Page 10 - Jan25

INSURANCE
Navigating the Changing Tides of the King Air Insurance Market
by Kyle White
The King Air insurance market has been on a tumultuous journey over the past several years with plenty of unexpected twists and turns. This has not necessarily been the most expensive hard market the King Air community has navigated through, though it has certainly been the longest. Since 2018, most of you have likely seen reduced coverages and increased premiums with each renewal. It was considered a ‘win’ if you could keep your rate flat. In the May 2018 issue of King Air magazine I wrote that the soft market had come to an end in 2017. Finally, almost seven years later, we see a promising shift on the horizon: We expect 2025 to bring a softening market.
Many King Air owners remember a time when insurance was more favorable. Higher liability limits, flexible training options and minimal price differences between FAA Part 91 and Part 135 operations were the norms. Upgrading from a Baron to a King Air was a
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straightforward process, with few hurdles to overcome. Unfortunately, the landscape has changed significantly due to various factors, including rising aircraft values and the increasing costs associated with parts and labor for repairs.
JANUARY 2025