[Username Protected]

Hey Guys,
I do a monthly aircraft insurance market update and here’s the January 2024. I think this will be a good way to keep everyone updated.

-Aviation Insurance continues to stabilize with 4 new aviation insurance companies in 2023
-Higher Rates Areas of the Market: 75+ Year Old Pilots, Old Aircraft Pre 1985, No Current or Previous Relationship with Aviation Underwriters
-What’s Changing? Lower Time Transition Pilots into Turbo Props or Turbo Jets is Getting Easier to Insure; ie) 800 Hours Total Time Pilot Transitioning from a Diamond DA62 into a Phenom 100

[Username Protected]

I just got done doing the Aircraft Insurance Outlook – February 2024.

• The aircraft insurance market is starting to heat up with competition. Check out the below % move and you’ll see some price reductions that have been foreign to us for the past five years
• Changes in the market: Beacon Aviation Insurance has a new 6 month policy program for transition pilots into expensive aircraft where they can be re-rated or shopped after 6 months so they’re not stuck into a 12 month policy with higher rates
• Changes in the market: Rokstone Underwriting will bring in more new aviation insurance competition with senior underwriters from Starr and AIG

[Username Protected]

Here’s the March 2024 - Aircraft Insurance Outlook.

• It’s crazy to see that we’re now in “soft market” for aircraft insurance. The additional capacity and competition has shifted the trend in aircraft insurance rates where we’re now seeing reductions almost across the board.

• The 70 year old age threshold that underwriters were picky about two years ago has increased to 75.

• A few areas of continued hard market is very low time pilots (sub 1,200 hours) in expensive aircraft like Phenom 300s, Citation CJ4, Pilatus PC-24, Honda Jets, Bell 505 and 407.

[Username Protected]

Very interesting, our King Air 360 is more expensive that our Phenom 300E…

[Username Protected]

(Username Protected),
I would probably start with asking pilot qualification related questions but I think you can make some improvements on your renewal.

[Username Protected]

(Username Protected)-
Very hard to draw a comparison when valuation, limits, overall risk/pilot information is not part of the comparison. I do know KA360's are getting pricey to insure single-pilot in the P91 sector. Jets typically have different rating tables versus turbo-props with most underwriting carriers as well. So to draw an accurate comparison a LOT more information would need to be reviewed from each underwriting file. It isn't necessarily an outward assumption that one aircraft is 'paying too much for insurance' versus the other. I'd start by peeling back the onion with your broker and have them address that question head-on. Generic information on a website is usually not a good place to draw an assumption on coverage or placements. Best to you~

[Username Protected]

We we all over 3000 hrs, and approximately 1500-2000 hrs on E55P…We busy with that….

[Username Protected]

What is strange, the two aircraft were for more than 4-6 years on par. In the last 2 years, the KA360 just skyrocketed

[Username Protected]

Hi (Username Protected),
It looks like you're based in South Africa. The rates that I have indicated are for US N-Registered aircraft insured by US Aviation Insurance companies where we have a lot of new competition that has entered the market and recently reversed the trend to a soft market in 2024. The way I look at insurance rates is a percentage of the hull value. For Single Pilot with a high hull value, I use 1% as a bench mark. Very well qualified pilots may be a little less, like 0.8%. Also any hull value over $5,000,000 and it will likely be Quota Share, meaning there's two insurance companies taking a 50/50% share for a total of 100%.

The type of aircraft that currently fall within this 1% hull rate single pilot operations are:
-King Air 360
-Phenom 100 and 300
-Citation CJ3+ and CJ4
-Pilatus PC-12 and PC-24
-Daher TBM 930 and 960
-Piper M600 and M700
-Epic E1000GX
-Honda Jet
-Cirrus Vision Jet