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.
Make | Model | Type of Pilot | Hull Value | Premium | % Move |
---|---|---|---|---|---|
Piper | M600 | Owner Pilot with 1,050TT | $3,400,000 | $31,000 | 🔻43% |
Diamond | DA62 | Owner Pilot 400TT and 100 in DA62 | $1,420,000 | $21,000 | 🔻41% |
Pilatus | PC-24 | Two Pro Pilots Experienced in PC-24 | $9,700,000 | $25,000 | 🔻37% |
Piper | JetProp | Owner Pilot Experienced; Age 58 | $900,000 | $14,000 | 🔻31% |
Piper | M350 | Owner Pilot Experienced; Age 45 | $1,560,000 | $18,000 | 🔻14% |
Daher | TBM 910 | Owner Pilot Experienced; Age 72 | $2,900,000 | $32,000 | 🔻8% |
Daher | TBM 910 | Owner Pilot Experienced; Age 72 | $2,900,000 | $31,000 | 🔻7% |
Cirrus | SR22 | Owner Pilot Experienced | $700,000 | $7,000 | FLAT |
Piper | Mirage | Owner Pilot Experienced; Age 58 | $450,000 | $6,000 | 🟢 2% |
Daher | TBM 930 | Owner Pilot Experienced; Age 62 | $3,500,000 | $29,000 | 🟢 5% |
Airbus | H125 | Owner Pilot Experienced; Age 62 | $1,600,000 | $43,000 | 🟢 13% |
Pilatus | PC-24 | Pro Pilots Switched from Dual to Single Pilot | 10,500,000 | $68,000 | 🟢 40% |
Bell | 505 | Two New PRIV Pilots with 100 Total Time | $2,340,000 | $93,000 | NEW |
Robinson | R66 | Two New PRIV Pilots with 100 Total Time | $1,300,000 | $58,000 | NEW |
Daher | Kodiak 900 | Owner Pilot New to Turbo Prop and Kodiak | $3,500,000 | $41,000 | NEW |
Gulfstream | G650ER | Pro Pilots New to Gulfstream and Int’l | $60,000,000 | $99,000 | NEW |
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.
![ben-headshot](https://sunsetais.com/wp-content/uploads/ben-headshot.jpg)
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.