Insuring your Airplane

Where do you begin? Do you find aircraft insurance on the Internet? Do you shop price? How about the Yellow Pages?

The best way to find the best insurance for your aircraft is to begin with the best agent or broker! Since there are only a few companies that insure aircraft, and even fewer that insure school airplanes, the first agent you contact can obtain a quote for your new airplane from every underwriter and prevent you from working with another agent. The underwriters will only quote an aircraft risk once, so it’s important to select the agent you would like to work with and let them do their job and take care of you.

When selecting a good agent consider the following:

1. Types of companies the agent writes (“A” rated?)

2. Do you have referrals to this person?

3. Can your Aircraft Dealer suggest someone?

4. How accessible is your agent?

5. Does he/she return calls promptly?

Sure, you can secure insurance on the Internet, or through an aviation organization,¬†however it’s advisable to have an agent because in the event of a claim, you will want someone to be your advocate. The better your agent knows you and your situation, the better outcome you’ll experience.

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