My policy is set to renew with Global next month. Are the SR20 rates staying fixed or are all Cirrus rates going up by 40-50%?
Jim,The rate for our SR20 did not go up substantially, but our renewal was in January so your mileage may vary.Cheers,Roger
Just got rates for my April renewal (Global) on SR20. Premium went from ~$2300+ to ~$3100+, approx 35% increase.
My SR22 insurance is up for renewal next month; should be interesting.
On the other hand, my base premium went down by 70% from the first to the second year, so I suppose I ought not to complain when it goes up this time (though losing my $4M smooth will not make me happy.)
As a very recent SR22 co-owner and even more recent COPA member, I have been perusing the Forum to learn more about our fabulous aircraft from owners of long-standing. With specific regard to insurance matters; whilst you are evidently concerned at current rates and prospective increases, your rates in the USA are very attractive compared to those here in England. Although our policy requires a minimum of only 200 hours total time and 15 hours dual on type , the most competitive premium we were able to find amounted to the Sterling Pounds equivalent of $10,100
In addition we had to pay $3,000 to insure a very experienced Duluth-based ferry pilot to fly our pride and joy over to the UK. Perhaps you would provide me with a contact number for Global. I should be interested to know whether they would insure a N-Registered aircraft over here. We don’t need the 200 hours minimum clause. 500 Hours would be fine. Thanks.
I know for the SR22 most insurance companies want 500TT and an instrument rating. What do they require in order to insure an SR20?
Three pints of blood and a lien on your 1st-born son! [:D]
Seriously, my SR20 cost $2700 to cover with Global Aerospace ($225000 hull -all causes, 0 deductible; $1M smooth liability - I got in under the wire in January on the “no longer writing no-sublimits” issue.)
There are companies that will write a low time non-instrument rated pilot in a SR20. Initial factory training and annual COPA training will be required. One company in particular has been fairly competitive as well.
I am mostly interested in those of you that have had insurance for at least a year and are now renewing on an SR20 policy. If you could include your coverage and experience, that helps a lot as well.
On a side note, I have heard from two different student pilots that for solo in a 20 would cost $18K and a new Private $12K
In reply to:
Perhaps you would provide me with a contact number for Global. I should be interested to know whether they would insure a N-Registered aircraft over here.
Unfortunately, I believe a quote needs to come through an aviation insurance broker - in other words, you cannot contact Global directly in order to secure a quote. And I imagine that most brokers in the US cannot write policies in other countries.
(JT, if that’s not right, please correct - obviously you know better than I do if you can write a policy in England! [:)])
However, it appears that in the UK, things may be even easier. Global is actually a British company, and their website at http://www.gaum.co.uk/ seems to indicate that you can get an online quote if you’re in the UK.
Steve, thanks for that information. I have visited the website and my understanding is that I may only obtain a quote via a registered insurance broker. No problem - I shall contact our broker tomorow. Thanks again.