I asked my agent's office for clarification to see what the difference is with hangar vs tie down,instrument rating, etc. Here's the reply:
Quote
All quotes are in and AIG remains the lowest.
In answer to your questions:
"What is the premium difference hangared vs tied-down? instrument rating is saving me how much? "
In a hangar, with instrument rating, the quote is $523.00. In a hangar, without instrument rating, the quote would be $555.00. Tied down, with instrument rating, the quote is $571.00. Tied down, without the instrument rating, the quote is $603.00.
I hope that helps. With this particular model/year of aircraft, you were already receiving a fairly low premium, so the instrument rating does not make a huge difference. But every little bit helps!
Your insurance policy will be expiring on January 29, 2005. We have solicited quotations from the major underwriters that would be most competitive for the type of flying you do and coverage you require. We are pleased to present the attached quotation.
They are probably not the lowest quote dollar-wise but I like the service so I'm sticking with them. I'm attaching a part of my quote sheet showing my experience (or lack thereof!) and the exact coverages quoted.
Who said, "Information is power"?
Eric
Eric Crump [email]ericcrumpatcoxdotnet[/email] 1976 C150M N8747U DVT Phoenix AZ
George, I don't think the ins co's like the 150 TD's as Avemco is charging me about $1100+ a year for mine with high limits and $35k hull coverage. Seems very high to me. A few years ago I compared policies with 3 companies and found Avemco to have the most comprehensive and complete coverage with the fewest built in "wiggle-outs". I don't know if they're worth it, but I just keep on paying the bill. I've been with them for about 10 years.
Dan
Civilization is the limitless multiplication of unnecessary necessities. (Mark Twain)
I have to call AOPA tomorrow and see if they remembered to give me the 5% AOPA Member discount. Attached is a copy of my new policy. I didn't see the discount listed. Like I mentioned earlier, my premium went from $547 to $572 this year. My plane is in an enclosed hangar.
Same experience w/ Avemco as you for my 150TD. Shade hangar at a 'country' strip outside a TCA - $1100 and change. Avemco was the lowest quote and had some rate reducing offers: buy their Safe Flight program and save 5%. Catch: the program costs about the same amount you would save!
Also, rate reduction after logging 50 hours TD time. Got about thirty right now. When I hit 50 hours I'll contact Avemco - see if they will stand by their offer.
Between life insurance, health insurance,car insurance, boat insurance, aircraft insurance, dental insurance and insurance insurance.... I'm worth more dead than alive!
I went through AOPA for my Texas Taildragger and the cost was $602. This is hangered, non instrument rated, no claims in five years, and 30K hull value. I've never had any problems with them. Once a year or so I give them a call for some of the insurance paperwork that the military requires to fly into an air show and that comes within five days.
I'm curious. I read over a couple of the insurance coverage policies which were posted and have a question about the hull coverage. Suppose I buy a 1977 150, fairly basic radio(s) and the hull is insured for $24,000.00. Now, I decide to buy a Garmin 430 or 530 and have it installed. Can the hull coverage be increased another $10-12,000.00 for this fine radio/gps or does this fall into a separate option category?
I'm curious. I read over a couple of the insurance coverage policies which were posted and have a question about the hull coverage. Suppose I buy a 1977 150, fairly basic radio(s) and the hull is insured for $24,000.00. Now, I decide to buy a Garmin 430 or 530 and have it installed. Can the hull coverage be increased another $10-12,000.00 for this fine radio/gps or does this fall into a separate option category?
Bengie Phillips Columbus, GA
Bengie, maybe or maybe not. The companies get a bit nervous when insuring much more than 125% of the average value of an airplane. I was limited by AOPA in my last year of 150/150 ownership. I had to submit a bunch of support for the value of my bird to increase the insurance to $32K. It sold in a day at $32.5K, but they were quite hard to convince to increase it. Avionics are a bit easier to value, so perhaps that wouldn't be as big of a deal, but surely you will want to verify it first.
Bengie, it's hard to tell whether or not the insurance company would agree that $10k in avionics increases the value of an airplane by $10k. You can install a high dollar stereo system in an automobile and it has very little effect on the market value. Airplanes aren't that much different.
Dan
Civilization is the limitless multiplication of unnecessary necessities. (Mark Twain)
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