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We are working on gathering data for an updated Phenom 100/300 Insurance Survey. Please contribute your current information and we will share the data later in the month.

https://www.surveymonkey.com/r/8X3QDCB

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Not clear what the difference is between #8 and #9, but it's not letting me put an answer into #9 anyway (just says: The comment you entered is in an invalid format.) even though I formatted like the example...

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Not clear what the difference is between #8 and #9, but it's not letting me put an answer into #9 anyway (just says: The comment you entered is in an invalid format.) even though I formatted like the example...

Fixed! Thanks.

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Done, thank you!!

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I’m done too. In the insurance premium change year on year, there was only an increase option, not a decrease. Mine was lower than the prior year, so I just selected 0-10% increase, but that could mess up how the numbers are interpreted.

Thanks for putting this together!

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My renewal quotes will come in at the end of January, I guess that means I missed the cutoff for the survey?

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If you haven't filled out the insurance survey, please do so soon, so we can share the information. Thank you, (Username Protected)

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This was a great idea, just wondering when the data is planned to be available?

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Results will be out Monday, (Username Protected)' last email generated more responses so we gave it a few more days.

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Here are the results. (Username Protected) will provide a summary.

[Username Protected]

Thank you to everyone who responded to the survey. We had 71 responses, almost equally split between Phenom 100s and 300s.
As you'll see, most of those who responded are owner operators 83%, and 60% of the time, the a/c are operated single pilot.
The median insurance cost for the Phenom 100 is $28.6K for the 100s, and $48.3K for the 300s.
50% of us were able to keep their insurance increase to less than 10%. Some saw significant increases.
See the link for the full rundown.
...and anyone that wants to look at the anonymous raw data, please email Joy at [email protected]
Thank You Joy for pulling this together.
PP Insurance Survey 2022.pdf

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Thank you for pointing that out. We will revise next year and hopefully, many others will see a decrease.

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(Username Protected) - any data on fleet policies? Ave cost, increase etc? In other words, is there any benefit to being part of a Part 91 Management group?

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(Username Protected), great question. I'm looking at the raw data I don't think I'll be able to sort it without guessing. (some non-owner operated aren't necessarily in a fleet). I will add it to next years. the fleet programs, from my experience does two things, lower costs and more coverage.

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I just recieved an insurance quote to cover the jet for five weeks while in South America. The added cost for just 5 weeks, $7500 plus a $500K deductible. Is that insane or am I out of touch?

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(Username Protected), two weeks in South America (Mexico, Costa Rica, Ecuador, Peru, Chile) August 2022 cost us $2000 for our ~$2m hull P100, so 3.75x the insurance cost unfortunately sounds inline for a P300.

edit: but yes, I also though that was insane given that amount was 2x per week what we pay in the US. I did not feel like we were 2x as likely to have a hull loss…

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To add Mexico to our policy was only a few hundred.

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Can we share the results of this survey with the other OPAs? I would be great to compare all the aircraft who participated in the survey!

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Yes, if you need the raw data, email Joy at [email protected]

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CJP is scheduled to share their results during the NBAA Owner Pilot Association Coalition (OPAC) on February 27th.

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Please feel free to share with them. Thank you, (Username Protected)

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Here's the results from Misty Stanistreet at TBMOPA

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(Username Protected) (and anyone else with insurance knowledge), from one of those TBM responses, it seems like insurance paid for pilot error (unstabilized approach), and we know many Phenom overruns in particular due to pilot error, whether it be in poor speed/touchdown point management or even performance calculation error (e.g. going into a short wet airport). Is there any scenario in which a pilot error wouldn’t be paid out?

If an owner hires a pilot, I get the idea that you want to be insured against that person making an error. However, if owner flown is there a scenario in which the owner could waive the right to be paid out if it is his or her error in exchange for a cheaper premium?

I’m wondering if there is a market for an insurance policy that will cover non-pilot risk (FOD, birds, mechanical, etc), but if the owner wants to take on their own risk, the policy would not pay out for unstablized approaches or mathematically impossible runway choices. Or to take the concept further, could an owner be insured against their personal minimums, for instance if the owner only chooses to fly at airports with 6000’ ft runways or greater, presumably the overrun risk is lower and could result in a cheaper policy?

If it’s a grey area (owner claims approach was stable but got hit with windshear and couldn’t escape) that should all be eventually provable or disproven by NTSB. So policy holders might have to be comfortable not getting paid for 2 years, but anyone choosing this option would be self-insuring their own error risk anyways so they’d presumably need to be in a financial position where they can buy a new airplane anyways, and hope they get reimbursed if it’s proven it wasn’t pilot error, or swallow the cost of its proven it was pilot error.

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Negligence is covered by the insurance policy for pilot error related claims. Aircraft insurance policies have never had exclusions for pilot error because it's too hard to prove. NTSB reports are different than how lawyers are going to litigate and insurance claims can be quite complex as is. If you want to save money and take on a bigger exposure yourself, higher deductibles is the way to do it.

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They asked some good questions we didn't ask and can include next year.
Did they share anything on cost of insurance?

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That's all that was provided by TBMOPA, but I agree it would be great to have a more comprehensive survey. I followed up with Misty at TBMOPA to see if there were any additional details available.