June 9, 2007
The AOPA Insurance Agency reports that insurance rates on many aircraft have fallen as much as 10 percent in recent weeks, thanks to increased competition and a solid general aviation safety record.
Two carriers have announced significant decreases in premiums on certain GA aircraft, and more insurers are expected to follow with price reductions in the near future, according to Greg Sterling, general manager of the AOPA Insurance Agency.
"We expect this downward trend to continue," Sterling said. "New carriers are entering the GA insurance market, bringing new competition. At the same time, general aviation continues to show a solid safety record. The combination of those factors is creating downward pressure on prices—great news for pilots who are concerned about the cost of flying."
To learn more about lower rates and to see if you qualify, contact the AOPA Insurance Agency at 800/622-2672 for a quote.
The AOPA Insurance Agency is the only agency backed by AOPA. The AOPA Insurance Agency works for both members and non-members to find the best available aviation insurance coverage available.
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