Posts Tagged ‘aircraft insurance’

Aircraft Insurance – Call that Middleman!

Wednesday, March 1st, 2017

The Avemco Insurance Company has released a new advertisement in AOPA Pilot depicting a man in a suit falling out of the sky. The text reads “We got rid of the middleman” and correctly states that Avemco is the only direct aircraft insurer. This silly ad creates quite the visual, however, there are several reasons why it’s important to have that insurance middleman in your life!

Competition

Why contact a direct insurance underwriter when you can have over 18 carriers competing for your business-all with one call? The ultimate benefit of this competition is the price. You are more likely to obtain a lower premium when requesting quotations from 18 companies versus just one. Avemco sets their own rates. While the employee you speak to has the simple authority to provide a quotation, they can only supply one quote. An aviation insurance broker does the work for you-obtaining competitive rates from multiple insurance carriers. More options equal more savings!

Choices

As stated above, Avemco can supply only one quote and therefore one set of policy terms. Access to multiple carriers creates more flexibility in policy conditions. For example, most pilots transitioning into new aircraft are required to complete some dual instruction or formal manufacturer training which can be costly. Training requirements vary by underwriter and the pilot can pick the policy that has the training requirements that best fits his or her needs. Other options that vary from carrier to carrier would be available liability limits or the open pilot warranty.

Change

The aviation industry is ever-changing and it is important to have an insurance policy that changes with it. Most insurance carriers have adapted a “per passenger” policy form. Meaning the sub-limits on the liability portion of your policy are limited to passengers only. Avemco still uses a below standard policy form, their sub-limits are written on a “per person” basis. Therefore, anyone injured inside or outside of the aircraft are limited to only $100,000! In addition, thanks to the many aviation insurance carriers in the market, it is possible to obtain a policy without a sub-limit, also known as “smooth limits”.

Call

We challenge you to see the results a middleman can provide! At Aviation Insurance Resources (AIR) all our agents are pilots so we understand your needs as a pilot and aircraft owner. The graphics below say it all-our efforts will save you both time and money. Call our agent and pilots at 877-247-7767 or click here to request a quote online to start saving today!

 

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A Real Conversation on Aviation Insurance

Thursday, December 1st, 2016

View the Original post on the Airplanista Aviation Blog

By Victoria Neuville,

Airplanista Guest Blogger

The sun was setting as Bill pulled out folding chairs for himself and his friend Jeff. The soda cans hissed as they opened and the men sat down and breathed in the airport scenery. The hangar chat soon turned towards aircraft insurance. Bill’s Cessna 180 policy was expiring next month and he was surprised to hear he was paying considerably more than Jeff who also had a Cessna 180! Bill promptly pulled out his cellphone to call a fellow pilot who was an aviation insurance broker.

Leaning forward in their chairs, the pilots listened intently to the woman over the speakerphone. “Let’s make sure this is an apples to apples comparison first as there are several items to take into consideration when it comes to aviation insurance rates,” she explained. Bill trusted Victoria to provide honest feedback, he wanted an insurance broker who is immersed in the aviation industry and specializes in aviation insurance to protect his assets.

“Pilot experience in the aircraft being flown is a primary factor in determining insurance rates. Jeff has over 2,000 hours experience in tailwheel aircraft and has an instrument rating. Bill, you are relatively new to tailwheel aircraft with 50 hours of tailwheel time. This, plus the fact that an instrument rating can save a pilot around 10% on their insurance explains why your rates are higher than Jeff’s.” she clarified.

Victoria then taught Bill and Jeff about the importance of knowing the value of their aircraft. While some owners carry liability only, most pilots opt to carry hull coverage on their airplane. Those who insure their aircraft for more than true market value are paying for more insurance than is necessary. If the aircraft were to sustain major damage the insurance carrier may just pay for it to be repaired when the plane would otherwise be totaled. On the other end of the spectrum, underinsuring may result in a “constructive total loss” where the cost of repairs plus salvage value exceeds the insured value.

Satisfied with Victoria’s explanation Jeff interjected, “How much liability coverage should I carry?”

