Ultimate Issue: Staying Insured Encompasses Training, Loyalty, and Downsizing

Some guidance from those who approve the aircraft policies and pay the claims.

Friday, July 26, 2024 at 08:55 AM ET

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Before making a deal on any turbine aircraft, have a real talk with your insurance broker on the realities of getting the coverage you need, training requirements, and the ability to stay insured as you age. [Courtesy: Textron Aviation]

Key Takeaways:

Surviving the hardened aircraft insurance market hinges on three key factors: consistent quality training, long-term loyalty to an insurer, and a willingness to downsize to simpler aircraft as needed.
Underwriters scrutinize pilot age, experience (especially transitions to complex aircraft like turbines or tailwheels), and the type of aircraft, with older, highly modified, or rare planes also facing higher premiums or uninsurability due to valuation and parts issues.
Pilots can improve their insurability by proactively investing in recurrent and type-specific training, providing detailed proof of aircraft upgrades and maintenance, and maintaining a solid flight history and relationship with their current insurer.

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There are three key elements for surviving a hardened aircraft insurance market—training, loyalty, and downsizing.

It’s no secret that pilots of complex and high-end aircraft have been dealing with the trend of higher rates and even non renewed policies, especially older pilots and those with limited experience in type. But that doesn’t necessarily mean you have to sunset your flying career once you reach 70—the point in life where underwriters consider you a “senior” pilot. Moreover, with a savvy approach, some compromises and hard training requirements, insurance can be available for younger and green pilots stepping into tailwheels and turbines.