What are you paying for insurance?

[rrolland]

Originally Posted by PaulRX

I got one tire-kicker quote for a P337 from AIG. I gave them a $115K hull value. With 950TT, 75 retract, and 0 ME, they quoted me $4600/year. Ouch. I presume it would be lower if I had multi time, but I am wondering how much lower-- that's more than 2x what I pay per year for a three-pilot policy on a PA32 with a $150K hull value.

What are y'all paying for your policy?

Actually not a bad quote in this market given your experience. Not sure what liability limits you were quoted but here are my numbers:

P337. 150K Hull. $ 100 deductible not in motion, $ 1K deductible in motion. 1M liability/200K per seat.

Premium was $3,800.00

I have 22K hours total, with 21K on multi engines. 300 hours on type.

Richard

[PaulRX]

Originally Posted by rrolland

Actually not a bad quote in this market given your experience. ...I have 22K hours total, with 21K on multi engines. 300 hours on type.

Sheesh, in that case it's amazing they quoted me at all! If someone with your experience is still being charged $3800 for insurance, then I'll quit griping about being charged slightly more. To be clear, this is just the automated what-if "quote" that AIG produces; that doesn't mean that they'd actually write me the policy if I called them to take them up on it.

[TomM]

The hull value makes a big difference. When I got my plane last year, I had 1200 hours in a 172 and 0 in anything else (other than my IFR), let a lone a skymaster. For $1M, small deductible, $100K passenger and $47k hull I paid $2800 but needed to have 20 hrs dual and 50 takeoffs and landings - which were accomplished during my training.

This year I was thinking that since I put 110 hours on the plane last year, my rates would go down. Well, they did not. My insurer from last year wanted to raise them $250 AND have 10 hrs dual. I found an other carrier that gave me the same limits for $2830 - so ended up being only $30 more than last year. I am 53 years old.

As said below, the insurance market is a crazy animal. But the overwhelming factor will be the hull value.

A follow up note on the maintenance. I am extremely thankful for this form. I read a lot of postings on what people were paying for maintenance and annual inspections. I used that knowledge to hold off buying a skymaster for several years while I built up a cash maintenance fund. These are great plans, but they do cost to maintain so dont go into it thinking anything else. I budgeted for the first 2 years annuals to be $18K, with $12k annuals after that - first annual came in less than expected, so off to a good start. If you go into it being smart, it is a great experience!

[Learjetter]

2021: I'm going to pay about $3500 for $120k hull. $1M liability, zero deductible. Gonna ask agent about raising deductible to lower premium. I have about 4500 hours, mostly complex big jet turbine, and about 50 in my 337 that I fell into last year.

2023: Got AIG renewal quote for $3853. $120K hull, ground and flight, $1M/$100K/$5K liability, $0 deductibles, normally aspirated, with several "discounts" applied. According to the agent, I'm smack dab in the middle of what everyone else is paying. He also says AIG and other companies are "getting out" of the "older ME" market and no longer quoting the older multiengine aircraft, and especially not 337s.

[patrolpilot]

Mine is attached, not a P, mouth breather.