The liability portion of an aviation insurance policy includes protection for property damage and bodily injury. The pilots were recommended to purchase as much liability that is affordable to them. Industry standard and the minimum required by most airports is $1,000,000 liability with a $100,000 per passenger sublimit. This limit states that property or persons outside of the aircraft can receive up to $1,000,000 for damages. Individuals inside the aircraft have $100,000 available for injuries. It is important to be aware that some outdated policies are written with a per person (versus per passenger) sub-limit stating that all individuals both inside and outside the aircraft only have a maximum of $100,000 available. In any case the maximum available for all bodily injury and property damage combined would be $1,000,000 total.

Insurance policies containing no per passenger or per person limit are often called “smooth limits”. While not available in every situation, it is in the interest of the insured to inquire if smooth limits are available on their policy.

To keep the discussion going, Bill inquired what he should do if he were to fly a friend’s airplane or rent from a flight school.

“Non-owned insurance, often called renter’s insurance, provides coverage when operating an aircraft that is not owned completely or partially by the pilot. Unlike owned policies, non-owned insurance premiums are rated on the limits of coverage purchased, not pilot experience. An ATP and a student pilot could have the same rates if they purchased the same limits. Since both of you are individual aircraft owners, your insurance may already have non-owned coverage included when flying a similar category and class aircraft. An additional policy may not be needed!”

She then explained the importance of non-owned coverage. Many pilots assume they are covered under their flight school or the aircraft owner’s policy. Sometimes that is true; however, that does not exempt the insurance carrier from subrogating (recovering their loss) against the pilot responsible. Another essential aspect of the non-owned policy is it covers the liable pilot’s legal fees. Often an hour of a lawyer’s time costs more than the insurance policy itself.

Many flight schools require non-owned coverage so that the renter pilot can cover their deductible in the case of a loss. In addition, when non-owned physical damage is purchased the policy may include loss of use, so the flight school can recover lost earnings while the aircraft is off the flight line.

Bill smiled, “Here’s a question. Why should we call you for our aircraft insurance?” Victoria laughed, “Great question! Most insurance companies do not work directly with the insured, so a broker is required. However, not all brokers are alike. Competition is the fuel behind industry rates and working with an aviation insurance broker that is appointed with all the major aircraft insurance markets will save you both time and money on your policy.  Access to multiple insurance carriers also provides flexibility before committing to a specific carrier’s requirements. Also, being able to work with a broker who specializes in aviation insurance and understands the industry as a pilot themselves adds a lot of credibility.”

“Thank you for taking the time to explain aviation insurance to us tonight. You have been so very helpful, let’s just hope I never need it!” Jeff exclaimed when their conversation was over. Bill nodded in agreement. The sky was getting dark and the moon sent shadows across the taxiway. The hangar door shut with a clank and the Cessna 180 awaited behind closed doors for its next flight.

Victoria Neuville is an instrument rated commercial pilot, the author of the Turbo the Flying Dog book series and a co-host on the Stuck Mic AvCast aviation podcast. She has over 6 years of experience as an agent managing accounts for Aviation Insurance Resources (AIR), an aviation insurance broker headquartered in Frederick, MD. When you call AIR at (877) 247-7767 to speak with Victoria, make sure to mention you heard about AIR on Airplanista!

Fall Flying at the DeLand Sport Aviation Village

Tuesday, November 1st, 2016

Summer may be over, but the best flying weather is still to come. For those looking to escape the chilly weather and spend time with aviation enthusiasts, the Deland Sport deland-savas-logo-color-low-res-web-06-06-16Aviation Showcase in DeLand, FL is THE place to be this November! The inaugural event aims to showcase all aspects of light sport aviation through DeLand’s “Sport Aviation Village” featuring a plethora of forums and exhibitors.

Booth #308 in the showcase will have some familiar faces! Those of Chris Wolbert, Gregg Ellsworth, Joe Ruck, Joe Cacho and Jon Harden, aviation insurance specialists at Aviation Insurance Resources (AIR). As pilots themselves, the agents of AIR love to get into the heart of the industry and meet personally with the pilots and business owners they serve. Stop by the AIR booth to discuss your aircraft insurance or just “hangar fly”.

