ForeFlight Unveils Insurance Fair Price Tool

I tried this out for my policy and was impressed. You upload your policy as a PDF file and Foreflight pulls the relevant data out of it. Then you answer some questions about your hours in different categories, your age, whether the aircraft is hangared and if you’ve filed a claim in the last 5 years. It shows you where your premium is in a range from low to high and whether or not you are below average, average or above average. Turns out I’m near the low end of the premiums so I’m getting a good deal. Looks like it relies on pilots uploading their policies so the more data that it has, the more accurate the result. I don’t know anyone else that is doing this but it’s long overdue. Maybe insurers will start paying attention to it. Over the 26 years that I’ve owned my airplane, my premiums have increased by 240%. Part of that is because my hull value increased significantly after a major rebuild 15 years ago but it’s still a big increase. The industry has no transparency in how it charges so this is a good effort on Foreflight’s part.