Airplane Insurance Trend Could Be Bad for Us All

Airplane insurance may be a first world problem, but it could end up signaling a bad trend for us all.

Friday, January 05, 2024 at 05:53 PM ET

Verified

The latest trend in airplane insurance, although admittedly a first world problem, doesn't look promising for GA pilots.

Key Takeaways:

Aviation insurance is presented as the most significant and restrictive challenge for aircraft owners, even more so than government regulations.
The current insurance system is criticized for its opacity, relying on brokers as untrustworthy intermediaries who prevent direct communication between pilots and underwriters, leading to constant premium increases.
Despite its flaws, insurance is acknowledged as a vital necessity for aircraft owners to protect against significant financial and liability risks.
The author advocates for reforms allowing direct interaction between pilots and underwriters to present qualifications, believing this could lower perceived risk and premiums, and calls on other aviation industry stakeholders to support this change.

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My dearest fellow pilot,

Don’t you hate it when your backup camera is fogged up in the morning so you have to actually look in your mirrors to see what’s behind you like some kind of “depression era” truck driver? Or when the headlights of the truck behind you hurt your eyes when you’re in your Lotus GT? Yeah, me too. First world problems, eh? Why, just this morning it took me forever to find the end of the Scotch tape roll.