Chris Wolbert and Gregg Ellsworth will be sharing their expertise Friday the 4th with their presentation “The Aviation Insurance Market Place Today: Always Changing”. Guests are encouraged to stop by Forum 2 at 3:30pm to learn the basics of aviation insurance and how industry changes are affecting you.

Just 40 miles north of Orlando, the DeLand Sport Aviation Village and Showcase runs November 3rd through 5th following the NBAA convention. Camping is available on the airport and shuttles are available to nearby hotels. To learn more about this great event visit: sportaviationvillage.com.

 

Sling 2 Aircraft Soars Effortlessly at the Midwest LSA Expo

Wednesday, September 14th, 2016
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Photo courtesy Midwest Sky Sports

Overcast skies did not subdue the excited pilots and exhibitors at the Midwest Sport Aviation Expo in Mt. Vernon, Illinois last weekend. As in years past, this free event welcomed aviation enthusiasts from around the nation to discover the latest the sport aviation industry has to offer. To Aviation Insurance Resources (AIR) agent, Gregg Ellsworth, the Sling aircraft created the biggest draw.

Granted, Gregg’s opinion may be a bit biased as he quickly found himself strapped inside the Sling, enjoying the fresh breeze with the canopy pulled back, taxiing towards the runway. With the low ceiling, Gregg and instructor Andy Enos from Lapeer Flight Training in Lapeer MI, leveled off at 2,000 feet. Despite a chop in the air, Gregg performed steep turns and other maneuvers, finding the Sling to be sporty but stable and easy to fly.

“The Sling is an easy and simple aircraft to learn to fly in while still having great technological features such as the glass panel,” Gregg said after the flight. He added, “the view can’t be beat!”

AIR was instrumental in making insurance available for many new LSA aircraft entering the market and quickly became a leading LSA insurer. With access to all the aviation insurance markets, AIR is able to obtain the lowest available rates without compromising coverage. AIR is the official insurer of Lapeer Flight Training as well as Sling Dealers Midwest Sky Sports and AeroSport, both who were in attendance at the expo with their respective Sling 2 aircraft.

AIR provides a full range of aircraft insurance including other light sport aircraft such as the Flight Design, Czech Sportcruiser, CubCrafters, Evektor, Tecnam and more! AIR represents all of the major aviation insurance markets so we can offer you the broadest package of protection at the best available rates.

For more information call 301-682-6200 or request a quote online today!

 

Insurance Benefits for The Cub Club members!

Tuesday, August 16th, 2016

As a member of The Cub Club you are eligible for certain benefits. Have you taken advantage of what The Cub Club’s official insurance provider has to offer? Since 1999 Piper Cub owners have placed their trust in Aviation Insurance Resources (AIR). AIR is partnered with all of the major aircraft insurance markets therefore providing the broadest coverage at the best rates available. Furthermore, all of our agents are pilots. Aviation is not just an industry we work in, it’s a passion we share with our clients every day.

To get started on your official Cub Club aircraft insurance quote please call 877-247-7767 or apply online today and experience the difference! Be sure to mention that you are a member of The Cub Club!

Testimonials:
“With AIR I found better coverage, lower deductibles and an annual premium 50% lower than Avemco.” Mike S., VA

“AIR brings together the knowledge required to find the best value for all of us, and they do it well.” Keith, Paul & Debbie P., CA

“The aviation industry requires professionals with a deep knowledge of industry and personal needs and AIR is an outstanding example of those attributes.” Steven S., OK

 

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Scholarship Awarded to Aircraft Dispatcher; Future Flight Instructor

Monday, July 25th, 2016

Scholarship Awarded to Aircraft Dispatcher; Future Flight Instructor

Oshkosh, WI June 25, 2016 – Leading aircraft insurance broker, Aviation Insurance Resources (AIR), announced today the finalist in their inaugural “Get into the AIR” aviation scholarship. The competition was fierce but the AIR scholarship committee ultimately decided on an aircraft dispatcher that stood out from the rest of the applications, Caitlin Lyons.

