Hank S
En-Route
But how much of a discount?
I was unable to determine by observation how much of a discount I received after getting my IR. There has been so much year-to-year variation in my quotes due to (so I was told) factors internal to the industry that it completely swamped any perceptible discount. I suppose I could ask my broker how much more I would be paying in a particular year if I didn't have my IR, but I'm also not sure she would be able to tell me either without sending each insurance company two separate pilot information sheets for me, which for obvious reasons, she can't do.
In any case I suspect that the discount is fairly small, probably because IR pilots' increased risk exposure largely cancels out the improved safety due to the training, as others have stated.
My premium stayed the same two years in a row after I bought my plane with 62 hours. First year was horrid, 2nd & 3rd were the same. Finished Instrument training, premium fell by just over 30%. That's enough for me to notice! It has continued to go down since then, maybe another 10% total the last four years.