Good Luck in 2023 and Let’s Do Some Deals
Quick market update for aircraft insurance in February 2023. Steady, as she goes.
|Make||Model||Type of Pilot||Hull Value||Premium|
|Diamond||DA62||Owner Pilot Transitioning from Cessna 182T||$1,400,000||$23,000|
|Honda Jet||Elite||Owner Pilot 73 Years Old||$4,500,000||$65,000|
|Cirrus||Vision Jet||Owner Pilot w/ 500TT transition from SR22||$3,000,000||$61,000|
|Cessna||T206H||Owner Pilot Experienced||$857,000||12,000|
|Daher||TBM 910||Owner Pilot 71 Years Old||$2,900,000||$33,000|
|Pilatus||PC-24||Dual Pilot Pilots less than 1,500TT and new to PC-24||$14,000,000||$50,000|
|Citation||Sovereign+||Pro Pilot Experienced, A Lot of Claims||$9,500,000||$55,000|
|Bell||505||75 Year Old Pilot, Liability Only||$5,500|
|Bell||429||Pro Pilots Experienced||$8,000,000||$125,000|
|Piper||M600||Owner Pilot Experienced||$2,500,000||$29,000|
|Pilatus||PC-24||Pro Dual Pilots||$14,000,000||$53,000|
What We’ve Learned from Top Stories in 2023 Insurance:
- AIG has reported its Q4 2022 and full year results, with underwriting income having nearly doubled for the year – insurance companies are making more money but reinsurance costs are also going up
- Phenom and TBM Insurance Claims Survey – The median insurance cost for the Phenom 100 is $28.6K for the 100s, and $48.3K for the 300s
Good luck in 2023 and let’s do some deals!
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.