Filled with lofty goals, Caitlin’s determination is unmatched. During her private pilot training, Caitlin lived in Manhattan without a car. Her commute to a general aviation airport consisted of 1 ½ hours by train followed by a three mile walk one way; all while working full time! Caitlin’s career change to an aircraft dispatcher has brought her to California where she has begun advanced training. She is a member of Girls with Wings, The Ninety-Nines and Women of Aviation. In her spare time, she enjoys speaking to others about aviation, especially women and children.

Caitlin will be using the $500 scholarship to kick start training for her instrument rating. She plans to complete her instrument rating, commercial rating, as well as her CFII and MEI within the next two years. You can keep up-to-date with Caitlin’s career progress on her blog at www.CessnaChick.com.

About Aviation Insurance Resources (AIR)

Since 1999, AIR has remained closely connected to the industry they serve, many of their customers are friends and some are even family. This is because all of the agents at AIR are pilots and understand the needs and challenges in owning or renting an aircraft and aviation related businesses. No matter your involvement in aviation, AIR can provide a comprehensive yet economical solution for your needs. For updates on future scholarships or an aircraft insurance quote call 877-247-7767 or fill out a quote request online today!

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Cygnet Amphibious Trike Insurance

Tuesday, May 17th, 2016

Nothing can compare to the adrenaline rush of flying a weight shift amphibious trike over clear blue water and sandy beaches. The Airtime Aircraft Cygnet, a Special Light Sport Aircraft (SLSA), is the ultimate all terrain aerial vehicle. Unlike many weight shift trikes, the tandem, two seat design allows a passenger to share in the adventure, too! Check out Evelyne’s first Cygnet flight below:

Pilots find the Cygnet to be a budget friendly aircraft due to low maintenance costs and the 4.2 gallons per hour average fuel burn. Furthermore, the 100 horsepower Rotax engine offers a 4-hour endurance cruising at 50 miles per hour. If you are eager to get the most out of your flying day, the Cygnet takes as little as 20 minutes to remove from its custom trailer and set up. In addition, the ability to depart from land or sea increases the pilot’s flexibility of departure point.

For years, Cygnet owners have faced dead ends when trying to obtain hull insurance on their aircraft, but not anymore! Thanks to the diligent work of Aviation Insurance Resources (AIR) an affordable policy is now available. AIR shops all of the major aviation insurance carriers to obtain the best rate and broadest coverage on your aircraft insurance. The ability to work with all the markets allows AIR to insure unique and adventurous aircraft such as the Cygnet.

AIR President Jon Harden flew weight shift trikes for many years. “The experience of flying a weight shift trike can’t be beat,” he explained. “I’m thrilled that we can finally assist Cygnet owners with a policy that provides full coverage as well as liability only options at reasonable rates­.”

To learn more about how Aviation Insurance Resources can assist you with your Cygnet insurance, please call 301-682-6200 today! You may also visit AIR PROS.com and request your insurance quote online!

14 Year Old to Build BushCat Aircraft

Wednesday, May 4th, 2016
Rachel feels right at home in the BushCat

Rachel feels right at home in the BushCat

Rachel St. Louis’s first flight in a small aircraft was in her father’s Cessna 172 at 9 years old. Upon taking the controls, she knew she belonged in the air. Last year she received a seaplane lesson and as the floats of the Piper Cub touched the glassy waters on 8 different lakes, her love for aviation was sealed. Rachel took this passion a step further and became determined to build her own aircraft. At EAA AirVenture 2016, Rachel will take delivery of a BushCat aircraft kit. She is only 14 years old and paid for it with the earnings from her jewelry business, Rachel’s Jewelry.

Rachel has always demonstrated creativity and determination through designing jewelry. Starting with plastic bead and cords, she soon upgraded her earrings and necklaces to metal and found herself managing a small table at a local Christmas fair. Six years later, Rachel now attends 21 craft fairs annually with her mobile showroom. Rachel’s business success helped pave the way for diving head first into the aviation industry. She plans to learn to fly in the BushCat she builds and hopes to attend college at Embry Riddle Aeronautical University. When asked what her dream aviation job would be, her answer was to fly the F22.
With the help of her family, Rachel did extensive research on which kit aircraft to purchase. Much to her dismay, not many people took her goal of building her own aircraft seriously.

