LRingeisen
Well Known Member
For the past year or so, we have been discussing rate changes in the insurance market. We’ve explained that we have been seeing some carriers giving up to up to a 30% increase. While this effects all aircraft types, our Vans clients with a RV-8, RV-10 or RV-12 have been largely impacted. Our lower time pilots, ie: low tailwheel time and/or low make and model time pilots are usually affected more so than others. We’ve also noticed significant increases for our older pilots. We can’t promise what the rates will be in the future, but gaining time in your specific make and model can make a world of difference when it comes to getting quotes. The more time you have in your specific aircraft, the more options we have available to quote.
We wanted to share the article below from one of the carriers, Global Aerospace. In this article, they focus on how premiums are determined, reasons behind premium increases and what a pilot can do to help mitigate those changes. Hopefully it may help to give some additional insight in the insurance market. Please note that this is an educational piece and all the insurance carriers are giving these same increases.
https://www.global-aero.com/why-lig...il&utm_medium=blog&utm_campaign=lightaircraft
We wanted to share the article below from one of the carriers, Global Aerospace. In this article, they focus on how premiums are determined, reasons behind premium increases and what a pilot can do to help mitigate those changes. Hopefully it may help to give some additional insight in the insurance market. Please note that this is an educational piece and all the insurance carriers are giving these same increases.
https://www.global-aero.com/why-lig...il&utm_medium=blog&utm_campaign=lightaircraft