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DID YOU KNOW adding a low time pilot could take longer than expected?

LRingeisen

Well Known Member
We have noticed an increase in clients that want to add lower time pilots to their policy. We try our best to get these pilots added on to the current policy; however, sometimes it’s just not possible. That doesn’t automatically imply that we cannot get it done as there may be some alternate options. On occasion, we may have to cancel and rewrite a policy with a different company because the current carrier is not a market for low time pilots. This isn’t unusual since the current policy was written based on the current list of named pilots. Any time you request a change to an existing policy an additional cost could occur if it affects the risk currently in effect. Also keep in mind the rates are based on the lowest time pilot. They could have more total time; however, if their specific make and model experience is less, this could cause in increase depending on the insurance company’s underwriting guidelines. It could also take longer to get a pilot change approved if we need to check other companies. It’s always best to give your broker at least a few days’ notice before requesting a change to the current coverage.

Each company has their own underwriting guidelines for minimum total logged pilot hours along with specific make and model requirements. We will always do our best to get a pilot approved; however, if we are dealing with a brand new pilot, an older pilot or a pilot with recent loss history, there is a chance we may not be able to get it approved or there could be a significant increase in the premium. The market changes constantly; however, as of right now you need about 200 hours total time to get a reasonable quote in a Vans (300 if it’s a Vans RV-10). Many companies require the pilot to have 25 hours of tailwheel time for the conventional gear RV models. The pilot requirements for the RV-8 have become even more strict as some companies are now requiring logged hours in an RV-8 prior to offering quotes. This is the same with the RV-10. Since it has 4 seats, the insurance companies consider it a higher liability risk, so having some time in the make and model will be beneficial as well.

Each insurance company is different so requirements vary. These are just suggested hours and there can be ways your broker can negotiate with the underwriters on a case-by-case basis depending on the situation. Just be prepared that you may run into some obstacles that may not have been an issue in the past when you try to add a low time pilot.

We hope everyone is staying safe during this difficult year.
 
Leah, I appreciate your input and observations on the current insurance market. I watch it very closely these days as my 70th birthday looms. Not sure how that will affect the AIG renewal rate on my RV-9A, but I do view it with some apprehension. Thank you for participating here.
 
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