Questions for ya..

1. What’s everyone that flys in AK doing for insurance these days?
- My most recent renewal quotes are double (or more) last years rates, coverage is less and deductible is more.

2. Any policy exclusions that have bit others that I should look out for when considering new underwriter?
Or better yet, any positive recommendations on underwriters?

I switched to Bill White this year. Substantially less than Avemco which was substantially less than what AOPA quoted me in the past. BW just opened up an office at Lake Hood this spring too.

BWI let me in on a secret for seasonal alaskans. If you have an address in another state, and you/airplane are in that other state 6 months + 1 day of the year, your insurance will be based on that state, with AK as a covered territory. Talk about savings for me. Doesn't help yall year-rounders though.

-Asa

I too switched to BWI a couple of years ago because of their better rates. I had been using Avemco. BWI was able to achieve their lower rates by using AIG as their carrier. Unfortunately, AIG has decided to stop insuring in Alaska and now, when it comes time to renew your Alaska insurance, even if you use BWI, you will undoubtedly see an increase.....and I'm guessing it's going to be substantial.

I am due for renewal soon and was quoted more than double my current rate through BWI. Incidentally, Avemco came up cheaper than BWI this time. I may opt to self insure the hull and just pay for liability since, at these rates, I could buy a new airplane every 10 years.

Squash wrote: BWI was able to achieve their lower rates by using AIG as their carrier. Unfortunately, AIG has decided to stop insuring in Alaska .

I just renewed with Falcon in Soldotna and they continued my coverage with AIG.... however I am only seasonal in Alaska so maybe that explains it.

I got a quote from Bill White but I was a little late in applying and my insurance was expiring so I renewed with Falcon. BW was a bit cheaper.

I just switched to BWI in late April and they are using USSIC for my policy and I also have only a liability policy and with no hull insurance. Definitely worth shopping around and letting them all know you are shopping around, keeps their pencils sharp!

Squash wrote:I may opt to self insure the hull and just pay for liability since, at these rates, I could buy a new airplane every 10 years.

Wow, that’s steep! I just renewed with BWI and USSIC as the underwriter a few weeks ago. I added an instrument rating and another 100 hours time in type last year which kept my rate perfectly flat. I’m at 34 years of premium for a new plane... Avemco was double.

Thanks All-

I am learning that there are only about 3-4 underwriters that are insuring us individuals in AK these days (USSIC, LAU, Avemco and one or two others).

Keeping their pencils sharp is a bit trickier than I thought it would be...

If you go to a broker (say Falcon) and have them shop the market for you and they get quotes from the 3-4 underwriters, then you go to another broker (say BWI) and they go to the 3-4 underwriters, the underwriters have to give BWI the same quotes as they gave Falcon.. for about 60 days.. or something like that..

I have heard that some underwriters prefer certain brokers, so they may decline to quote you to a broker they dont like and when you switch to a broker they like, they have to also decline.. for 60 days.

I also hear that if you do anything like fish spotting, support a lodge or hunting operation, support a dog race, support iron dog, have an other than standard airworthiness certificate... etc. underwriters willing to quote gets even more slim.. If your broker represents that you do any of these things you might get declined and may not know it..

My bird is an Ag Carryall (185 with a spray kit) and it came from the factory with a restricted airworthiness certificate... I had it changed to a standard certificate a few years back, but the underwriter was looking at old or inaccurate aircraft records and declined to quote me due to the other than standard airworthiness certificate.

I also see that some policies have an exclusion for non standard airworthiness certificate, and I was getting quotes from them.. that might have been interesting if i had a claim.

Looking like insuring with Avemco on wheels then switching to floats for 3-4 months and to “not in motion” for 1-2 months in the winter when i dont fly, is going to be the most economical for me.

Seems that competitive quotes are coming in at about 3% of hull value or paying for the plane every 33-34 years.

I guess I pay about 2.5% of the value of my truck for auto insurance and have lower liability limits... soo... it is just a lot of gas $ to send off to the insurance gurus..

Thanks again for all the info. Fly safe!

Back in the day, ALL aircraft insurance policies in Alaska were shopped on the market at Lloyd’s of London. Even liability only for my 90 HP J-3 on floats. Couldn’t afford hull. Alaska May be going that way again, if you’re not already there.

MTV

I had great luck with AVEMCO. Used them up until about 1.5 yrs ago, when I sold the planes, was always great working with them.

Good luck!