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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:
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.
Q. Can I commute with an airplane? I have always wanted to get my private pilot’s license. I was offered a new job, but it is two hours away from my house. I was thinking of getting a license so I can fly instead of drive. Am I being unrealistic? I know I would need to have a backup plan for driving for when the weather is unfavorable and a place to stay near my new job. But the idea sounds like more fun then setting in traffic.
A. It can actually be a great idea, although it might not save you as much time as you think. I have a few customers that do exactly what you are talking about and they really like the arrangement. Problem is, it often takes more time to get the plane out, fly and put it away than it would to drive the distance.
Also, to make it a success you will probably need to get instrument rating. There will be some days that there is just enough weather to keep you on the ground when you could still be flying.
But really, even if it takes longer, I cannot think of a better commute!