Before accepting an insurance quote, be sure that your school of choice is approved by that insurance carrier or request a list of them to choose from. Each insurance company maintains their own unique approved schools lists for each make and model aircraft based on their criteria for the school’s syllabus and flight simulators. Most carriers accept the big-name schools such as Flight Safety and CAE with full motion simulators. In fact, many insurance companies only accept full motion simulations versus in-aircraft training due to a variety of emergency scenarios that can be practiced within a safe environment.

Your training requirements should be listed on your aircraft insurance quote or on the pilot endorsement section of your policy. On a case-by-case basis, an underwriter may approve training not on their list when supplied with a detailed syllabus and school details.

For dual crew aircraft it is now commonplace for both the pilot in command and second in command to complete annual approved training. Since the insurance market hardening in 2020, a special emphasis has been placed on yearly training in response to rising claims costs due to pilot error. After completion of your training each year, supply a copy of the training certificate to your aircraft insurance broker to create a more seamless renewal process.

Whether you own an aircraft that requires annual training or not, Aviation Insurance Resources (AIR) is your one stop shop for the most competitive aircraft insurance policies. To get started on your aircraft insurance policy give one of our pilots and agents a call at 301-682-6200 or request a quote online today!

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While it’s easy to start a policy and renew as-is each year, a quick Aircraft Bluebook valuation can determine if your aircraft is underinsured. Aircraft insurance policies are a stated value, meaning if you had a total loss, you receive a check for that stated value, minus any deductible. While insurance policies are renewed on an annual basis, you may increase your aircraft value at any time for a pro-rata additional premium. Some underwriters will request justification for the value, especially if upgrades carry it above base Bluebook. It is best to have handy your engine time, airframe time, and any avionics, interior, or paint updates for your agent to justify the new hull.

While you may save premium by underinsuring your aircraft, you are at risk for a constructive total loss. A constructive total loss is when the cost to repair the aircraft plus the salvage value of the damaged aircraft exceeds its insured hull value. The aircraft owner is left with two choices: to accept the claims check that will not be enough for an apples-to-apples comparable new aircraft or buy back the salvage now belonging to the insurance carrier and have the aircraft fixed.

Aviation Insurance Resources (AIR) is an insurance agency specializing in aircraft insurance. All our agents are pilots. To receive an competitive aircraft insurance quote, or to inquire if you should be increasing your hull value on your aircraft insurance policy, call us today at 301-682-6200 and put your mind at ease.

The post Is Your Aircraft Insured for What It’s Worth? appeared first on Aviation Insurance Resources.

As a part of that preparation of the claim payment process, claim handlers need to verify the aircraft’s ownership status with the Federal Aviation Administration (“FAA”) Aircraft Registry. If there is a total loss, a title search may also be ordered.

These steps are taken to ensure that the policyholder and all other parties with financial interest in the aircraft are accounted for in the loss payment. There are several scenarios that can create challenges for claim handlers when preparing loss payments and there is a problem in ownership determination, including:

• An individual is the named insured, but the FAA Registry lists a corporation as the owner.
• A corporation is the named insured, but the FAA Registry lists an individual as the owner.
• The aircraft was recently sold and the names of the insured and registered owner are different.
• An additional party is shown in the title report as having financial interest in the aircraft. This is typically due to a lien not having been properly released by the financial institution.

Scenarios such as those can delay the payment of the claim, which is why having the proper documentation ready is so important.

Be Prepared to Prove Aircraft Ownership

If you have an aircraft owners insurance policy, having your documentation ready before a loss can help you avoid these types of issues when making a claim. There are several simple things aircraft owners can do to get prepared in advance, such as:

• Early Documentation – Do not wait until a loss occurs to get started. Documentation of ownership should begin as early as the purchase of the aircraft and sometimes even earlier. You can order a title search to bring to light any potential title issues prior to purchase of an aircraft. Even if you have already owned the aircraft for a while, a title search now will allow you to uncover any issues.
• Maintain Contacts – If at all possible, you should keep the contact information of the previous owner of your aircraft, and ensure that your aviation insurance broker is aware of any party besides the named insured that also has financial interest in the aircraft.
• Keep Financial Records – Keeping financial records and copies that prove aircraft ownership is paramount. As a general rule, you should keep copies of the following: bill of sale, application for registration, copies of communications with the FAA’s Aircraft Registration Branch, lien release documents from financial institutions, and any other corporate documents.

Aviation Insurance Resources

Proper preparation can give you peace of mind in the unfortunate event of an aircraft accident or incident. At AIR, we have a team of highly skilled aviation insurance specialists in our corner ready to help. Contact us today to learn more about aircraft owners insurance, loss payments, proving ownership, and more.

