphrasing slightly)
     
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  10. Rgbeard

    Rgbeard Line Up and Wait

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    Ah, there’s the “more to the story” part I was missing. Thanks.
     
  11. GRG55

    GRG55 Final Approach

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    Mine has gone up about 4% per year +/- every year on the Aztec.

    Haven't had the Husky for a year yet, so not sure what the pattern will be there, but as a taildragger with a low time tailwheel pilot it is more expensive than the twin. So I am hoping for a reduction once I get a 100 or 200 hours in it. But my instincts are telling me that may be a vain hope.
     
  12. mondtster

    mondtster Pattern Altitude

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    I suspect type is a contributing factor. Even within the posters on this thread, those whom I know have more unique airplanes (twins, taildraggers, high(er) performance, etc.) are reporting increases. Accident/claim history on a type of aircraft seems to contribute as well. As far as insurance company profits go, I've been told that there have been a lot of claims/payouts the past few years which are causing the increase. Not sure if that is true or not, just what I've been told.
     
  13. hindsight2020

    hindsight2020 En-Route

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    it's not you, it's your one-off experimental contraption bud. No free lunch in life. My Arrow keeps going down in rate for instance, as has been for those owners of high volume/proliferation trainer aircraft who already piped up in the thread. Life's full of opportunity costs.

    At least you can go 200+ knots on a pittance gas wise, and drive an autopilot with a consumer grade tablet if you wanted to.
     
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  14. SixPapaCharlie

    SixPapaCharlie May the force be with you

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    Unchanged on the Cirrus and down on the grumman.
     
  15. bnt83

    bnt83 Final Approach PoA Supporter

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    went down on the 177FG
     
  16. Velocity173

    Velocity173 Touchdown! Greaser! PoA Supporter

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    Yep. Mine went up a couple years after I bought it. “Because of a rash of Velocity accidents.” One dude crashed into a house in Vegas and mine went up $400. I’ve been on Liability ever since. I might add hull back in this year if they’re reasonable.
     
  17. Skymac

    Skymac Pre-Flight

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    Goes down every year.

    8KCAB 900TT around 200TT tailwheel with CFI Rating
     
  18. idahoflier

    idahoflier Line Up and Wait

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    Mine went down exactly $1...
     
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  19. Huckster79

    Huckster79 Line Up and Wait

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    Reminds me of that insurance ad with the old man dangling that dollar bill from a fish pole to his customers
     
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