Home » Aircraft Insurance Outlook – November 2023 – “competition”

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. 

MakeModelType of PilotHull ValuePremium% Move
GulfstreamG280Pro Pilots; Renewal$18,000,000$57,000🔼9%
CitationM2Owner Transition Pilot; 800 Total Time$4,500,000$65,000NEW
CitationCJ4Single Owner Pilot; High Liability Limit$5,500,000$35,000🔼8%
CitationMustangOwner Pilot Experienced$2,280,000$21,000🔻34%
Phenom300ESingle Pilot Pro Experienced$10,500,000$72,000🔻27%
Phenom100Single Owner Pilot; 800 Total Time; Renewal$2,000,000$31,000🔻22%
PilatusPC-24Pro Dual Pilots; Renewal$12,000,000$45,000FLAT
PilatusPC-12Single Owner Pilot 73 Years Old$2,700,000$40,000🔼10%
DaherTBM 930Owner Pilot Experienced$3,500,000$34,000🔻31%
DaherTBM 850Owner Pilot Experienced$2,250,000$30,000🔻20%
PiperM350Owner Pilot working on Instrument; Moved from another Broker$1,700,000$31,000🔻56%
PiperM350New Pro Pilot; New Delivery1,735,000$20,850NEW
CirrusSR22Private Working on Instrument$700,000$15,200🔻8%
CirrusSR22Owner Pilot Experienced: Moved Companies$350,000$5,000🔻5%
DiamondDA62Owner Pilot; Renewal$1,400,000$22,000🔻10%
DiamondDA62Owner Pilot; Experienced$1,540,000$20,000🔻15%
Cessna182 Turbo19 Year Old Private Pilot; New Delivery$825,000$14,500NEW
Bell206Single Ship Part 135; Moved to New Company; Competition$600,000$55,000🔻27%
Bell505Owner Pilot Low Time$1,750,000$43,000🔻17%
Bell 407Owner Pilot Transition from Bell 505$4,500,000$115,000NEW

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.

Find out what we can do for you