Insuring Your Ideal Aircraft: Bracing for the Ups and Downs

Last year’s hull value means little at renewal time.

Jonathan Welsh

Monday, December 04, 2023 at 11:32 PM ET

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Having renewed my insurance, I can focus on enjoying my aircraft. [Credit: Jonathan Welsh]

Key Takeaways:

The author experienced significant frustration during their first aircraft insurance renewal, facing a surprising 26 percent reduction in the insured hull value for their Commander 114B, "Annie."
This reduced valuation clashes sharply with the currently soaring used aircraft market, making the author feel they would be unable to replace their aircraft with a comparable model if a total loss occurred.
Shopping for alternative insurance proved unhelpful, with brokers suggesting staying with the current insurer despite the unfavorable terms, partly due to the challenges of insuring an "orphan" aircraft type.

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Time certainly flies. It feels like we just moved Annie, our Commander 114B, into her new hangar, but in fact we are commemorating our first year of aircraft ownership. While recalling interesting destinations, challenging flights, and beautiful scenery brings us great joy, not every detail about hitting the 12-month mark warrants celebration.

Yes, I am talking about insurance renewal.