There are many reasons to go to a fly-in and I’m betting looking for aircraft insurance isn’t one of them.
However let’s say you are looking for an airplane or a kit and you’re at a fly-in to check out some options. Why not check out insurance? There are all sorts of exhibitors, including aircraft insurance brokers.
There are roughly 15 aviation insurance companies and all but one work exclusively through aviation insurance brokers.
The broker works for you to finds the right insurance at the best price. The broker gets paid a commission when they arrange insurance for the aircraft owner. Your goal is to find the right broker who will do the best job for you.
If you are interested in checking out some aircraft insurance options, what do you need to know?
When you arrive at the fly-in, look at the list of exhibitors and identify the aviation insurance brokers.
Go to each exhibit and stand back to see what’s going on. Also, check out each exhibit to see what their message is.
When you are ready introduce yourself, let the broker know what you are looking for. I call this the “listening stage.”
If the broker goes directly to asking all sorts of questions about your aircraft so they can get a firm quote for you, just says no thanks and walk away.
The broker will definitely ask you some questions about you, your airplane, the kind of flying you do, and what insurance coverage you are looking for. This is only so they will better understand your objectives. But a good broker will listen to determine how they can help you achieve your goal.
The broker will then either give you a ballpark price or will move to get all of the details for a firm quote if that is what you want. Remember it is up to you.
In either case, the broker should explain coverage options and they may offer other suggestions that will help you maximize your protection and minimize the cost of insurance.
If you are looking for a firm price, the broker may need to contact several aviation insurance companies to get the best options for you. Regardless, the broker will give you their contact information and they will follow up with you or you may also contact the broker after the fly-in.
The one thing you do not need to do at a fly-in is go around getting aircraft insurance quotes from every broker.
As I mentioned earlier, there are a limited number of aviation insurance companies and the brokers all go to these same companies for quotes.
What you are looking for at a fly-in is the broker who listens to you and will get you the right insurance at the best price based on your objectives.
Bob Mackey is a representative for the EAA Aircraft Insurance Plan, which is administered by Falcon Insurance Agency.