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Aircraft Insurance Outlook – November 2023 – “competition”
Posted By Benjamin Peterson
Published November 30, 2023
The new aviation insurance companies are starting to get COMPETITIVE! Check out these rate reductions
- IAT has been very competitive for Owner Flown Single Pilot Turbine, Pilots must be less than 70 years old for new business though
- Mach 2 is a good new market for aircraft less than $3,000,000 and Student Pilots, Transition Pilots
- Eiger Insurance is good for older aircraft, unique flight operations, Helicopters, Student Pilots, Transition Pilots
- Applied Underwriters has brought good capacity to the market for Quota Share follow and Turbine Aircraft, Pro Pilot, Single Pilot, Part 91 Operations
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 |
| Gulfstream | G280 | Pro Pilots; Renewal | $18,000,000 | $57,000 | 🔼9% |
| Citation | M2 | Owner Transition Pilot; 800 Total Time | $4,500,000 | $65,000 | NEW |
| Citation | CJ4 | Single Owner Pilot; High Liability Limit | $5,500,000 | $35,000 | 🔼8% |
| Citation | Mustang | Owner Pilot Experienced | $2,280,000 | $21,000 | 🔻34% |
| Phenom | 300E | Single Pilot Pro Experienced | $10,500,000 | $72,000 | 🔻27% |
| Phenom | 100 | Single Owner Pilot; 800 Total Time; Renewal | $2,000,000 | $31,000 | 🔻22% |
| Pilatus | PC-24 | Pro Dual Pilots; Renewal | $12,000,000 | $45,000 | FLAT |
| Pilatus | PC-12 | Single Owner Pilot 73 Years Old | $2,700,000 | $40,000 | 🔼10% |
| Daher | TBM 930 | Owner Pilot Experienced | $3,500,000 | $34,000 | 🔻31% |
| Daher | TBM 850 | Owner Pilot Experienced | $2,250,000 | $30,000 | 🔻20% |
| Piper | M350 | Owner Pilot working on Instrument; Moved from another Broker | $1,700,000 | $31,000 | 🔻56% |
| Piper | M350 | New Pro Pilot; New Delivery | 1,735,000 | $20,850 | NEW |
| Cirrus | SR22 | Private Working on Instrument | $700,000 | $15,200 | 🔻8% |
| Cirrus | SR22 | Owner Pilot Experienced: Moved Companies | $350,000 | $5,000 | 🔻5% |
| Diamond | DA62 | Owner Pilot; Renewal | $1,400,000 | $22,000 | 🔻10% |
| Diamond | DA62 | Owner Pilot; Experienced | $1,540,000 | $20,000 | 🔻15% |
| Cessna | 182 Turbo | 19 Year Old Private Pilot; New Delivery | $825,000 | $14,500 | NEW |
| Bell | 206 | Single Ship Part 135; Moved to New Company; Competition | $600,000 | $55,000 | 🔻27% |
| Bell | 505 | Owner Pilot Low Time | $1,750,000 | $43,000 | 🔻17% |
| Bell | 407 | Owner Pilot Transition from Bell 505 | $4,500,000 | $115,000 | 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.
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.