On the topic of insurance our renewal was due a couple of weeks ago, and I don't mined sharing my experience.
We had $50k hull through PSB (Insurance House), for which the renewal was $1921 with a $1500 excess. I got an alternative quote via Bill Owen/Agile for $51k (which was bizarrely cheaper than $50k) with $1000 excess. This was $1221. This included the "new for old" bolt on.
In the end we decided on increased coverage over last year, specifically the $1m Limit of Liability, largely to protect a passenger (most likely spouse/family member) in the event that any (ongoing) medical expenses are required as a result of an accident and they exceed the RAAus amount . This cost us $1584, so significantly less than both last year and the renewal.
The note that came with Bill Owen quote is below.
Obviously insurance is a highly personal perception of risk likelihood and consequence, so I don't suggest what we decided appropriate for everyone... but I get consistent free advice from this forum so I am happy to share.
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Liability Limit:
We also strongly recommend a minimum limit of liability as part of your aircraft insurance as the liability attached to the RAAus membership is limited. Also the biggest risk with aircraft ownership is not the loss of the hull, but the legal liability you take on as the owner, which can amount to millions of dollars in the event of a claim that involves property damage / bodily injury / death to either passengers or third party (i.e. people / property outside of the aircraft).
Additionally, if the aircraft is owned by an individual and the Combined Single Limit of liability is exceeded in the event of a claim, everything personally owned is potentially exposed to claimants, particularly the family home. Of course, the decision is yours, however we do strongly recommend you consider a Combined Single Limit as part of your policy