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||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.
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.