The post Aircraft Owners Insurance: Loss Payments & Proving Ownership appeared first on Aviation Insurance Resources.

Here are the top four causes of commercial aviation accidents:

• Pilot Error – Everyone makes mistakes, and pilots are no exception, that is why the leading cause of commercial airline accidents is due to pilot error. These errors may include failure to monitor a plane’s position, misreading maps, etc.
• Air Traffic Controller (ATC) Error – ATC and other ground workers are important in ensuring the safety of flights and passengers. Errors made by ground controllers and ATCs may result in collisions or other serious accidents.
• Weather Issues – Hazardous weather conditions such as strong winds, low visibility, and lightning can make it difficult for pilots to control aircrafts and land safely.
• Mechanical Failures – Mechanical failures can happen at any time, which can cause a plan to crash or experience issues on the ground or in flight.

At Aviation Insurance Resources, we are proud to offer comprehensive and affordable commercial aviation insurance to aircraft companies across the nation. Fully staffed by a team of aviation insurance specialists, we understand the unique needs of aviation business owners, enabling us to help companies find the ideal commercial aviation insurance solutions needed to keep their fleet and property protected from all angles.

From flight schools, charter operations, maintenance shops, and more, we specialize in all commercial aviation coverage solutions. Get in touch with us today to get a quote on commercial aviation insurance for your business or institution.

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Hangarkeepers insurance is a unique type of general liability coverage designed to protect you for aircraft in your business’ care. But let’s explore general liability coverage further, how does it really protect aviation business owners? Read on to find out:

• Slip & Fall Accidents – General liability insurance protection ensures the protection of hangar owners by providing coverage in the event of a slip, fall, or other accident that may occur on company property.

• Products and Completed Operations Liability – This form of insurance covers liability claims for bodily injury and property damage caused by services and products performed on an aircraft.

• Hangarkeepers Liability – An important part of general liability, hangarkeepers liability protects aviation business owners from a range of liability risks including physical damages, loss of use, etc.

• Legal Liability – Keep your legal liability protected with this general liability insurance coverage option that covers legal expenses and defends you for claims filed against you or your company.

At Aviation Insurance Resources, we proudly provide general liability coverage, such as hangarkeepers insurance coverage, to all 50 states. Protecting your liability as an aviation business owner, we ensure that you are protected in the event of an accident or incident that occurs within your hangar. General liability coverage may include coverage for loss of use, physical damages, and/or diminution of value coverage.

Working with the nation’s top aviation insurance carriers, we offer our clients a wide range of general liability insurance coverage options that match their unique needs and requirements. With a fully staffed team of pilot insurance agents, we understand the risks you are up against and do our part to help you find the hangarkeepers insurance and other general liability coverage needed to safeguard those risks and your liability. Get in touch with us today to get an insurance quote!

The post Four Ways in Which General Liability Insurance Can Protect Hangarkeepers appeared first on Aviation Insurance Resources.

If you are looking to get the most from your aviation insurance policy, then working with an aviation insurance specialist is the best way to ensure that you get the comprehensive coverage you deserve.

While working with an agent is the best way to get what you need, it is also important to understand your policy, which is why we are sharing this brief list of the most common aviation insurance acronyms for your reference:

Deductibles

• NIM (Not in Motion) – NIM is a type of deductible that applies when your aircraft is damaged when not in motion.
• IM (In Motion) – This deductible applies when your aircraft is damaged while flying or taxiing.
• RIM (Rotors in Motion) – RIM is the same as IM, but for helicopters.

Pilot Experience

• TT (Total Time) – TT is the sum of the pilot’s flight time logged in all categories (Pilot in Command, Solo, Second in Command, Simulated/Actual Instrument, etc.)
• MM (Make and Model) – MM refers to the make and model of the aircraft in question.
• RG (Retractable Gear) – RG refers to the retractable gear aircraft.
• ME (Multi Engine) – A multi engine, abbreviated to ME.
• TW (Tail Wheel) – Tail wheel, referred to as TW, is a common policy abbreviation, also referred to as conventional gear.

At Aviation Insurance Resources, we are proud to offer a wide range of aviation insurance policies to all 50 states. Providing aviation insurance and products to clients of all sizes, we work with you to find the ideal coverage that matches your needs and exceeds your expectations. Not captive to a single aviation insurance carrier, we represent all of the top aviation insurance markets, enabling us to offer you the comprehensive protection you require at a price you deserve.

In addition to offering you the most practical aviation coverage, we are dedicated to providing our clients unparalleled customer service. When you choose Aviation Insurance Resources you are more than a client, you are a part of the family! Get in touch with us today to get a quote on aviation insurance coverage.

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