Aircraft Insurance
Thread Starter
Join Date: Jul 2009
Location: Manchester
Age: 36
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Aircraft Insurance
Hello people,
I have a project to complete and could do with knowing the average insurance costs of a couple of aircraft. The 777-200 and the dash 8 Q400. I'm finding it difficult to find any average prices,.
Any suggestions would be welcomed.
Thanks
I have a project to complete and could do with knowing the average insurance costs of a couple of aircraft. The 777-200 and the dash 8 Q400. I'm finding it difficult to find any average prices,.
Any suggestions would be welcomed.
Thanks
Nemo Me Impune Lacessit
Join Date: Jun 2004
Location: Derbyshire, England.
Posts: 4,098
Received 0 Likes
on
0 Posts
You won't find 'average prices'.
There are a multitude of variables when it comes to assessing an aircraft as an insurance risk, in no particular order:
1. Who owns it, do we, (the Underwriters), know them.
2. How much have they got on risk with us already.
3. How big is the fleet? ( What is the annual premium income)?
4. How long have we insured them? (How much is already in the 'pot')
5. How much of a deductible (excess) will they accept?
6. What is their claims record?
7. Where do they fly to?
8. Are they properly regulated by a recognised authority?
9. How well are they managed?
And the list goes on. When I last looked a respectable airline with a fleet value measured in Billions they paid something like 0.3% of fleet value for Hull insurance. War risks and liability insurance were another matter but if you had USA exposure then passenger liability would be measured in millions per seat and your premium would be calculated accordingly.
For obvious commercial reasons, (insurance is renewed each year and fiercely contested by the major brokers), individual airline rates are not published.
There are a multitude of variables when it comes to assessing an aircraft as an insurance risk, in no particular order:
1. Who owns it, do we, (the Underwriters), know them.
2. How much have they got on risk with us already.
3. How big is the fleet? ( What is the annual premium income)?
4. How long have we insured them? (How much is already in the 'pot')
5. How much of a deductible (excess) will they accept?
6. What is their claims record?
7. Where do they fly to?
8. Are they properly regulated by a recognised authority?
9. How well are they managed?
And the list goes on. When I last looked a respectable airline with a fleet value measured in Billions they paid something like 0.3% of fleet value for Hull insurance. War risks and liability insurance were another matter but if you had USA exposure then passenger liability would be measured in millions per seat and your premium would be calculated accordingly.
For obvious commercial reasons, (insurance is renewed each year and fiercely contested by the major brokers), individual airline rates are not published.
