Increase by about 15%. Same insurer (Axa).
Basically no offers available for what I need at the same price or below.
Right now of course the insurance will need to cover my engine / prop incident.
Is 3rd party only (liability only) cover significantly less expensive? With the rapid increase of insurance prices – with aerotowing cover my insurance for one year is getting to be over 10% of the hull value, which is basically the insurance company saying “We bet you’ll wreck your plane as a total write-off within the next 12 years or so”. I think this is a bet I can win, I think I am reasonably able to not wreck the plane in that time period, so if liability only is significantly cheaper, I’m quite happy to not have any hull cover.
My aéroclub is auto-assuré (self-insured). Even with a few claims, over ~100 years it has saved a fortune. The key point is to not spend the saved insurance premiums. The only time they have hull insurance is when buying a brand new plane, which is infrequent and quickly depreciates.
Mine is 2.8% of hull value; we’ll see what happens at renewal. I’m not brave enough to self-insure, but at 10% I see your point.
You must have 3rd party, surely?
Hull cover is indeed debatable. It does make a big difference to the premium, especially if you insure for a today-realistic replacement value. My insurance has not really gone up, although recently I moved to Visicover which was a lot cheaper than Haywards who I was with for many years and was totally happy with until a large increase at which point I moved.
I pay about 1.5k for a 195k agreed hull value (~3k hrs CPL/IR) on the 2002 TB20.
Yes, they have 3rd party (sorry, I should have made this clear)
Upon renewal, my insurance is asking what CSL limit I would like to insure, 6 m€ or 9 m€. Aircraft is an SR22.
Is there any practical reason to go for 9 instead of 6, (and accept the higher premium)? Unless some European countries or airports require more than 6, I would to stick with 6. Comments?
UK Military airports (e.g. Gibraltar, Conigsby) do require +7.5m£ insurance to operate, they are keen on having the actual insurance paper emailed for PPR on N-reg…
My club is planning to buy an Evektor Sportstar RTC type aircraft, possible a new one. We asked our insurance company for a quote for budget purposes and was given an offer that had more than three times the premium of our Cessna 172S, even though the insured hull value was slightly less than for the Cessna. After we clarified that all pilots would have at least a LAPL (the Evektor Sportstar RTC is not an UL aircraft) the offered premium dropped to a bit to “only” a bit more than twice the premium of the Cessna.
I though this was completely outrageous but the insurance company said it was because of differences in accident statistics for UL/LSA compared to part-23 aircraft.
Is it common for insurance companies to price LSA aircraft insurance like this or should we try another company? The one we have is quite good, so we would rather stay with it.
I’d inquire with [email protected]
I though this was completely outrageous but the insurance company said it was because of differences in accident statistics for UL/LSA compared to part-23 aircraft.Is it common for insurance companies to price LSA aircraft insurance like this or should we try another company? The one we have is quite good, so we would rather stay with it.
The new types are outside the stats radar, I heard someone getting 6k€/year for Risen while a similar guy with his experience pays 2500€/year for an Ovation
Lot of 600kg ULM and certified LSA are now priced in high risk buckets against high hull-values…
