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Aircraft Insurance Outlook – October 2023
Posted By Benjamin Peterson
What are the hardest areas of the aviation insurance market?
- 70+ Year Old Pilots is for sure #1
- Transition Pilots from a Light Aircraft into an Expensive Turbine
- Transition pilots into Expensive Aircraft with less than 1,000 Total Time or Low Time in General
- Piaggio, Epic LT (Experimental), Lancair
There’s new aviation insurance companies BUT they’re starting out conservative.
In August’s Market Update, we reported that there were 3 new insurance companies, but that total has now grown to 4 with a new entrant. These companies have started out slow and conservative but will eventually, with the right loss ratio, help provide a buffer to the hardest areas of the market. The 70+ year old pilots and transition pilots will eventually see more competition.
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 |
| Citation | M2 | Transition Pilot | $4,500,000 | $65,000 |
| Citation | CJ4 | Dual Pro Pilots | $12,500,000 | $39,000 |
| Phenom | 300E | Single Pilot Pro Experienced | $10,500,000 | $72,000 |
| Phenom | 100EV | Single Owner Pilot | $5,000,000 | $45,000 |
| Pilatus | PC-12 | Pro Pilot; 5 Dry Leases | $4,000,000 | $38,000 |
| Pilatus | PC-12 | Single Owner Pilot 73 Years Old | $2,700,000 | $40,000 |
| Daher | Kodiak 900 | Owner Pilot; 1,000TT | $3,500,000 | $41,000 |
| Daher | TBM 930 | Owner Pilot Experienced | $3,000,000 | $34,000 |
| Daher | TBM 700 | Owner Pilot Experienced | $1,250,000 | $17,000 |
| Piper | M600 | Two Owner Pilots 70+ Years Old | $3,100,000 | $62,000 |
| Piper | M350 | Owner Pilot 1,000TT | 1,500,000 | $21,000 |
| Diamond | DA62 | Owner Pilot with 700TT and 0MM | $1,450,000 | $22,000 |
| Diamond | DA62 | Owner Pilot; Experienced | $1,540,000 | $21,000 |
| Epic | E1000 | Owner Pilot 73 Years Old | $4,500,000 | $90,000 |
| Epic | LT | Owner Pilot Transition from DA62 | $1,700,000 | $65,000 |
| Cessna | 182Q | Student Owner Pilot with 0 Time | $165,000 | $7,000 |
| Agusta | A119 | Single Pro Pilot Experience | $1,500,000 | $60,000 |
| Bell | 407 | Owner Pilot Low Time | $4,500,000 | $115,000 |
| Bell | 505 | Owner Pilot Low Time | $1,750,000 | $49,000 |
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.