The Facts about Aircraft Insurance Deductibles

When shopping for any medium of insurance, deductibles tend to be a top concern. Most insurance policies, whether for your car or medical insurance, contain some sort of deductible. Aircraft insurance policies can contain deductibles, too, but can be handled in a way that is different than the other policies you may be used to.
Fact 1: There is no such thing as a hidden deductible.
Some aviation insurance companies claim in their advertising that they have no hidden deductibles when the truth is that there is no such thing as a hidden deductible. Each carrier is upfront about these and since AIR believes in service with integrity, these are represented clearly when obtaining a quote.
Fact 2: Most light aircraft policies have a set deductible
Aircraft insurance premiums are based on pilot experience as well as the aircraft type and hull value. Currently, most insurance carriers have set or fixed deductibles, including many that offer $0 deductibles for all the aircraft they insure. In effort to streamline policy processing and market conditions, the majority of aviation insurance companies have eliminated deductible options.
Fact 3: There are two types of deductibles: In Motion and Not in Motion
Aircraft insurance policies contain two types of deductibles: those for claims that happen while the aircraft is in motion and those while it is not in motion. As the definition of “in motion” can vary, it is important to read the wording in the definitions section of your policy. Your deductibles will be clearly stated on the declarations page of your policy as well as on your quotation from Aviation Insurance Resources.
Before purchasing aircraft insurance, whether you’ll be flying a Cessna 150 or a Cessna Citation to a seaplane or a helicopter, it is important to know the facts. Sometimes, the subject of deductibles can be confusing. We hope this blog has provided some insight for your research. As always, our agents and pilots at AIR look forward to sharing those facts with you.
To learn more about your policies deductibles or to receive an aircraft insurance quote, please contact Aviation Insurance Resources by calling 877-247-7767 or visit AIR-PROS.com today! You can also find us on Facebook, Twitter, LinkedIn, and Google+.