Home » Aircraft Insurance Outlook – February 2024

Aircraft Insurance Outlook – February 2024

Posted By Benjamin Peterson

Published February 5, 2024

Things are heating up in aircraft insurance. Let’s GO!

  • January and February are slower months for us and a time to reflect and create new goals for 2024
  • The aircraft insurance market is starting to heat up with competition. Check out the below % move and you’ll see some price reductions that have been foreign to us for the past five years
  • Changes in the market: Beacon Aviation Insurance has a new 6 month policy program for transition pilots into expensive aircraft where they can be re-rated or shopped after 6 months so they’re not stuck into a 12 month policy with higher rates
  • Changes in the market: Rokstone Underwriting will bring in more new aviation insurance competition with senior underwriters from Starr and AIG
  • In general the trend has reversed and rates are on the decline for a lot of people but not everyone. 

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. 

MakeModelType of PilotHull ValuePremium% Move
PiperM600Owner Pilot with 1,050TT$3,400,000$31,000🔻43%
DiamondDA62Owner Pilot 400TT and 100 in DA62$1,420,000$21,000🔻41%
PilatusPC-24Two Pro Pilots Experienced in PC-24$9,700,000$25,000🔻37%
PiperJetPropOwner Pilot Experienced; Age 58$900,000$14,000🔻31%
PiperM350Owner Pilot Experienced; Age 45$1,560,000$18,000🔻14%
DaherTBM 910Owner Pilot Experienced; Age 72$2,900,000$32,000🔻8%
DaherTBM 910Owner Pilot Experienced; Age 72$2,900,000$31,000🔻7%
CirrusSR22Owner Pilot Experienced$700,000$7,000FLAT
PiperMirageOwner Pilot Experienced; Age 58$450,000$6,000🟢 2%
DaherTBM 930Owner Pilot Experienced; Age 62$3,500,000$29,000🟢 5%
AirbusH125Owner Pilot Experienced; Age 62$1,600,000$43,000🟢 13%
PilatusPC-24Pro Pilots Switched from Dual to Single Pilot10,500,000$68,000🟢 40%
Bell505Two New PRIV Pilots with 100 Total Time$2,340,000$93,000NEW
RobinsonR66Two New PRIV Pilots with 100 Total Time$1,300,000$58,000NEW
DaherKodiak 900Owner Pilot New to Turbo Prop and Kodiak$3,500,000$41,000NEW
GulfstreamG650ERPro Pilots New to Gulfstream and Int’l$60,000,000$99,000NEW

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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