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Aircraft Insurance Outlook – August 2023

Posted By Benjamin Peterson

Published August 15, 2023

Deflation in Aviation Insurance?

Aircraft owners should appreciate the fact there’s FOUR new aviation insurance companies this year.

In July’s Market Update, we reported that there were 3 new insurance companies, but that total has now grown to 4 with a new entrant – Mach 2 Underwriters – who can quote pilots +70 years old and transitioning pilots into turbine aircraft. States like California and New York always take longer for insurance licensing.

It’s basically setting up soft market conditions similar to what we saw in 2005 – 2019 where rates declined every year. 

Advice: The best way forward is to maintain a close relationship with your aviation insurance broker and underwriters so you get the best rates as things are changing. 

Other Blog Posts based on Hot Topics for Aviation Insurance:

MakeModelType of PilotHull ValuePremium
CitationM2Pro Pilot 73 Years Old$3,500,000$32,000
King Air250Single Owner Pilot; Experienced$4,500,000$26,000
EpicE1000Owner Pilot 73 Years Old$4,500,000$90,000
EpicE1000Pro Pilot Very Experienced$4,500,000$40,000
PilatusPC-12Pro Pilot; 5 Dry Leases$4,000,000$38,000
PilatusPC-12Single Owner Pilot 73 Years Old$2,700,000$40,000
DaherKodiak 900Owner Pilot; 1,000TT$3,500,000$41,000
DaherTBM 900Owner Pilots +70 Years Old$3,000,000$32,000
DaherTBM 910Owner Pilot; 700TT; 0 in TBM$3,600,000$70,000
PiperMeridianTwo Owner Pilots with 1,300TT and 0MM$1,350,000$26,000
PiperM600Owner Pilot Experienced$3,260,00032,000
DiamondDA62Owner Pilot with 700TT and 0MM$1,450,000$22,000
DiamondDA62Owner Pilot; Experienced$1,540,000$21,000
Cessna182QStudent Owner Pilot with 0 Time$165,000$7,000
Bell505Brand New Private Pilot from R44$1,525,000$70,000
Bell505Pro Pilot$1,450,000$35,000
AirbusH125Owner Pilot Very Experienced$1,600,000$37,000

Ben Peterson is a 15 year aviation insurance services professional, Commercial Pilot and Flight Instructor with over 1,000 hours instruction given, and former Cirrus Factory Instructor Pilot

Benjamin Peterson

Graduated from the University of North Dakota with a degree in Commercial Aviation as a Pilot and Flight Instructor. My first professional job was working for Cirrus Aircraft as an instructor.

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