Recent Aircraft Insurance Quotes
We’ve seen the aircraft insurance market start to flatten recently. Policy premium increases are slowing down, with the exception of pilots with policies that were below market rates. Some pilots with great resumes have actually seen declines in premiums.
Aircraft inventories have continued to increase slowly, however they are still very low compared to the norm. Despite inventory levels increasing, prices have also been increasing. Here’s some recently quoted aircraft insurance rates.
|Date||Make||Model||Type of Pilot||Hull Value||Premium|
|Nov. 2022||Cessna||206||PRIV and INST, 1,000 Total Time||$500,000||$4,000|
|Nov. 2022||Cirrus||SR22||PRIV and INST, 250 Total Time||$350,000||$4,500|
|Nov. 2022||Cirrus||SR20||PRIV working on INST||$400,000||$9,000|
|Nov. 2022||Piper||M350||69 Year Old Owner Pilot with less than 1,500 Total Time||$1,500,000||$22,000|
|Nov. 2022||Pilatus||PC-12||Pro Single Pilots Experienced with High Liability Limit||$4,100,000||$26,500|
|Nov. 2022||Citation||CJ4||Pro Single Pilot Experienced with High Liability Limit||$4,400,000||$26,500|
|Nov. 2022||Citation||Mustang||Owner Pilot Experienced with Make and Model Time||$2,300,000||$28,500|
|Nov. 2022||Daher||TBM 850||Owner Pilot Experienced||$3,250,000||$30,000|
|Nov. 2022||Piper||M600||Owner Pilot Experienced||$3,300,000||$33,000|
|Nov. 2022||Pilatus||PC-12||New Pro Pilot upgrading from Cirrus SR22; dual pilot for first year||$4,800,000||$37,000|
|Nov. 2022||Diamond||DA62||Owner Pilot, PRIV INST working on ME, Low Time, Flies to Mexico a lot||$1,600,000||$60,000|
|Nov. 2022||Bell||505||PRIV with 200 Total Time and 100 in Bell; also fractional ownership||$2,000,000||$65,000|
|Nov. 2022||Phenom||300||Owner Single Pilot Experienced, 66 Years Old and High Liability Limit||$7,000,000||$70,000|
|Nov. 2022||Phenom||300||Pro Single Pilot Experienced with Very High Liability Limit||$8,500,000||$90,000|
What We’re Talking About
There’s an aviation saying that goes, “There are OLD pilots and there are BOLD pilots, but there are no OLD BOLD pilots.” We recently published an article to help 70 Year Old Pilots navigate the aircraft insurance industry along with Tips, Risks, and Pricing. What type of planning should be done when a pilot approaches 70 years old and wants to continue their flying careers into their 80s? An insurance company’s risk tolerance for 70 year old pilots is based on a case by case basis which often is a combination of previous claims or loss ratio, experience in previous years leading up to 70, and focus or emphasis on safety. Check out our article to learn how to prepare and what to expect.
Recent Aviation News
Wings Over Dallas Airshow mid-air collision leaves 6 dead after a World War II bomber – Boeing B-17 Flying Fortress – and fighter aircraft – Bell P-63 Kingcobra – crash. There haven’t been reports of anyone on the ground being injured. NTSB is investigating the crash. To me, it looks like the low wing fighter aircraft lost sight of the B-17 bomber while in a steep banking turn.
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.