What is your insurance doing? Climbing or descending?

Dave Anderson

Line Up and Wait
Aug 31, 2021
Twice a month beside Biden's WH retreat.
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Curious about what others are seeing. I've owned for 1 year, low time pilot with an LSA my insurance just quoted and didn't move. I flew around 70 hrs last year with no accidents and nothing happened. I have close to 175 hrs

I find it insane that my insurance is staying at a nice car payment monthly but I'm sure the 165k hull value doesn't help.

Is it even worth shopping around every year? Any recommendations?
Ours is rising in line with the agreed to value which reflects market price.
I had to go with a different carrier but the cost didn't change any appreciable amount. My original carrier did not renew me for some unknown reason.
Mine’s going down by almost half! I’m switching my Cub from hull to liability only. The Cessna policy won’t change.
I raised my hull value when I renewed in June but my premium stayed exactly the same.
P&C is actually getting a slight lift from rising interest rates (ie the rates are able to come down instead of constantly increasing like in the past few years). The aircraft market is challenging though, as there aren’t a ton of insurance companies competing for business.

My premium went up less than $100 this year but I did raise the hull value slightly. For grins I had Avemco quote it and they insisted on a much higher hull and doubled my current rate. Not sure how that compared to what they would have done last year though.
As Shania Twain sings….

Up, up, up, there's no way but up from here.
Mine has decreased a super tiny fraction the last two years. I may not be the best target to study as I had a non-fault claim (Tiger destroyed on ground by hail) a few years back. They still ding you for it.
Experimental Taildragger in Alaska (New Carbon Cub).

Quote earlier this year was $33k/year premium for $350k hull coverage. I had 17 hours in type and 70 hours tailwheel and (low 5 figures total time in planes they don't care about). No accidents/claims/violations.

Quote 4 months later is $10k/year. Only difference is 104 hours in type and 157 hours tailwheel.
Down by 25% with a increase in hull value.
My insurance premium has been pretty stable for a decade. I've probably had policies with three different companies over 35+ years. I've been with the same carrier for the last 8-10 years. Some years it's down a bit, some up a bit. It went up this year about 8% with no changes in coverage, so really not outrageous given where the insurance market is now. My broker shops around a bit each year but switching carriers is usually much more expensive than staying with your current carrier. I think once your find the optimal carrier in terms of price and coverage you want, it pays to stay with them if you can. My airplane insurance bill has always been smaller than for my autos.
Down. Bought an M20J last year with about 160tt, ~10hrs in a different M20J. A year and 120 hrs later in my own plane, it dropped about a thousand; ~25%.
I started quoting a bit I got one that dropped almost 1600 but the only change is the Open Pilot policy. The requirements got tighter, but not much change. I haven't looked at a hull value change with the market conditions. That is a 20% reduction.