ForeFlight unveiled its Insurance Fair Price Tool this week, offering aircraft owners increased transparency into what the company calls “one of the most opaque financial aspects of aircraft ownership.”
The tool aims to help aircraft owners navigate the complexities of insurance pricing. According to ForeFlight, the Insurance Fair Price Tool uses anonymized insurance policy data shared by pilots, combined with a user’s aircraft and flight experience details, to display an expected premium range based on similar profiles. Pilots can see where their current policy fits within the “fair price” range and gain insight into factors influencing their premiums.
“Insurance costs have increased in recent years, and many pilots don’t know if they’re getting a fair deal. This is a big step toward bringing more transparency to an outdated, inconsistent system,” said Tim Schuetze, CEO of ForeFlight.
The Insurance Fair Price Tool is available on ForeFlight Web and is in open beta, meaning the tool is still being refined. ForeFlight is encouraging pilots to upload their insurance policies to help enhance the data before its full launch.
