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#1
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Insurance company recommendation?
Anyone care to recommend which insurance company they're with for aircraft
ownership? I've gotten a few quotes, so far the lowest has been through AOPA and their process. But I wasn't too impressed with their payment options. They either want the entire annual premium up front or a large bulk up front then either montly or quarterly payments with finance charges. On top of that they won't accept a credit card as method of payment. Anyone using a company this has more payment friendly options? Thanks. |
#2
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Insurance company recommendation?
You don't normally price insurance co's you usually go through a broker
who does that for you. There are really only two options. 1) Broker or 2) AvemCo. AOPA is a broker. All brokers will quote you the SAME rate. The insurance co's have an agreement that they will give the same quote to any two brokers who ask to quote the same person. In fact, if you call a broker and tell them you already got a quote from another, they won't even work with you. My broker choose AIG for me and it seems to work well. If you are a "transition" pilot you will have a "transition" company (i.e. you buy a Mooney but don't have retract time yet). Once you have lots of time in your plane you will go with a regular company. |
#3
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Insurance company recommendation?
We use AIG through AOPA and they seem to be OK. We are just now going
into our second year with them. Our premium went down about 10% because of going from no-time in the Mooney to some-time in the Mooney. As far as the financing of the premium goes I don't really know about that. We pay a year up fromt. But it seems to me that most insurance companies "charge" something for spreading out the premium. Jon Kraus '79 Mooney 201 4443H @ TYQ John Doe wrote: Anyone care to recommend which insurance company they're with for aircraft ownership? I've gotten a few quotes, so far the lowest has been through AOPA and their process. But I wasn't too impressed with their payment options. They either want the entire annual premium up front or a large bulk up front then either montly or quarterly payments with finance charges. On top of that they won't accept a credit card as method of payment. Anyone using a company this has more payment friendly options? Thanks. |
#4
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Insurance company recommendation?
Anyone using a company this has more payment friendly options?
As far as I know every aviation insurance co earns 100% of the annual premium the first day of the policy. That is why you can't cancel the policy and get a pro-rated back unless you actually sell the plane. |
#5
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Insurance company recommendation?
John Doe wrote:
: Anyone care to recommend which insurance company they're with for aircraft : ownership? Avemco has a quarterly payment program. No extra charge. They also take credit cards, handy for binding overage. They also have no idiotic niggley bits in their ins policies. They are a little more expensive but the no BS is worth it in my book. -- Aaron C. |
#6
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Insurance company recommendation?
John Doe wrote:
Anyone using a company this has more payment friendly options? Not I. George Patterson Drink is the curse of the land. It makes you quarrel with your neighbor. It makes you shoot at your landlord. And it makes you miss him. |
#7
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Insurance company recommendation?
The one "strangeness" with Avemo to be aware of is the family
limitation. This is only with Avemco. If you are traveling with your family (flying pilot's relations), the amount of insurance available for their injuries is reduced dramaticly. I guess they figure your wife won't sue you but that's not true at all. If she has life long injuries you may have her sue you to unlock the insurance. Happens all the time with homeowners insurance when the husband falls off the roof putting up the wife's X-mas lights. |
#8
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Insurance company recommendation?
John Doe wrote:
Anyone care to recommend which insurance company they're with for aircraft ownership? I've gotten a few quotes, so far the lowest has been through AOPA and their process. But I wasn't too impressed with their payment options. They either want the entire annual premium up front or a large bulk up front then either montly or quarterly payments with finance charges. On top of that they won't accept a credit card as method of payment. Anyone using a company this has more payment friendly options? Thanks. I had AVMEMCO until I switched to aopa (aig) for $1,400/yr less. They took credit cards. Of course for 1400 extra I think I should have got a kiss after... |
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