With the cost of aircraft ownership on the rise, aircraft owners are in need of a way to reduce their annual costs. Besides trusting the experts at Aviation Insurance Resources (AIR) to shop your policy for the best rates, there are some other options to keep your airplane flying and your pocketbook full.
Share the Love
A popular method for cutting aircraft ownership costs is simply by sharing the expenses. This can be done by getting a partner in the aircraft or joining a flying club. When someone buys a share in an aircraft partnership or a flying club, the annual aircraft costs are distributed amongst the group, resulting in less out of pocket expenses and more time in the air for the pilot. If you have just one partner or two, or are part of small flying club or a large one with multiple aircraft, Aviation Insurance Resources (AIR) can provide you with the a competitively priced policy to fit your needs.
Renting to Named Pilots
Do you have pilots interested flying your aircraft that you would like to charge a rental fee to cover some of your expenses? A commercial aircraft policy is not always needed, some aircraft insurance policies include rental to named pilots! To see if your policy qualifies, just call your knowledgeable insurance expert at AIR. We are happy to provide pilot information form for the prospective renter to complete or take the information over the phone. Sometimes there can be an additional premium for adding another pilot. This can be due to pilot qualifications or an additional pilot surcharge and would be pro-rated if added mid-term.
OpenAirplane
While you’re not using your aircraft, why not have another pilot keep the oil warm? OpenAirplane offers you the opportunity to do just that. Since the dawn of this new rental platform, AIR has been supporting OpenAirplane insurance needs, from the required renter insurance to OpenAirplane aircraft owner insurance. AIR works with Starr Aviation on renters insurance, pleasure and business policies and on commercial insurance. We are premier partners with Starr Aviation and have been able to create insurance options for those using the OpenAirplane network, making insurance coverage readily available and competitive. Because of this unique partnership, our two companies are the most familiar with OpenAirplane requirements in the aviation insurance market.
Aircraft Valuation
Do you know what your aircraft is worth? One step towards your airplane ownership budget is knowing the value of your aircraft. There is no point in spending more on insurance you do not need, but it is also important not to underinsure your aircraft either. It all starts with a call to AIR, where we can provide a free Bluebook valuation to start your aircraft insurance off on the right track.
Before you hang up your aircraft keys, consider the options above to assist in lowering your aircraft ownership costs. Often, it can start with a simple call to AIR. We shop all of the aircraft insurance companies competitive for the type of flying you do, therefore offering the broadest rates at the best prices available.
Aviation Insurance Resources provides a full range of aircraft insurance and aviation insurance products to clients of all sizes. To get started on reducing your aircraft ownership costs, please call 877-247-7767 or visit AIR-PROS.com today and receive an Aircraft insurance quote! You can also follow AIR on Facebook, Twitter, LinkedIn, and Google+.
