That headline is pretty much the same as it was when we took a look at the hardened aircraft insurance market a couple of years ago. At the tail end of 2023, owners, underwriters and aircraft sales pros still tell us that senior pilots (aged 70 and older) and inexperienced pilots are attention-getters when it comes to specific types of aircraft. Here’s a quick overview and some tips for policy shopping.
LOYALTY MATTERS
If you’re considered a high risk and you have a policy for the airplane you want to fly, now is not the time to jump carriers. This could mean paying more than you want. Luke Barnette, an underwriting manager at Avemco (perhaps among the more flexible in the market), pointed out that while the company isn’t going out of its way to drop its higher-risk clients (including senior pilots, as many companies are doing), there are some that the company simply won’t insure.