Rachel prepares a custom jewelry piece at Sun 'n Fun

Rachel prepares a custom jewelry piece at Sun ‘n Fun

That was until she met the people at AeroSport, a Wisconsin based dealer of BushCat and Sling aircraft. The SkyReach BushCat comes in several options: experimental amateur built (EAB), and experimental light sport (ELSA), and a certified light sport (SLSA). All three models are available in conventional gear or tri-gear configuration. The Sling 2 claims to be the “highest quality, high performance LSA on the market”. Its big brother, the Sling 4, is the 4-seat experimental version of the aircraft featuring a 115hp turbocharged Rotax engine.

Aviation Insurance Resources (AIR) is the official insurer of AeroSport and BushCat and Sling Aircraft. At Sun ‘n Fun 2016 AIR agents met Rachel at the AeroSport booth and were delighted to learn her story. All of the agents at AIR are pilots and have an immense passion for the industry they serve. So much so that they are offering a scholarship to further the aviation goals of future pilots like Rachel. The ‘Get into the Air‘ scholarship will be awarded at EAA AirVenture to the pilot or student pilot who best describes their motivation to be involved in the aviation industry. Applications are available online here.

No matter their background, each pilot (and future pilot) has a story to share just like Rachel. With persistence and determination there are no limits to what she may achieve. Whether you are a BushCat or Sling aircraft owner or builder, AIR looks forward to hearing your own story and assisting you with your aircraft insurance needs!

Take the Work out of Aviation Workers’ Compensation

Thursday, April 21st, 2016

refuelingIn many states workers’ compensation insurance is required by law. While these policies are essential to protecting a business and its employees in the case of an injury, many aviation companies run into exclusions related to their type of business. An aviation workers’ compensation policy from an aviation insurance broker can ensure corporate flight departments, flight schools, maintenance shops and other aviation businesses are properly protected at a fair rate.

An Aviation Workers’ Compensation policy from Aviation Insurance Resources (AIR) can provide the protection your business needs in a simple and straight forward process. All you need to get started is estimated annual salaries of your employees broken down into part and full time as well as their work assignments. With convenient benefits such as pay as you go, your audits will become easier and more predictable.

The insurance carrier can provide safety recommendations that can lead to a safer work environment that over time may lower your premium. Other options may include: foreign voluntary workers’ compensation, emergency international medical assistance, employers’ legal liability and extensions to include first responders.

AIR strives to take the hard work out of your aviation workers’ compensation insurance. With agents averaging over 30 years in the aviation insurance industry, business owners can take comfort that their risks are handled professionally by aviation insurance experts. Providing a full range of aircraft insurance and aviation insurance products to fit each client’s needs, AIR is ready to serve you! To request an aviation insurance workers’ compensation or another aviation insurance quote call 877-247-7767 today!

Aviation Scholarship Opportunity!

Thursday, March 17th, 2016

A $500 aviation scholarship is being offered for student pilots and pilots to help further their training. Sponsored by Frederick based aviation insurance broker, Aviation Insurance Resources (AIR), CT Designthe Get into the Air scholarship can be used towards any phase of flight training, a flight review, written exam, instrument proficiency check or a check ride.

AIR is seeking an applicant whose essay and recommendation letter best describes their goals, drive and involvement in the aviation industry. The scholarship winner will be announced at the 2016 EAA AirVenture in Oshkosh, WI. The deadline to enter is June 15th. Scholarship applications are available for download at www.AIR-PROS.com/scholarship.php.

About Aviation Insurance Resources (AIR)

Since 1999, AIR has remained closely connected to the industry they serve, many of their customers are friends and some are even family. This is because all of the agents at AIR are pilots and understand the needs and challenges in owning or renting an aircraft and aviation related businesses. No matter your involvement in aviation, AIR can provide a comprehensive yet economical solution for your needs. For scholarship questions or an aircraft insurance quote call 877-247-7767 or fill out a quote request online today!