What's the Insurance rate for Partnerships?

Discussion in 'Flight Following' started by easik, Sep 13, 2019.

  1. easik

    easik Pre-takeoff checklist

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    I just got quoted for my airplane insurance, and I thought the quote was pretty fair. If I wanted to add a partner to the aircraft, is it more sensible to have separate individual insurance or everyone be under the same policy? what's been your experience?

    Note: Potential partner has about half the flight hours. I'm at 145 hours.

    Thanks.
     
  2. Sac Arrow

    Sac Arrow Touchdown! Greaser!

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    I didn't know individual insurance was a thing. That could get messy if third party damage occurs I would think.
     
  3. EppyGA

    EppyGA Touchdown! Greaser!

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    Either of you have IR?
     
  4. Landing Fees

    Landing Fees Pre-takeoff checklist

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    Insurance was high ($1200 - PPL/IR), I joined insurance went down ($1000 -CFI), added a third partner, insurance went up ($1600 - PPL). R182.
     
  5. bradg33

    bradg33 Cleared for Takeoff

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    I'm not sure that's even practically possible. Typically you just have one policy for the airplane and that policy is going to be written based on the least experienced pilot, but unless you're talking about an expensive and complex airplane, the rates for a 75 hour pilot and a 145 hour pilot are likely to be quite similar.
     
  6. weilke

    weilke Touchdown! Greaser! PoA Supporter

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    Most personal & business policies include up to 5 named pilots. All submit their information and the underwriter comes up with a premium based on the mix of experience. The least experienced member drives the price.
     
  7. Ravioli

    Ravioli Final Approach

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  8. Clip4

    Clip4 En-Route

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    Generally adding a partner is no big deal for a basic SEL. Get something high performance and/or with retractable gear insurance companies start penalizing when one of the partners is low time.
     
  9. Matthew Rogers

    Matthew Rogers Pre-takeoff checklist

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    We have a 3 person policy, but one of the owners has not even soloed (may never get around to it). I am the least experienced at 125h, but it was $600 last year and $600 this year with full hull value. Not great, but not bad for a $15,000 C150f. It is only $200/person/year.
     
  10. ChemGuy

    ChemGuy Cleared for Takeoff

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    I was the lowest time PPL when I was in a 4 man partnership.
    Insurance went up slightly..maybe $100/yrs until I had time in the plane. Also had to have 10hrs dual
     
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  11. flyingron

    flyingron Touchdown! Greaser!

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    Yep, they're going to base the premium on the riskiest pilot in the group.
     
  12. denverpilot

    denverpilot Tied Down

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    And if the partner has zero time in type they will usually ask for a reasonable number of hours to be flown with a CFI.
     
  13. James331

    James331 Touchdown! Greaser!

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    I’d add him to your policy, any increases pass on to him
     
  14. easik

    easik Pre-takeoff checklist

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    no both VFR pilots
     
  15. texasag93

    texasag93 Line Up and Wait

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    We have a 16 pilot group and the policy is written on the lowest time/currency pilot.

    One of our pilots has not flown in 6 years and we pay based on him.