View Full Version : Reasonable Insurance Costs
Romydog
3rd May 2007, 21:39
I currently pay £2.5k a year for a PA 28 Arrow - can anyone recommend a good and hopefully lower cost insurance company!
:ok:
owenlars
4th May 2007, 12:56
Sounds like a good deal to me. We pay a bit North of £3k for a PA32 300 and have had a good look around. Nearly all the brokers go to the same underwriter as far as I can see so there doesn't seem to be that much choice.
Mariner9
4th May 2007, 14:01
I have heard that these Belgian insurers (http://www.verspieren.com/verspieren/x-net/internet-institutionnel/accueil.3046.html) are very competitive. (Insurance placed anywhere within the EC would comply with legal requirements). Their website's in French, and haven't asked them for a quote yet myself so can't confirm anything. If you do try them, would be great if you could post some feedback here :ok:
Mike Cross
4th May 2007, 15:35
It's about 1k for a Luscombe! :ok:
Is 1k cheap or expensive?
I pay just under £3k for a SEP with an agreed-value hull cover of £195k. This is a single named pilot only, business and private, FAA PPL/IR, 700+hrs, done via Hall & Clarke. It would come down a lot for a lower hull value. It will probably come down more when I get the CPL done.
Mike Cross
4th May 2007, 22:00
Well, we like to think it's expensive and would prefer it to be around the 800 mark. I dare say we could do just us much damage to yours though by running into it as you could do by driving it into a brick wall. Maybe the hull value of what you might hit is a factor in the calculation? (certainly seems to figure in the MoD's)
The 3rd party cover is the limiting factor; you don't need to insure the hull at all.
It's easy to taxi into another plane, and they will just love to have a brand new £50k wing while they are at it, thank you very much...
I think practically all liability in GA is to do with driving around on the ground, plus passengers.
Kiltie
5th May 2007, 09:17
Interestingly Haywards could not have cared a jot that I offered to impose a minimum total flying hours of 5000 per pilot, ATPL holders only. Their risk was based purely on total piston engine time. At the moment I pay 2.5k for an 80k hull value and minimum 500hrs piston engine pilot experience. Raising that limit to 1000hrs minimum experience would lower the premium to around £2.2k.
niknak
5th May 2007, 13:11
Interesting one this, I had a word with a buddy who is the boat insurance business, (his firm also insures high value anything but marine is his speciality).
He told me that with such things as privately owned/operated light aircraft and boats, the premium is usually around 10% of the sum they would pay out in the event of a total loss.
"Such vessels operated by professionally qualified crews are subject to much lower premiums".
There you have it.
Try Haywards Aviation at www.haywards.net (http://www.haywards.net)
the premium is usually around 10% of the sum they would pay out in the event of a total loss.
My premium is just 1.5% of the total loss payout - assuming no claim from passengers or 3rd parties.
A 10% premium is extremely high and shows something is very wrong. I've heard of 10-20% premiums on satellite launches.
Very true about disregarding TT for an ATP and looking at piston time only; I can confirm that and it makes sense.
I don't see a much lower premium if I had 10k piston hours and an ATPL - maybe 30% off. I know a CPL won't get me more than 5%-10% or so.