Thorp Air Command - T18.net

Well "you ain't going to believe this S***!!
I got a letter from my insurers, yesterday, cancelling my policy from my next renewal date. Reason, "Due to adverse loss experience"?
The letter was dated August 4th and I sold my Debonair in July. The Thorp is on Ground Risks only while I go through it.
Then today I get a quote of $2550+ for the Thorp, and that was Ground Risks only??And, I have been insured by this bunch for years with a clean record.
I had heard that they will not renew anyone over 75, in any retractable or multi engine, and have seen the letters that they have sent so I was ready for that one, Age discrimination covered by fancy insurance broker words.
I don't want to sound like the arrogant airline pilot, but, every certificate except Glider and Helicopter and Balloon, just under 14,000hrs, lots of tailwheel and GA time and a retired FAA Inspector/examiner.
I feel that I should see more sensible numbers, what say the audience?
Speedbird1

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N872DD
200hp Lycoming

I believe it. Insurers have one goal... to make money.
I have 1500 hours in my Thorp and over 15,000 total. I dropped hull coverage several years ago because, 1. If it’s minor damage, I’ll fix it myself 2. If it is major damage, we’ll, I run the factory. So I’ll either fix it, or I’ll be dead and don’t care.
Anyway, liability only has been $252 for years. Last year, it went to $350. I just got an unsolicited quote from Falcon for $495. I wrote USAA (my broker), and told them that I’m not paying 500 bucks for A liability Policy when I’ve never had a claim of any type (car or plane). I told them I’ll be looking for something cheaper or I’ll dump them altogether.
She said rates are going up.
I’m not playing their BS games.
Cubes

The word among the low and slow crowd seems to indicate if you are over 70 years old and insured, don’t change companies because they won’t accept new clients that old. I expect it can be really bad for an owner of a fast airplane. My policies are up for renewal and am curious as to what the premiums will be. I haven’t carried hull coverage on the T18 in several years. Never on the L4. I went up to $30k on the C150 because the engine is still proving itself and I am in the middle of installing some new Garmin toys so I can have an easy airplane to get IFR proficient. After that I will look at stepping up to something faster.

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Thorp T18
O-320-B3B (160 HP)
68x74 Sterba Propeller

"The joke in aviation is, 'If you want to make a million, you'd better start with £10m.' " -Bruce Dickinson

When I last insured a Thorp in 2014 it was $850 and my student-pilot son was listed as a named pilot. New thorp this year and its $1500 with only me on the policy. 9000 hrs, 1100 TD, 300 thorp, 40k hull. I’ve been with my broker for 25 years. She said it’s the hardest market she’s ever seen. Only 3 companies would even rate me. The one I had in 2014 wouldn’t quote...

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Scott Hinton
N149RH
KECG
Elizabeth City, NC

I have also been with my broker for well over 25yrs and she is saying the same thing. With less flying I guess the risk ratio must go up somehow??
I also called Avemco and for ground risks only, and hull of $32,000 they came up with numbers over $2400.
A very difficult time.
Speedbird 1.

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N872DD
200hp Lycoming

It used to be hull was 7 to 8 percent of declared value per annum. Unless you financed the plane, hull insurance is superfluous IMHO.

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Bob Highley
N711SH
SN 835
KLAL

Bob, hull insurance may be superfluous if you don't have any incidents, that said, in the 14 years that I have had my aircraft with full hull coverage with two prop strike incidents, one in the hangar and one on ground in motion, I recieved back every penny I had spent on insurance and maybe a bit more.

At my current insurance cost it would take me 26 years to cover the hull value of my aircraft. Me, I'm keeping full hull in motion coverage of my bird. When I first purchased my aircraft insurance was $1578 for $26500 hull value for a low time, zero tail dragger time pilot. Today my cost is $1587 for a $40000 hull value and 800 hours of tail dragger time. My insurance has been as low as $992 but then I had the two claims. Note, I have been with the same carrier for those 14 years.

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Bruce Finney
N18JF T-18C #262
Yelm, WA USA

I received my quote today:
$1 million liability
$100k med each person
No hull
Named pilot only
$495

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Thorp T18
O-320-B3B (160 HP)
68x74 Sterba Propeller

"The joke in aviation is, 'If you want to make a million, you'd better start with £10m.' " -Bruce Dickinson

Similar to mine.

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Bob Highley
N711SH
SN 835
KLAL