Insurance prices for general aviation

[philippevd]

Hi,

I currently own a Grumman Cheetah, and am looking around for ways to make flying even more enjoyable by reducing some of the costs . I currently have a 1000 euro / year insurance premium for third party and 3 passengers, but no hull, with a German company (Peter Braasch). Is this a competitive price, or are there better deals out there?

Cheers

Philippe

[Jan Olieslagers]

Philippe, since you are Belgian based, you could get in touch with Messrs. FinServe at Antwerp Airport - they are brokers just like (I believe) Mr. Braasch. ISTR they work with the one well-known aviation insurer in Belgium, but also with at least one French company.

Perhaps it doesn't matter much, but is your plane OO-registered?

[philippevd]

Hi Jan, my Grumman is November

[ChickenHouse]

Don't know the odds of November, but have you been in contact with Allianz? It has a bad reputation - if your counterpart is insured there, but rates I heard are much lower compared to the big one you quote.

[Small Rodent Driver]

May be worth having a look at the UK Visicover website. Not sure if they do N reg a/c but certainly worth asking the question.

They are a breath of fresh air to UK a/c insurance.

SRD

[Bob Upanddown]

My experience is that it is usual to be insured by a company in your country of residence, the state of registry does not affect this.
I have tried insuring November based in Europe through AOPA in the USA but they don't want to know. I have tried insuring through German brokers for an aircraft based in UK with a similar result.
Having said that, the Sirius in Denmark seem to insure all over Europe.

I am very sceptical of firms who appear to undercut the opposition by a "wow-factor". There is a reason why the established firms are just that, established. They charge premiums that are sufficient for them to survive and continue to provide insurance. There have been too many that have sprung up with very low rates then disappeared leaving people to go back to the established companies

[Bob Bevan]

In answer to the question from SRD, they can certainly accommodate N regs (or other regs for that matter) although at present the policyholder must be a UK resident.

In answer to the point from Bob Upandown, it is important to identify how the price reductions come about. If it is by simply slashing rates then the loss ratio will come back and bite you. However if it is because of a different business model (i.e. online self service as oppose to traditional broker), then low prices are sustainable.

Cheers,

Bob

[maxred]

I had just renewed at the end of May, when Bob, quoted for me. His service was excellent, and the premium was quite a bit below what I had just paid.

Needless to say I will visit him when the quote comes up for renewal next year.

All good as far as I can see...........

No reason why lower premiums, with a lower cost base cannot be sustainable.

Just look at the loco airlines.