Holden Posted January 5, 2004 Report Share Posted January 5, 2004 Can somebody tell me what a good figure would be for insurance on a '97 300C for personal use only? I realize that pilot quals plays a part, and hull value of about 200k. I have a quote for $18,000 a year and thought that sounded a bit high, but it's my first time cracking into helo ownership. Thanks. Quote Link to comment Share on other sites More sharing options...
gmsemel Posted January 5, 2004 Report Share Posted January 5, 2004 My information is a little dated, but we were paying 25K for insurance for a Bell 47 G 3 B-1. That was back in 1996. We was stuck with just one insurer that was willing to write us a policy. At that time our insurance guy told us that this will be what its going to cost for a few years till we built up a track record, then the rates would come down some. New business you see. My guess its going to be the same for you, new policy no track record etc. The more the hull is worth the more the insurance is going to be. The lower time on time life parts, the more its going to cost to insure, do to higher pay out in case of a loss. Sounds like that 18K while high is on target. Also you should ask if you can get a better break with a higher deductable or some factory training. Its not cheap to own a helicopter even if you are going to put one to work, You need a lot of money just to keep one sitting. It may be less expensive for you to rent a 300 when you want to fly on a per hour base away. Quote Link to comment Share on other sites More sharing options...
Gummy Posted January 6, 2004 Report Share Posted January 6, 2004 When I was looking about 6 months ago the rule of thumb seemed to be about 10% of the value of the ship. So if the ship is insured for 200,000 then expect about 20k per year in premiuns. Quote Link to comment Share on other sites More sharing options...
RDRickster Posted January 6, 2004 Report Share Posted January 6, 2004 What a total rip off! That's exactly why it is better to wait and buy a helicopter out right... self insure it and just get liability. Quote Link to comment Share on other sites More sharing options...
Nat3hCFI Posted January 7, 2004 Report Share Posted January 7, 2004 I had the same experience as Gummy, when I was looking about 9 months ago, 10% of the hull value, and another 1% but I don't recall whay that was. $18,000 doesn't sound bad. The hard part is it is all up front or on a 9 month pay. So if you get rid of the helicopter after 4-6 months you still have to pay the balance of the insurance, not like car insurance you can pay once a month and cancel ??? Quote Link to comment Share on other sites More sharing options...
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