Have things started to get volatile in aircraft insurance again? Make Model Type of Pilot Hull Value Premium % Move Gulfstream G650ER Pro Pilots New to Gulfstream $60,000,000 $130,000 NEW Cirrus SR22 Private Pilot working on Instrument + Dry Lease to another Pilot $865,000 $16,000 NEW             Daher 960 Owner […] The post Aircraft Insurance Outlook – August 2024 appeared first on Sunset Aviation Insurance ..read more

What are the most common topics for aircraft insurance today? Make Model Type of Pilot Hull Value Premium % Move Piper Jetprop Owner Pilot 2,000 Total Time; New to TP $1,100,000 $16,000 NEW Diamond DA62 Owner Pilot Experienced but new to DA62 $1,600,000 $25,000 NEW Daher TBM 700 Owner is Student Pilot excluded; Pro Pilot […] The post Aircraft Insurance Outlook – July 2024 appeared first on Sunset Aviation Insurance ..read more

The market has gone flat – ??? We’re still getting a lot of calls from aircraft owners out there getting increases in premium this year. Why is that? Probably because their premium is somewhat competitive or their broker hasn’t been able to attract competition Soft areas of the market: Low limits – sub $2,000,000 hull value and liability $2,000,000 is easy for all 20+ aviation insurance companies to quote.  Flat areas of the market: Mid to High limits – $2,000,000 to $10,000,000 hull value and the number of insurance companies drops to 12. Hard areas of the market: High limits – $10,000 ..read more

What’s going on with Aircraft Insurance? We’ve heard a lot about competition and the aviation insurance market turning towards a soft market, which is true, but it’s also a bit divided. Soft areas of the market: Low limits – sub $2,000,000 hull value and liability $2,000,000 is easy for all 20+ aviation insurance companies to quote.  Flat areas of the market: Mid to High limits – $2,000,000 to $10,000,000 hull value and the number of insurance companies drops to 12. Hard areas of the market: High limits – $10,000,000 to $70,000,000 hull value and the number of insurance companies realist ..read more

The Name of the Game is relationships Hard areas of the market: TVPX Aircraft, High Hull Value with Heavy Long Distance International Exposure, Foreign Owners, Dealer Brokers Looking for Short Term Policies without prior insurance company contacts. The more unique the risk the harder the market. Soft areas of the market: Pretty much all US operations and normal stuff Aviation Insurance companies continue to compete for a broader range of risks The trend remains in a small decline but the bottom will be sooner and higher than before.  You often times get reductions in premium when there ..read more

Our latest insurance market update offers insights into the first quarter of 2024 and what clients can anticipate for the remainder of the 2024 year. A busy Heli Expo has recently come to completion, which was packed with aviation insurance underwriters jockeying for position to maintain business. Numerous aviation insurers are committed to maintaining or expanding their market presence and continuing to compete for high premium accounts. The biggest area of increased competition and capacity in aviation insurance is in the quota share follow lines So you get a company like Starr, USAIG ..read more

Things are heating up in aircraft insurance. Let’s GO! January and February are slower months for us and a time to reflect and create new goals for 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 ..read more

Happy New Year 2024. Problem, Solution, Repeat Aviation Insurance continues to stabilize with 4 new aviation insurance companies in 2023 Toughest/Hardest/ Highest Rates Areas of the Market: 70+ 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 Advice: The best way forward is to maintain a close relationship with your aviation insurance broker and ..read more

The new aviation insurance companies are starting to get COMPETITIVE! Check out these rate reductions IAT has been very competitive for Owner Flown Single Pilot Turbine, Pilots must be less than 70 years old for new business though Mach 2 is a good new market for aircraft less than $3,000,000 and Student Pilots, Transition Pilots Eiger Insurance is good for older aircraft, unique flight operations, Helicopters, Student Pilots, Transition Pilots Applied Underwriters has brought good capacity to the market for Quota Share follow and Turbine Aircraft, Pro Pilot, Single Pilot, Part 91 Operations ..read more

What are the hardest areas of the aviation insurance market? 70+ Year Old Pilots is for sure #1 Transition Pilots from a Light Aircraft into an Expensive Turbine Transition pilots into Expensive Aircraft with less than 1,000 Total Time or Low Time in General Piaggio, Epic LT (Experimental), Lancair There’s new aviation insurance companies BUT they’re starting out conservative. In August’s Market Update, we reported that there were 3 new insurance companies, but that total has now grown to 4 with a new entrant. These companies have started out slow and conservative but will eventually, with t ..read more