Is an annual aviation insurance review on your checklist? With the changes in the insurance market it can be critical that you don’t wait until the last minute to renew your policy.
It’s the start of a new year and one typically makes resolutions and to do lists. We set out to accomplish things like - get healthier, exercise, schedule your annual physical …and for pilots, perhaps fly more! Another important mission should be included on your list – an Annual Aircraft Insurance Review. This year, for aircraft insurance, it is even more important than ever to start your insurance renewal or shopping process early. The aviation insurance market is changing, premiums are rising, and underwriters are taking a close look at each policy. Check out this article from AIN that quotes AOPA President Mark Baker.
With the changes in the insurance market it can be critical that you don’t wait until the last minute to renew your policy. Start early so you and your insurance broker can shop the market and find the best policy to suit your needs. Also, it’s essential you don’t just “price shop”. You want to be confident you are comparing “apples” to “apples”. Insurance language is not always easy to understand, so it’s important to enlist the aid of a trained insurance professional to review the policy with you. Ensure your knowledge of insurance terms and vocabulary for a healthy understanding of your aviation insurance policy.
Do you know the difference between these aircraft liability limits?
Check the liability limits on your policy to understand your aviation insurance coverage before your next takeoff.
If you need help understanding your policy or would just like a review or FREE no obligation quote, please give us a call 800.622.2672 or visit us online. As AOPA’s partner for aviation insurance, AssuredPartners Aerospace is standing by to help you get the right coverage to meet your needs and budget.