Aircraft insurance

Insurance Basics

• No plan to purchase an aircraft is complete without a call to the insurance agent. Your choice of aircraft can be directly effected by the cost and availability of insurance. Your ratings, hours, andtime in make and model will determine the cost of the policy. If you are a student pilot trying to purchase a cabin class twin you will soon learn although with factory training you may be able to obtain coverage it will cost you dearly! What they're trying to tell you is you're not qualified for that much aircraft. Some clients will purchase more aircraft than they're qualified for by hiring a pilot who is.
• They then add ratings and hours in the aircraft until they're qualified. This approach can be expensive and difficult since you have to take your pilot on every trip and ether put them up or let them drop you off and return to pick you up. Its best to buy what you're qualified for based on your current experience and move up as you gain hours and ratings. General guidelines are; a student pilot or better without an instrument rating and minimal hours, in a four place fixed gear single; a private pilot with an instrument rating and 200 hours including some retract time, in a high performance single; a private pilot with multi  and instrument ratings and over 200 hours including multi time, in a non pressurized light twin; a private pilot with multi and instrument ratings and over 500 hours including multi time and factory school, in a cabin class twin. Turboprop aircraft will require a highly rated pilot with many hours in multi engine  aircraft and factory school about every two years. Jet aircraft will also require a type rating.
• Give us a call if you have questions about your experience and the type of aircraft you're considering.