The uncomfortable silence on the other end of the line was enough to tell me that I had just squashed all the joy and excitement from this soon-to-be turbine pilot by sharing the $60,000 quote we obtained for his new turboprop purchase. “But the sales rep told me the premium would only be $30,000-$35,000,” he finally retorted. Famous last words…
That premium may have been accurate for a well-qualified professional pilot flying this aircraft in a corporate environment but not in these circumstances. This client, while a respectable private pilot with nearly 1,000 hours and instrument rated, lacked retractable gear time and was transitioning from a single-engine piston. Compounding the issue, he was only two weeks away from closing when he sought an insurance quote, leading to a premium double his expectations.
