What's the Insurance rate for Partnerships?

easik

easik

Pre-takeoff checklist
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easik
I just got quoted for my airplane insurance, and I thought the quote was pretty fair. If I wanted to add a partner to the aircraft, is it more sensible to have separate individual insurance or everyone be under the same policy? what's been your experience?

Note: Potential partner has about half the flight hours. I'm at 145 hours.

Thanks.
 
I didn't know individual insurance was a thing. That could get messy if third party damage occurs I would think.
 
Insurance was high ($1200 - PPL/IR), I joined insurance went down ($1000 -CFI), added a third partner, insurance went up ($1600 - PPL). R182.
 
I'm not sure that's even practically possible. Typically you just have one policy for the airplane and that policy is going to be written based on the least experienced pilot, but unless you're talking about an expensive and complex airplane, the rates for a 75 hour pilot and a 145 hour pilot are likely to be quite similar.
 
Most personal & business policies include up to 5 named pilots. All submit their information and the underwriter comes up with a premium based on the mix of experience. The least experienced member drives the price.
 
Generally adding a partner is no big deal for a basic SEL. Get something high performance and/or with retractable gear insurance companies start penalizing when one of the partners is low time.
 
We have a 3 person policy, but one of the owners has not even soloed (may never get around to it). I am the least experienced at 125h, but it was $600 last year and $600 this year with full hull value. Not great, but not bad for a $15,000 C150f. It is only $200/person/year.
 
I was the lowest time PPL when I was in a 4 man partnership.
Insurance went up slightly..maybe $100/yrs until I had time in the plane. Also had to have 10hrs dual
 
Yep, they're going to base the premium on the riskiest pilot in the group.
 
And if the partner has zero time in type they will usually ask for a reasonable number of hours to be flown with a CFI.
 
I’d add him to your policy, any increases pass on to him
 
Ravioli said:
My understanding is that the policy is rated to the least experienced operator. But I'm not in the bidness.
Click to expand...

We have a 16 pilot group and the policy is written on the lowest time/currency pilot.

One of our pilots has not flown in 6 years and we pay based on him.
 
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