The market for aviation insurance continues to be soft—perhaps very soft. There are simply too many aviation insurance companies offering to sell policies, relative to the number of aircraft owners looking to buy them. And each of these too-many companies is trying to keep the customers it has, and to grow by taking customers away from one of the other companies.
This is good for you, of course, because it means you could score rates cheaper than we’ve seen in years, plus have a better chance of getting covered to fly a complex machine. But it isn’t exactly a free-for-all. There are still some gotchas in the aircraft insurance world you need to know about. In this article we’ll cover them and take a fresh look at the market and what it might cost for a policy.