How a Pilot’s Age Affects Aviation Insurance

We continue to run into situations where we receive requests from well-qualified pilots who have flown the same aircraft for years with no claims but are having a hard time obtaining aviation insurance. We also have instances where existing clients have trouble getting renewed at a certain age.

While age is not the only factor considered when evaluating risk, it has become more of a factor now than in the past. One of the reasons, based on the interpretation of data over the years, is that the average payout is higher for pilots over the age of 70. It is not due to a higher frequency, but rather, the amount of payout per loss. 

As insurers analyze their data, there is a smaller number of pilots over 70, so one large loss can eliminate years of positive data for that age group. 

As tempting as it may be, changing carriers regularly to save a few dollars doesn’t always get the result that a pilot may hope for. A pilot who has a long claims-free record with a company may be viewed as a lower risk than a pilot who has been with an insurance company for only one year. Also, keep in mind that the requirements today aren’t written in stone and may change over time depending on a carrier’s appetite for risk changes. 

Also, maintaining documented proficiency will always help the decision makers. Regular, frequent training along with a solid 12 months of hours demonstrates a pilot’s willingness to maintain safety as a priority.