1. How much liability should I carry?
It is virtually impossible to try and carry enough liability that will cover EVERY possible situation. However, you should carry enough liability to properly cover your assets or enough that will fit under a personal or corporate umbrella. Also, higher limits are not always available to every kind of risk.
Our suggestion? Get as much as you can afford and as much as is available.
2. Should I shop insurance with several different agents?
Generally, most reputable aviation insurance specialists all use the same companies. There are currently only 11 aviation insurance companies available. Not all of them write coverage on everything, which can narrow down the playing field. Therefore, getting more than a couple of agents involved can distort your particular risk with underwriters showing you to be a “shopper”.
In addition, underwriters mostly will only offer terms to one agent, mainly the first one there. If you decide to change agents once a quote has been given out, that first quote will remain the same.
Our suggestion? Find an agent you can trust, one that is going to “work” for YOU, and let them shop the market for you.
3. What about using my local agent?
Local agents are good for your personal insurance and your business insurance. But, generally, most local agents are not familiar with the every changing aviation insurance market. You aviation specialist probably will not try to place your health insurance for you so why would you let someone who is not a specialist place your aviation insurance for you?
In addition, This is a relationship business. It is important that your agent has a good working relationship with the underwriters and the
claims departments of the companies from which he is requesting quotes. Our suggestion? Letting a reputable aviation specialist is the best way to make sure your aviation coverages fit in to the rest of your insurance portfolio.
4. What is an "open pilot warranty"?
An open pilot warranty is a clause in many aircraft insurance policies, which allows pilots with certain minimum qualifications to fly the aircraft on an occasional basis without being named to the policy.
5. Is my CFI covered under my policy?
Coverage for commercial operations is excluded by all pleasure and business policies. If your CFI is giving you or anyone else instruction, then there is no coverage for him under your policy, even if you name him as an approved pilot. Your CFI should purchase his own insurance policy to cover this type of flying. Non-owned CFI policies are available.
6. Is there a difference between buying liability on a “per person” basis and a “per passenger basis”?
YES! Changing the words of “per passenger” to “per person” totally changes the meaning of the policy. Policies with liability on a “per person” basis do not offer as much coverage and, in many cases, are cheaper. But BE AWARE! It is purely a marketing ploy. The numbers may look the same but the policy is not. Avemco does this quite often.
Example: In July of 2007, a Cessna 310 experienced problems and crashed into two houses where there were three people in the houses and two passengers on board. With a policy limit of $100,000 “per person”, each of the heirs of those three people killed on the ground can only collect up to $100,000 each (per person). If a court renders that each life had a value of $200,000, then the insurance would pay $100,000 each and a judgement be held against you for $100,000 each.
Under a “per passenger” policy, the $100,000 limit is on the passengers. In the above scenario, each person in the houses could potentially have enough out of the $1,0000,000 (if that were the total limit) to cover the $200,000 each awarded.
Our suggestion? ALWAYS at LEAST get a per passenger policy.
7. What if I have a claim?
Call us at 866-833-5224 or you can also call the companies claims direct at the numbers listed under “Claims” on this sight.
8. What about service from Advantage Aviation Insurance?
All Aviation Specialist use pretty much the same companies. Therefore, the most important thing we have to sell is our service to you. We pride ourselves in making every attempt to be available to you 24/7. Nights, weekends, and yes even holidays. Whether it’s for something serious or if you just have a question.