Scale Down to Step Up
By Marci Veronie, Vice President, Avemco Insurance Company | February 2017
Do you reach for your wallet every time your airplane mechanic calls? Do you live
in dread of the costs associated with an Airworthiness Directive notice? Do you
fly a few hundred more hours before an engine overhaul because you’re not sure how
to pay for it?
Of course you want to be a safe airplane owner. You need to be a safe owner. But
sometimes it’s just so darned expensive. I don’t mean to scare anyone away from
airplane ownership, just help you find a way to enjoy it a whole lot more.
Unfortunately, a lot of people will buy the most airplane they can afford. Who can
blame them? It’s easy to get caught up in the glamour and performance of a classic
aircraft when they cost the same (or less) than a 1970s Cessna 172. Trouble is,
paying the purchase price is just getting your foot in the door. For example, inspections
usually cost more on retractable-gear airplanes. FBOs can charge you more to hangar
or tie down a twin, even if it’s smaller than some single-engine airplanes. The
more complex the airplane, the more equipment needs regular maintenance and the
occasional bit of overhaul, replacement or repair.
Although we all gawk at one-of-a-kind airplanes, uniqueness means it’s harder to
find parts and qualified mechanics, and that means it’s more expensive. Let’s face
it, most insurance companies will charge more to insure a more complicated, expensive
or unique airplane because it costs more to fix it if you have a claim.
They’re all fine airplanes; it’s a matter of finding the one that fits your personal
budget. Ask yourself if scaling your expectations down a notch might result in
a much happier ownership experience. Choosing a Cherokee 180 instead of a Piper
Arrow, for instance, is not really much of a step down in performance (see how little
time you’ll save in the Arrow on a typical trip). But the added costs of the more
complex airplane is hundreds or thousands of dollars each year you could spend on
fuel, avionics, maintaining your airplane the way you know you should, or new paint
that’ll make your airplane the envy of those who can barely afford the airplane
they chose. Additionally, the money you save could go towards your keeping your
flying skills as sharp as possible.
If you’ve considered all of the variables and decided on the more complex aircraft,
fine. But don’t live in dread of the next unexpected ownership cost. Buy the airplane
you can afford to fly. A small step down in performance can often mean a big step
up in the enjoyment of your airplane ownership experience.
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Marci is the Vice President of Sales and Marketing and has been with Avemco since
1987 serving general aviation aircraft owners and pilots. Marci holds a property/casualty
insurance and life health license in all 50 states and has extensive knowledge of
aviation insurance and the aircraft that Avemco covers. Additionally, she is active
in Avemco’s loss prevention efforts developing educational programs and training
for her staff. She has been a member of Women in Aviation International since 2001
and a member of the local DC chapter. In March 2015 Marci was elected to the Women
in Aviation International Board of Directors.
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