So I called AOPA two weeks ago, they finally came back with a quote.
$5k deductable, 250+ hr IFR rated pilot, required to attend wings aloft training, $6735/year.
Cough! Cough.
Suggestions?
I received an insurance quote a couple months ago on the SR22 of $5295/year for a 200 hour IFR rated pilot. They also required 10 hours of Wings Aloft training (which I planned on doing anyway).
So I called AOPA two weeks ago, they finally came back with a quote.
$5k deductable, 250+ hr IFR rated pilot, required to attend wings aloft training, $6735/year.
Cough! Cough.
Suggestions?
So I called AOPA two weeks ago, they finally came back with a quote.
$5k deductable, 250+ hr IFR rated pilot, required to attend wings aloft training, $6735/year.
Cough! Cough.
Suggestions?
Ouch! I am using AOPA on my C182. Full coverage on it with a $40k hull value, zero deductible, commercial, multi, instrument and about 1800 hours is $825 a year.
I asked for a quote from AOPA on the sr20/22. A SR 20 with my time and a $240k hull value currently runs $3400 –3600. They are unable to quote the SR22 yet because the underwriters don’t have all of the facts. The agent said to expect somewhat higher because of the increased hull value.
She also said that only 3 companies are writing the policies on the SR20 at this point. The market is likely to become more competitive when more fleet time statistics have accumulated. The price will probably come down if no one crashes!
Good luck
Scott Condon
Sisters, Oregon
SR22
Just a thought! What if we were self-insured? Assume for a moment that each SR20 or SR22 owner paid a flat fee of $2500 per year with standard industry deductibles to the SR20 Organization (Insurance Fund, Inc). At a customer base of 600 aircraft, that could generate $1.5 million/year.
Of course those of us that don’t have our Cirrus yet won’t want to contribute now but once we have 400 to 600 of them flying, it may be something to consider.
As time passes and one of the major insurance companies wins our business back as a group so we get the best rate, we can take the reserve from our self-insured fund and sponser the grandest fly-in the world has ever seen, or buy stock for each member in Cirrus.
Maybe someone out there is in the insurance business and can take this silly idea to the next step.
Suggestions?
Just a thought! What if we were self-insured? Assume for a moment that each SR20 or SR22 owner paid a flat fee of $2500 per year with standard industry deductibles to the SR20 Organization (Insurance Fund, Inc). At a customer base of 600 aircraft, that could generate $1.5 million/year.
Of course those of us that don’t have our Cirrus yet won’t want to contribute now but once we have 400 to 600 of them flying, it may be something to consider.
As time passes and one of the major insurance companies wins our business back as a group so we get the best rate, we can take the reserve from our self-insured fund and sponser the grandest fly-in the world has ever seen, or buy stock for each member in Cirrus.
Maybe someone out there is in the insurance business and can take this silly idea to the next step.
Suggestions?
Are you nuts? Sorry, couldn’t resist. Your suggestion sounds good and has some merit, but I have several concerns with it.
First, why do you think that if competitive insurance companies can’t quote ratwes like that profitably, that it would work for us?
Secondly, when I shop for insurance, I look for the companies credit rating and service histories. Your plan offers neither a good rating nor any specific service history. I’d hate to risk my financial well being on a company that could survive on or maybe two claims.
Third, while it is clear that the SR20/22’s lack of claims history results in higher premiums than we believe appropriate, that is one of the risks we take for being an ‘early adaptor/adopter.’ After a year or two of experience, I’m sure that the rates will come down to realistic levels, at least for those of us whou have more than a couple hundred hours and myabe a IFR rating.
Meanwhile, I was quoted about $3,000 for the SR20 and about $4,500 for the SR22. While not great, they are certainaly not ridiculous given the hull value.
Marty SR22 # 20
So I called AOPA two weeks ago, they finally came back with a quote.
$5k deductable, 250+ hr IFR rated pilot, required to attend wings aloft training, $6735/year.
Cough! Cough.
Suggestions?
Ouch! I am using AOPA on my C182. Full coverage on it with a $40k hull value, zero deductible, commercial, multi, instrument and about 1800 hours is $825 a year.
I asked for a quote from AOPA on the sr20/22. A SR 20 with my time and a $240k hull value currently runs $3400 –3600. They are unable to quote the SR22 yet because the underwriters don’t have all of the facts. The agent said to expect somewhat higher because of the increased hull value.
She also said that only 3 companies are writing the policies on the SR20 at this point. The market is likely to become more competitive when more fleet time statistics have accumulated. The price will probably come down if no one crashes!
Good luck
Scott Condon
Sisters, Oregon
SR22