Insurance Tips for Aging Pilots
– Fly often. Underwriters know that rust means more risk.
– Be realistic when it comes to upgrading to advanced aircraft.
– Don’t jump from insurer to insurer. Loyalty counts.
– Take an aggressive approach to training.
– Complete an IPC even if you don’t need it for your missions.
– Consider a simpler aircraft with lower liability limits.
– Old age and multiple wrecks isn’t a favorable combination.
When we last looked at insurance for older pilots, the insurance market was in the midst of a soft market cycle, or at least we thought it was. Almost four years later, there are even more insurers than there were then.
As the GA fleet in the U.S. continues to gradually shrink, there are more insurance dollars chasing fewer airplanes. As a result, rates and underwriting guidelines are even softer now than they were then.