Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I’m not surprised. One SR20 & one SR22
has been totaled. Most insureance companies covering Cirrus aircraft now are probably holding their breaths till renewal time… then, all of us who presently have reasonable rates ($3650) will be paying much higher rates.
Good Luck!
Dan
Bruce and partner,
Paying 3x for insurance is certainly painful, but I don’t think it is unreasonable in this case. Let me explain why.
You don’t say whether or not you have instrument ratings, but my guess is that given the low hours and the high rate, that at least one of you does not have the rating.
Given the risk of low-time, non instrument-rated pilots flying high performance a/c, I think $10k/year is a good deal. I don’t mean any disrespect for your flying ability. Remember that the insurance company doesn’t know who you are or how you fly. They just know that you have 150 hours (and I’m assuming no instrument rating) and they know what happens with what frequency when people with that profile own and fly high perforamance airplanes.
I suggest paying the premium this year and, if you don’t already have it, getting your instrument rating before the policy year is up. An instrument rating will not only allow you to fly in more conditions, but it will also make you a better VFR pilot (getting a commercial license I think also makes one a better VFR pilot, though I think it has zero effect on insurance rates).
What carrier quoted you the $10k/year? I have USAIG for $3500/year, but I don’t think they’ll insure non instrument-rated pilots.
Good luck with your new airplane!
Robert Bedichek
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I had 120hrs when my insurance was bound, and its $6600 for 1M/100K. That was bound before the recent 22 accident.
I’m told I can get smooth coverage with 300hrs & the instrument ticket, which I should have by the end of the year.
-Curt
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
Just renewed my policy through AOPA with USAIG. SR20 serial no. 71. Instrument rated, 800 hrs. with 150 in Cirrus. $2375. $200K hull, $1 million liability. not smooth.
Quote
SR20 - $215,000 Hull $1,000,000 Single
limit - not smooth - 9000+ Hours ATP
no other operators - $2,220 AOPA
May not help for this year but COPA is
working on it as fast as we can. Keep the
wheels on the runway and the oily side down.
Not necesarily the case; just got my renewal policy for 163CD. It’s under $3000 for one million smooth. Very reasonable!
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I’m not surprised. One SR20 & one SR22
has been totaled. Most insureance companies covering Cirrus aircraft now are probably holding their breaths till renewal time… then, all of us who presently have reasonable rates ($3650) will be paying much higher rates.
Good Luck!
Dan
Not necesarily the case; just got my renewal policy for 163CD. It’s under $3000 for one million smooth. Very reasonable!
I agree. Mine renewed this month and went down 10% to $3019 but still couldn’t get smooth coverage.
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I’m not surprised. One SR20 & one SR22
has been totaled. Most insureance companies covering Cirrus aircraft now are probably holding their breaths till renewal time… then, all of us who presently have reasonable rates ($3650) will be paying much higher rates.
Good Luck!
Dan
Not necesarily the case; just got my renewal policy for 163CD. It’s under $3000 for one million smooth. Very reasonable!
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I’m not surprised. One SR20 & one SR22
has been totaled. Most insureance companies covering Cirrus aircraft now are probably holding their breaths till renewal time… then, all of us who presently have reasonable rates ($3650) will be paying much higher rates.
Good Luck!
Dan
Dave and I went from a 20 to a 22 and the premium went up $200.00…Ed
Not necesarily the case; just got my renewal policy for 163CD. It’s under $3000 for one million smooth. Very reasonable!
I agree. Mine renewed this month and went down 10% to $3019 but still couldn’t get smooth coverage.
Quote for two private pilots w/150 hrs. each(from AOPA) almost10K (SR22). HELP please! Avemco won’t even quote. Thanks.
I’m not surprised. One SR20 & one SR22
has been totaled. Most insureance companies covering Cirrus aircraft now are probably holding their breaths till renewal time… then, all of us who presently have reasonable rates ($3650) will be paying much higher rates.
Good Luck!
Dan
I just got my renewal for $2550, the same as last year.
Doug Powell
Robert,
What policy limits do you have (smooth or sublimits) and how much is the hull coverage? $3,500 is the best SR22 premium I have seen.
Jim
What carrier quoted you the $10k/year? I have USAIG for $3500/year, but I don’t think they’ll insure non instrument-rated pilots.
Robert Bedichek
$300k hull, no deductible, $1m smooth liability.
USAIG through AOPA. >500 hours, commercial/multi/instrument. I have another $2m liability through another carrier for an additional $2k.
The $3,500 is fairly standard from USAIG, I think.
Robert,
What policy limits do you have (smooth or sublimits) and how much is the hull coverage? $3,500 is the best SR22 premium I have seen.
Jim
What carrier quoted you the $10k/year? I have USAIG for $3500/year, but I don’t think they’ll insure non instrument-rated pilots.
Robert Bedichek
As a newby to all this insurance stuff, what does the term “smooth” mean in regarding the insurance policy?
“Smooth” refers to the elimination of per-passenger sublimits on the coverage.
Let’s say the insurance is, for example, $1,000,000 per occurance, with $100,000 sublimit per person. If you get into an accident and injure two people, the insurance company would only pay up to $100,000 to each of the injured people. The other $800,000 would not be paid.
On the other hand, if you have $1,000,000 “smooth”, meaning no sublimits, and the same scenario occurs, then the insurance company should pay up to $1,000,000 total (split between the people you injured of course).
This refers to the liability limits, not the hull.
Gordon
As a newby to all this insurance stuff, what does the term “smooth” mean in regarding the insurance policy?