FX3 Insurance PIREPs

[Meconiates]

So I currently have my 2016 Carbon Cub SS insured with Avemco for $220k hull. I just called them to see if they would insure my FX3 that I just ordered and was told they have a $200k hull limit on experimentals. So that is obviously not going to work.

So FX3 owners - do you mind sharing who your insurance company is and/or your broker? Would also like to get an idea if folks are willing to share what they are actually paying for insurance if you are willing to share.

For my SS, my premium is $4,070 on $220k, or 1.85% of hull.

 

[Neal]

I suggest ask your CC dealer for recommendations. They know who to use for CubCrafters. I use Ladd Gardner aviation insurance as my broker. It's the worst part of this deal, insurance. My first year IIRC was 7500, I'm down to around 5300 now with 400K hull value.

 

[Cactus Charlie]

I'm down to around 5300 now with 400K hull value.

What carrier? That's less than I pay. PM if you prefer.

 

[Neal]

Old Republic

Ladd Gardner | President | Ladd Gardner Aviation Insurance Agency, Inc.
PO Box 183 | Addison, TX 75001
Main: 972.250.0400 | Fax: 972.250.0401
www.lgainsurance.com

 

[Cactus Charlie]

Old Republic

Thanks. I'm currently with AIG which had the best price found by NorthWest Insurance Insurance Group.

I wonder if I'm being penalized for age but the premiums went down at last two renewals and I didn't get any younger.

My PA-28 was insured for several years with Old Republic but they either wouldn't quote, or were non-competitive, for the FX-3. Maybe I should try again at next renewal.

 

[lrobichaux]

Thumbs up for Ladd Gardner. I use them for my NX and EX-3. I'm currently paying quite a but for the EX-3 because of two pilots with low TW time. Hope to make progress on that front this year.

 

[Meconiates]

Cool - can you share contact at Ladd Gardner ?

 

[Neal]

Cool - can you share contact at Ladd Gardner ?

Scroll up

 

[Meconiates]

Scroll up

Yup, see the main phone for Ladd and then on their web page it shows multiple agents:

https://lgainsurance.com/our-team/

So was just wondering if I should go to Ladd directly or if one of their agents was the Carbon Cub expert...

 

[lrobichaux]

Cool - can you share contact at Ladd Gardner ?

I use Bob Haag (972) 250-0400 or cell (830) 285-2957

 

[Neal]

I suggest just email them and start from there. I don't know how the agents are assigned out. I started working with Ladd via email and got handed off to Bob Haag.

 

[lrobichaux]

Bob Haag.

This is who I use.

 

[Neal]

I don't think there is any rhyme or reason we'll ever figure out as to the rates. You can fly and try to build time but that doesn't seem to bring rates down much. I think there are a lot of factors involved such as your ratings, time (calendar and hours) in Type that factor in. Your location plays in the equation, hangared or not, your age, hull value, year of your plane (newness) etc. as we all know. The problem we all face is these cubs are stupid expensive and people go out and try to reproduce what they see on YouTube and bend metal early on. A FX-3 was on the list this past week for a bad landing it seems, damage significant. It was one of the first FX-3's so older. We're all going to pay for this, I doubt I'll ever see below 5K/year. It was interesting to hear Trent Palmer in a recent video say he's paying around 3K and I think he went with Clemens (whatever the name is) but we don't know the details of the policy, i.e. hull value, etc. But his Legend Nomad is probably optioned out to be around 500K I'm guessing, not that he paid that.

 

[lrobichaux]

I think there are a lot of factors involved such as your ratings, time (calendar and hours) in Type that factor in. Your location plays in the equation, hangared or not, your age, hull value, year of your plane (newness) etc. as we all know.

No doubt that all of these factors play a role. But I've been told that for pilots under 70 years old, there are two primary factors: (1) hull value and (2) time in type. I agree that premiums will never get lower than $5k unless you lower the hull value and essentially self-insure a good portion of the risk.