Home » Aircraft Insurance Update – January 2023

Aircraft Insurance Update – January 2023

Posted By Benjamin Peterson

Published December 27, 2022

Recent Aircraft Insurance Quotes

Quick market update for aircraft insurance in December.

  • More insurance companies have been renewing their reinsurance; rates have been increasing significantly for insurance companies to purchase insurance for themselves; Likely to expect further rate increases in 2023
  • Lately we have just been seeing increases for low value and older piston aircraft
  • There’s still competition among insurance companies for high quality accounts with low to no losses within the past 5 years
  • The HAI Aviation Insurance Working Group (AIWG); first meeting was 12/14. A lot of the talk was emphasized on how aviation insurance companies don’t share loss data as other insurance sectors – NBAA recently did a Insurance Claims Survey to try and get loss data from POPA, MMOPA, CJ, TBMOPA, and Vision Jet Owners COPA – We have yet to receive this survey data – TBD
MakeModelType of PilotHull ValuePremium
CirrusSR-22Owner Pilot 70 Years Old, PRIV and Basic Med$550,000$15,000
Robinson R44 Raven IIPro Pilot Experienced but new to R44$700,000$41,000
Cessna210Experienced Pilot$200,000$4,000
PiperMeridianOwner Pilot Experienced; Retired Airline; 69 Years Old$1,200,000$15,000
PilatusPC-12Upgrading from a Cirrus SR22; Low Time Transition Pilot; Dual Pilot for 100 Hours$4,800,000$37,000
CitationCJ4Pro Pilot Experienced$4,400,000$27,000
Cirrus SR20PRIV working on INST$400,000$9,600
PiperM600Owner Pilot Experienced$2,500,000$29,000
PilatusPC-24Pro Dual Pilots$14,000,000$53,000
EmbraerPhenom 300Pro Dual Pilots$13,000,000$49,000
DiamondDA40Father 70 Years Old; Son is Student Pilot$600,000$12,000
Bell505Heli being put into a container out of LA and shipped to Turkey to be based on owners 180’ Yacht; Pro PilotsLiability Only$30,000
Bell505Same Yacht rich guy with hull coverage$1,250,000$125,000
Aircraft Insurance Quotes, January 2023

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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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