Avemco Quote

[YankeeClipper]

As if on cue from the most recent post about insurance, I have a potentially useful caveat about Avemco, and possibly the current state of aviation insurance in general.

I just received a hypothetical quote from the above named, assuming that I had:

• 200 hours in make/model
• A normally aspirated model
• Only four seats
• IFR certification
• Multi-engine
• One year policy-ownership without claims

I have no prior incidents/accidents.

The quote was for $4000. The excuse was that multi-engine is expensive. I asked to double-check the input and the output of the above. Same number. That is literally almost triple the same quote last year, and double the same quote for an early-turbo. FWIW, every insurance professional I've spoken with in the last week has vaguley corroborated this, saying that GA insurance has undergone substantial transformation in the last 12 months.

I sincerely hope that this is more of an indication that novice pilots need not apply with Avemco, as I wouldn't consider aircraft ownership at that kind of price-point. Added to the other costs (from which I necessarily receive tangible benefit) I would no longer view the GA ownership experience as having adequate ROI. That's a highly subjective judgement of course, but I'm confident that many other would-be new-comers to GA will feel the same.

I'll follow up when I have something from the same broker I used last year.

[Multimotor]

Strange, I just got a quote from Avemco for a P model that is $900 less than the quote I got last year. I don't have a significant change in hours since then. The quote was based on a hull value of $100,000.

I have no hours in M/M and all they want is an annual training course from one of their approved trainers. I mentioned that I had been in the altitude chamber, but the rep didn't say that was a requirement.

The quote on a normally aspirated model was hundreds cheaper than my 310, again with $100,000 hull. Maybe there is something about centerline thrust being good for insurance rates.

3300 hours, 1300 multi, ATP, CFI, hangared, no claims, repeat customer.

[YankeeClipper]

FWIW, I've heard from two parties that CLT is a small advantage.

Looking your personal numbers there starts to confirm my suspicion that these changes really apply to novice pilots (read, "me"). There was an article in Flying Mag earlier this year about this: https://www.flyingmag.com/aviation-i...ce-is-changing. It's level of clarity is perhaps a bit 'IMC', but it alludes to this in any case.

[YankeeClipper]

Just received a quote from the same agent that last year put me at around 3500 as a novice pilot, and then 2500 as an MEL and IFR pilot with 200 hours in type. The quote was $7000 and an estimated 4000 respectively. They said the market is dramatically different than even 6 months ago. I've just been knocked out of twin aviation altogether.

Going to a C182, was somehow estimated at $800. I'm speechless. Guess it was nice chatting with you all over the past few years ...

[Multimotor]

Sorry to hear that!

That's bad news for both of us, since if the insurance market tightens, my pool of potential buyers shrinks.

[B2C2]

FWIW I just bound insurance today through AOPA. last year it was $1942, this year its $2261, so a roughly 16% increase with no change in coverage. My airplane is a T337D, non P. Hull value $93K, $1M liability. I have about 400 hours in type. When I first started my insurance was about $5K. I have occasionally checked Avemco pricing and found them to be un-competitive with the AOPA quote, but I didn't do it this year.