Avemco Insurance has moved 13 Light Sport Aircraft models into its most preferred rate class and owners of those aircraft can expect premium reductions in the coming year. Avemco CEO Jim Lauerman told AVweb in a podcast interview that factors like company stability, parts availability and, of course, the claims record were all taken into consideration in giving the aircraft preferred rate status. “The industry has matured,” he said, noting that many companies are establishing nation-wide service networks and support services for owners of their products. But it’s not just the companies and their products that have gotten better.
Avemco raised some eyebrows last year when it set minimum transition training standards for those moving to LSAs. The company realized soon after it began insuring LSAs that the accident profile was different. Experienced, high-time pilots were wrecking LSAs at an alarming rate because they assumed, like the insurance company did, that they would be easy to get used to. The light wing loading and responsive controls of the little airplane caused problems for many experienced pilots so the company insisted that its customers take a minimum of five hours of dual with a qualified instructor on the type of airplane they were insuring and that they pass a flight review at the end of the training period. Lauerman said the accident rate has plummeted since then.
