The market has gone flat – 🌊🌊🌊
- We’re still getting a lot of calls from aircraft owners out there getting increases in premium this year. Why is that? Probably because their premium is somewhat competitive or their broker hasn’t been able to attract competition
- Soft areas of the market: Low limits – sub $2,000,000 hull value and liability $2,000,000 is easy for all 20+ aviation insurance companies to quote.
- Flat areas of the market: Mid to High limits – $2,000,000 to $10,000,000 hull value and the number of insurance companies drops to 12.
- Hard areas of the market: High limits – $10,000,000 to $70,000,000 hull value and the number of insurance companies realistically drops to 6
| Make | Model | Type of Pilot | Hull Value | Premium | % Move |
|---|---|---|---|---|---|
| Gulfstream | G650ER | Flights from US to Poland and Everywhere | $60,000,000 | $129,000 | NEW |
| Citation | 650 III | 72 year old pro and new pro pilot | $1,500,000 | $23,000 | NEW |
| Bell | 505 | Owner Pilot with 110 total time PRIV | $2,300,000 | $72,000 | NEW |
| Bell | 505 | Owner Pilot New Delivery and New to Bell but Experienced Pilot | $2,300,000 | $65,000 | NEW |
| Embraer | EMB-505 | Pro Pilot with 1,900TT and New to EMB-505 | $9,500,000 | $83,000 | NEW |
| Bell | 505 | Owner Pilots low time second year owners | $2,200,000 | $71,000 | 🔻65% |
| Piper | Meridian | Owner Pilot Experienced | $900,000 | $15,000 | 🔻8% |
| Bell | 206B | Owner Pilot Low Time But Building | $350,000 | $17,000 | 🔻10% |
| Daher | TBM 700 | Owner Pilot; Age 71 | $1,500,000 | $32,000 | 🔻12% |
| Daher | TBM 850 | Owner Pilots and A Lot of Claims | $2,600,000 | $34,000 | 🔻12% |
| Piper | M600 | Owner Pilot; Age 71 | $2,500,000 | $29,000 | FLAT |
| Daher | TBM 960 | Owner Pilot with 1,100TT and Unfortunate Maintenance Shop FOD Engine Cotter Pin Claim | $4,600,000 | $115,000 | FLAT |
| Robinson | R66 | Owner Pilot Experienced | $650,000 | $30,000 | 🟢4% |
| Citation | CJ2 | Pro and Owner Single Pilot | $3,500,000 | $36,000 | 🟢4% |
| Pilatus | PC-12 | 73 Year Old Owner Pilot Experienced | $2,700,000 | $43,000 | 🟢8% |
| Beechcraft | Premier | Owner Pilot 70 Years Old | $2,000,000 | $26,000 | 🟢8% |
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.
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.