Matronics Email Lists :: View topic - RV-10 insurance vs. Lamborghini Gallardo

Matronics Email Lists
Web Forum Interface to the Matronics Email Lists

Get Email Distribution Too! FAQ Search Memberlist Usergroups Register

Profile Log in to check your private messages Log in

RV-10 insurance vs. Lamborghini Gallardo

Matronics Email Lists Forum Index -> RV10-List

View previous topic :: View next topic

Author Message

Tim Olson

Joined: 25 Jan 2007
Posts: 2872

Posted: Thu Jan 26, 2012 12:43 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I got my insurance renewal quote today, after over 800 hours

of flight time in my RV-10, and an instrument rating.

It's great to see that competition is alive in the insurance

market again.  From the sounds of it, AIG is back in, going

after the RV pilots with high time in make/model, WITH an

instrument rating, and courting them with low rates.  My

Global quote stayed the same this year at about $2710.

My AIG quote ran $2248.  I thought it was a no-brainer, even

though in some ways Global covers a bit more things than

AIG....I'd have to ditch Global for AIG.  But, Jenny Estes

at NationAir helped and took it one step further and asked

Global if they could get close to that rate...and Global

came back with $2275.  So, they saved me as a customer

this year again.



This means that in 6 years, and 800+ hours, my rate

has now dropped from $3440 or so, to $2275....keeping

the hull value the same every year.



Hope you all are seeing similar drops.  I guess the

moral is, pay the piper and build time...and definitely

get that instrument rating, and over time you

should see your flying pay back a little in terms of

rates.



Oh, BTW....I was wondering how an RV-10 compared to

an expensive sports car, such as a Lamborghini Gallardo.

I figured some of those cars have high "hull values" so

they may make a good comparison to RV-10 insurance.

Turns out that we make out pretty well.  One forum I

trolled to find quotes said that The Lamborghini would

cost about $2300/mo.  So, we look pretty good compared

to that market.



Tim

rleffler

Joined: 05 Nov 2006
Posts: 680

Posted: Thu Jan 26, 2012 2:40 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I just received the following quote through Britt/Paulk ($2,088), which was

significantly less than Chartis ($3,500).  I'm a 325 hr, IFR rated SEL,

minimal HP and RV-10 time.



.	$160,000 hull value on 2011 Vans RV 10

.	Deductibles:  $50 not in motion; $250 in motion

.	Liability:  $1 million/occurrence with sublimit of $100,000 per

passenger

.	Med pay:  $5,000 per passenger including crew

.	Britt/Paulk offers premium financing for your convenience

.	Total annual premium  for all risk ground and flight coverage =

$2088

.	This would be a named pilot only policy.

.	It appears that they would approve you as pilot and would require

you to obtain 2 hours of solo flight in this make and model aircraft prior

to carrying passengers.



My agent is:



Candy Eichenberger

Avinsure Agency, Inc.

PO Box 1600, Powell, OH 43065

Phone:     7408814188

Fax:          7408814409

Toll free:  888 GR8-2-FLY

Email:      ceichenberger(at)avinsureagency.com

                 www.avinsureagency.com



--

_________________
Bob Leffler
N410BL - Phase I
http://mykitlog.com/rleffler

Bob Turner

Joined: 03 Jan 2009
Posts: 885
Location: Castro Valley, CA

Posted: Thu Jan 26, 2012 5:06 pm Post subject: Re: RV-10 insurance vs. Lamborghini Gallardo

Bob,



That is a great price. As best I can tell, Britt/Paulk is an "agency for agencies". Is that correct? Do you know the actual company (s) underwriting the policy?



Last summer the best I could do for a similar policy was $3800, and I have 2000+ TT, 1000+ HP time, instrument, commercial, cfii, but at the time only 20 hrs of RV-10 time. Hopefully next year will be better!



Bob

_________________
Bob Turner
RV-10 QB

rv10flyer(at)verizon.net
Guest

Posted: Thu Jan 26, 2012 5:34 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I got a quote from Skysmith. I am a low (fix wing) time pilot and 

Britt/Paulk came as the lowest for the same coverage.

I was quite happy with Skysmith.

Pascal



--

robin(at)PaintTheWeb.com
Guest

Posted: Thu Jan 26, 2012 5:34 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

Not sure that Lamborghini Gallardo insurance quote is correct. I have a few friends with Ferrari's and they pay between $2-$3,000/ year for insuring their cars. They are garaged & low annual mileage cars not primary use cars so that is also a factor.

Speaking of car insurance we pay $1,700/year for 4 cars. Just added our 18 year old daughter to the policy. Add $2,000... This email thread solved it, I am putting my foot down, she is definitely not getting a Lamborghini now!



Robin

Do Not Archive



--

dlm34077(at)q.com
Guest

Posted: Thu Jan 26, 2012 6:00 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I don't know about your state but since we have more cars than drivers I can

assign the 1994 Altima to him and not insure him for the 2010 Honda and Kia

or the 1988 GMC Vandura. It will save a bundle.



--

robin(at)PaintTheWeb.com
Guest

Posted: Thu Jan 26, 2012 6:26 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I worked it up/down, left/right it all came to about the same number to add her to our insurance $2K. If it were her own policy it would was $3,500. It's painful but I understand a teen can cause a lot of damage regardless of the car she is driving. 



