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:

Aircraft insurance is identified as the primary restrictive force in general aviation, surpassing government regulations and other global authorities.
The current insurance system is heavily criticized for its opacity, the ineffective role of brokers as middlemen, and the lack of direct communication between pilots and underwriters.
Pilots face escalating premiums, arbitrary denials, and questionable justifications from insurers, leading to frustration despite the necessity of coverage to protect valuable aircraft and mitigate liability risks.
The author advocates for systemic reform to allow direct pilot-underwriter interaction, believing this could lower premiums by accurately assessing pilot qualifications, 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.