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Aircraft Insurance Outlook – October 2023

Posted By Benjamin Peterson

Published October 25, 2023

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. 

MakeModelType of PilotHull ValuePremium
CitationM2Transition Pilot$4,500,000$65,000
CitationCJ4Dual Pro Pilots$12,500,000$39,000
Phenom300ESingle Pilot Pro Experienced$10,500,000$72,000
Phenom100EVSingle Owner Pilot$5,000,000$45,000
PilatusPC-12Pro Pilot; 5 Dry Leases$4,000,000$38,000
PilatusPC-12Single Owner Pilot 73 Years Old$2,700,000$40,000
DaherKodiak 900Owner Pilot; 1,000TT$3,500,000$41,000
DaherTBM 930Owner Pilot Experienced$3,000,000$34,000
DaherTBM 700Owner Pilot Experienced$1,250,000$17,000
PiperM600Two Owner Pilots 70+ Years Old$3,100,000$62,000
PiperM350Owner Pilot 1,000TT1,500,000$21,000
DiamondDA62Owner Pilot with 700TT and 0MM$1,450,000$22,000
DiamondDA62Owner Pilot; Experienced$1,540,000$21,000
EpicE1000Owner Pilot 73 Years Old$4,500,000$90,000
EpicLTOwner Pilot Transition from DA62$1,700,000$65,000
Cessna182QStudent Owner Pilot with 0 Time$165,000$7,000
AgustaA119Single Pro Pilot Experience$1,500,000$60,000
Bell407Owner Pilot Low Time$4,500,000$115,000
Bell505Owner 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.

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