Robin

--

rv10flyer

Joined: 25 Aug 2009
Posts: 364

Posted: Thu Jan 26, 2012 7:30 pm Post subject: Re: RV-10 insurance vs. Lamborghini Gallardo

Britt Paulk- Jeff Rhodes, CS&A Insurance- Taylorsville GA. RV driver too. $2138, 135K, vfr, low timer 200 hrs. I am very happy with them.

_________________
Wayne G.

rleffler

Joined: 05 Nov 2006
Posts: 680

Posted: Fri Jan 27, 2012 3:39 am Post subject: RV-10 insurance vs. Lamborghini Gallardo

I don't have much more info than what I posted.  I'm not going to be

airborne until June, so I haven't been big rush to compare all the T&C's

yet.   I just heard via the grapevine that Britt/Paulk was issuing policies

at a great rate and wanted to know what they would offer me.  The $1,500

reduction will take a big chunk out the Phase I fuel bill.



I listed my agent, feel free to give her a call or one of the other agents

that have been talked about to answer your questions.



bob



--

_________________
Bob Leffler
N410BL - Phase I
http://mykitlog.com/rleffler

Tim Olson

Joined: 25 Jan 2007
Posts: 2872

Posted: Fri Jan 27, 2012 6:34 am Post subject: RV-10 insurance vs. Lamborghini Gallardo

That's great that you guys are finding similar competition in

the rates this year.  It's a tremendous relief from what it was

a few years ago.   Your rate is a bit lower but the hull value

is lower by a ways too, so mine is in the same range.

One thing to mention is that I actually did NOT choose the

cheapest option that I could have.  You have to look at

the whole policy and see what options are included and make

sense. I didn't go with AIG this year again, because they don't

have quite the same benefit level as Global.  With the traveling

to Bahamas/Mexico and this year Alaska, there are some things

that are covered that others don't, such as I have coverage

for Search and Recovery costs, and even a $10,000 coverage for

off-airport precautionary landings.   So if I find myself with

a rough engine and need to land on a beach, they'll cover

up to $10,000 in costs to get it moved to somewhere else

so I can fix it and take off. Global also has double the

medical payments coverage than AIG pays.  Also, some policies

don't cover anyone counted as "crew"...and with a wife pilot

in the family, I want to make sure that there's no question

that she's covered.  Some also don't pay for pilot medical

out of the same coverage line item.   So as usual, when looking

solely at the dollar cost, you don't get apples to apples.

I know that Jenny got quotes from more places than what

I cared to look at, but I don't know if Britt/Paulk was

one of them, but she knew me and my flying plans, so we looked

at the ones that fit my flying plans the best.  Personally,

I'm just thrilled that my rate is over $1200 less than

when I started flying the plane.  At the level it's at right

now, it's actually bargain insurance compared to the $900/yr

I used to pay for a Beech Sundowner...because the hull value

there at $50K was way under 3X what the RV-10 is.

Some of this is a testament to YOU all, too.  I greatly

appreciate that we've had so few fatal RV-10 accidents.

There are kitbuilt communities that have nowhere near the

safety record the RV-10's do.  The sad side is that the

fatals we did have, shouldn't have ever happened in the

first place, but at least the count isn't rising

very rapidly.  Kudos to Van's too, for designing a pretty

safe and reliable aircraft!



Oh, and for you first-time RV-10 flyers, make sure to ask

specifically about your coverage during your first flight,

first 10 hours, and flyoff time.  There are big differences

in what various companies will cover.  Make sure you get

the policy that fits you best.



Tim



On 1/27/2012 5:26 AM, Bob Leffler wrote:

[quote] 



 I don't have much more info than what I posted.  I'm not going to be

 airborne until June, so I haven't been big rush to compare all the T&C's

 yet.   I just heard via the grapevine that Britt/Paulk was issuing policies

 at a great rate and wanted to know what they would offer me.  The $1,500

 reduction will take a big chunk out the Phase I fuel bill.



 I listed my agent, feel free to give her a call or one of the other agents

 that have been talked about to answer your questions.



 bob



 --

woxofswa

Joined: 12 Aug 2008
Posts: 349
Location: AZ

Posted: Fri Jan 27, 2012 7:18 am Post subject: Re: RV-10 insurance vs. Lamborghini Gallardo

Several years ago I added a 17 year old student pilot son to my insurance on a Socata Tampico.  The cost to add him to the policy with a 70 k hull value and 1million liability was less than it was to insure him in an old beater pickup with zero hull value and only 30k liability.

_________________
Myron Nelson
Mesa, AZ
Flew May 10 2014

rleffler

Joined: 05 Nov 2006
Posts: 680

Posted: Fri Jan 27, 2012 1:45 pm Post subject: RV-10 insurance vs. Lamborghini Gallardo

I had the exact same experience when I added my son to my Cherokee.  I think

I paid $300 to add him to the Cherokee and $1,400 for his ten year old Grand

Prix.



--

_________________
Bob Leffler
N410BL - Phase I
http://mykitlog.com/rleffler

giblet

Joined: 19 Jun 2012
Posts: 1

Posted: Tue Jun 19, 2012 10:54 pm Post subject: Re: RV-10 insurance vs. Lamborghini Gallardo

It's works or not?

_________________
Insurance

Display posts from previous:

	Matronics Email Lists Forum Index -> RV10-List	All times are GMT - 8 Hours
Page 1 of 1

Jump to:

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum