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My aircraft is currently at the FBO undergoing an overhaul. Do I need to have my own insurance policy, or will the FBO’s policy cover the aircraft?

It’s strongly recommended that you cover your aircraft with your own policy. Some FBO’s will carry hangarkeeper’s hull coverage (which is designed to protect the FBO in the event of damage to an aircraft under the care of but not owned by that FBO). Many do not carry hangarkeeper’s coverage. Additionally, even if the FBO’s… Continue Reading →

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What steps do I take to add a pilot to my policy?

In order to add a pilot, we will need to submit some basic information about the pilot to the underwriting department at the insurance company. The information the insurance company will need includes the pilot’s age, ratings, total logged hours, hours logged in insured make and model, total hours logged in the last 12 months,… Continue Reading →

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Can I charge others for the use of my aircraft?

Most personal aircraft insurance policies will allow for a small amount of cost reimbursement. Some policies will not allow for any cost reimbursement. It is always important to read your policy and talk with your agent or attorney to help determine if cost reimbursement or a fee can be charged. Commercial policies are different and… Continue Reading →

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When will I receive my policy?

Depending on the insurance company and your preference, we will mail or email the policy to you the same day we receive it from the insurance company. Some of the insurance companies will send the insurance policy to us quickly. Other insurance companies can take up to four weeks to print and mail the policy… Continue Reading →

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Are all insurance carriers the same?

No. There are a limited number of insurance companies that will insure aviation risks. Several “carriers” are actually groups of companies. Because of that, your best option is to work with a specialist aviation broker who can explain the differences. The relative financial strength of the carrier is very important as it reflects their ability… Continue Reading →

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What can I do to get the best value for my insurance dollar?

First, fly an aircraft that your experience level dictates. While it may be possible to begin your flying career in a high performance aircraft or make multi engine or turbine transitions at relatively low time, an insurer will make the terms and pricing far more challenging than if you follow a more conservative approach. Second,… Continue Reading →

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How much should I insure my hull for?

Aircraft policies are written on an “agreed value” basis. At the time the policy is bound, you and the insurer agree that the aircraft is worth a specific dollar value. Because of this, it is important to arrive at an insured value that accurately reflects what the aircraft is worth. Underwriters will not overinsure an… Continue Reading →

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How much liability coverage is enough?

There is no simple way to determine this. It is generally best to buy as much as you can reasonably afford. You should take into account what assets you have that need to be protected. While registering an aircraft to a holding company may provide some benefit, if the claim is bad enough and the… Continue Reading →

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Am I covered if I fly outside of the United States?

Aircraft insurance policies are all different. Most cover the US, Canada and Mexico and some may include the Bahamas or Caribbean. If you plan a trip outside of policy territory, call your aviation broker. They may be able to obtain specific underwriter approval for additional territories. Some countries have additional requirements that need to be… Continue Reading →

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Why can’t I get higher limits of liability coverage?

For owner flown piston aircraft, getting limits of liability over $2,000,000 is becoming increasingly difficult. For owners who need it, there may be excess liability available. Higher liability limits are readily available for turbine aircraft and/or aircraft flown with professional pilots. Since the passage of the General Aviation Revitalization Act, manufacturers are less exposed in… Continue Reading →

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What happens if I add a low time pilot?

Often we can add lower time pilots without too much disruption. We specialize in tough-to-place aircraft and pilot combinations. As aviation insurance specialists, we are the brokers that you want working on a risk other brokers may find difficult to place.

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Is Mexican Liability included in the liability limits of my policy?

Mexican Liability is not included as part of your aviation insurance policy. It is an insurance requirement of the Mexican Government that requires the purchase of Mexican Liability insurance from an insurance carrier licensed in Mexico. Your aircraft insurance company may or may not offer this coverage for an additional charge. If you are planning… Continue Reading →

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What is a “smooth” liability limit?

A “smooth” liability limit is a combined single limit of liability for bodily injury and property damage which does not have a per passenger or per person sublimit. In other words, the entire liability limit would available to settle the claims of one or more people. A “smooth” liability limit is more expensive than one… Continue Reading →

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I applied for a quote and bound coverage. Why do I need to return an application after coverage has already been in effect?

All aviation insurance companies require a new application if you are a new customer to them. This application is specifically worded with your individual effective date, your exact liability limits, your hull value, and questions tailored to your exact policy. Even if you have already started a policy, the insurance company will require an application… Continue Reading →

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What is an Open Pilot Warranty?

An Open Pilot Warranty is the minimum qualifications required to be approved to fly the aircraft without being a named pilot. The pilot must meet every qualification of the open pilot warranty to fly the aircraft. Some policies do not contain Open Pilot Warranties. In many cases, we can request to specifically approve a pilot… Continue Reading →

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What is the difference between an insurance company and an insurance broker?

An insurance broker places the insurance coverage with the insurance company. Most insurance companies work only through insurance brokers. The insurance company creates the policy and pays the claims. The companies differ in their business focus, policy language, pricing, and claims support capability. It is a broker’s job to place the individual customer with the… Continue Reading →

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Why do I have to fill out an update form each year?

In some cases, the insurance company will not release renewal terms without updated underwriting information. More importantly, we work hard each year to get you the best coverage at the lowest possible premium. We ask you to give us an update each year to make sure that we are basing our quotes on your most… Continue Reading →

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I have a corporate jet or turboprop. My corporate pilot is a very experienced professional pilot. He completes school in other aircraft on a regular basis. Does he still need to attend a school specific to the make and model of my aircraft?

Most insurance policies will require pilots to complete annual factory-approved school in the make and model for all turbine aircraft. There are exceptions to the rule based on several different factors. Always consult your aviation insurance broker.

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I rent or borrow an aircraft. Should I purchase an insurance policy?

Yes. Purchasing a non-owned aircraft insurance policy is a good idea. The owner’s policy may not include coverage for permissive pilots. The aircraft may be underinsured or uninsured. Even if the owner’s policy pays, the insurance company may subrogate. You may be liable for the damages.

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Can I find reasonable insurance after an accident?

Accidents happen. In most cases, the future insurability of the pilot who had the accident is based on the claim itself. A large insurance claim may have a greater impact on your insurability. If the claim was caused by a mechanical malfunction and had nothing to do with the pilot, the underwriter may be more… Continue Reading →

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What is short rate cancellation?

The most commonly used method reduces the unearned premium by 10% when a policy is cancelled mid-term (before the expiration date). Some insurance companies will have a minimum earned premium.

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What are the Declarations page(s)?

The Declarations page(s) (also called Coverage Summary Page by some insurers) is usually the first page of your policy. It lists your name and address, the aircraft description, and your insurance limits. Depending on the insurance company it will be either one or two pages long.

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When do you recommend ground-not-in-motion (storage) coverage?

Each company takes into account that an aircraft may be occasionally down for repair. For this reason most companies will not offer competitive coverage for a short term storage policy. If the aircraft is being built or rebuilt, a longer term storage policy can usually be purchased at a reasonable rate.

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