Category Archives: airplanes

Cost to Own

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How much does it Cost to Own an aircraft?

This YouTube video covers a few basic things to think about when figuring the ownership costs of an aircraft.

When buying or owning an aircraft I think its important to understand where the money goes.  There are numerous variables that can effect the operation costs of an aircraft. The purchase price is not always the most important.  Often times the operational expenses are what keep owners grounded.

For example, you can often buy an old light twin for the same price as a single engine. But the operational costs are going to be four times as much or more, even if the purchase price was the same.

If you do some preliminary calculations, you can establish a budget and setup guidelines for what type of aircraft is within your financial capabilities.

Check out the video. And if you want a copy of a cost spreadsheet. Send me an email and I’ll send you a copy.

 

 

Potential Hurricane

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Potential Hurricane

The Potential Hurricane Dorian is heading towards Florida.

Do not let your insurance lapse!

After a hurricane watch or warning is issued, insurance companies typically issue a moratorium on binding new policies or making any kind of policy changes.

This moratorium can remain in place even after the watch or warning is canceled.

The storms projected  path –

Potential Hurricane

Aviation insurance rates on the rise!

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Aviation insurance rates on the rise!

Aviation insurance rates are on the rise. For years the aviation insurance market has been pretty slow in increasing the premiums.

But if you have followed my posts and articles, you will know that in the past year rates have been going up and it doesn’t look like it will stop anytime soon.

There are lots of reasons why the increases could be happening: from airline crashes, general aviation crashes, bad weather, to the financial markets. Whatever the reason for the increases. Here are a few things you can do to manage your insurance premium:

  1. Make sure your broker has your most updated and accurate pilot hours.  Keep flying and putting on hours. It’s an excuse to fly.
  2. If you have hull coverage, re-evaluate the insured value of your aircraft. Are you insuring it for enough or too much?
  3. Get that advanced rating. While an instrument might not save you a huge percentage, it might open the market for more options.
  4. Keep it simple. Some of the best insurance rates are on fixed tri-gear aircraft. Thinking of moving up to a retractable gear or tail wheel aircraft, be prepared that the insurance rates are going to be higher.
  5. If you are an older pilot don’t let your insurance expire (lapse). Age is also a barrier to getting insurance coverage.

And as a final thought, please note, Insurance Agents/Brokers don’t have any control over the rates of the insurance companies.  There’s the old saying, “Don’t shoot the messenger”, and that applies here.