By BOB MACKEY
Did you know traditional life insurance policies exclude all aviation risks except flying as a passenger onboard a schedule air carrier?
No? Well, you are not alone.
Can you have a traditional life insurance policy modified to include personal aviation? Yes, but it is expensive and you still might have some types of flying — like aerobatics or Phase 1 fly-off restrictions — that may be excluded.
There’s another problem. [Read more…]
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. [Read more…]
There is a new way to save money on commercial aircraft insurance: Paying for insurance per hour. Flight schools, aircraft rental operators, charter operators, flying clubs, aerial mapping and survey, and any other qualifying commercial operators that are MyFBO.com subscribers are eligible for the new Pay-By-The-Hour Insurance Program.
Subscribers pay a fixed premium charge for the non-flying exposure to their aircraft computed on a daily basis. Then they pay an hourly rate for each hour their airplane flies, based on Hobbs Meter. Hours flown are automatically reported to Phoenix Aviation Managers from the MyFBO.com software and then an hourly insurance statement is automatically generated and emailed to the subscriber’s insurance agent or broker.
The Pay-By-The-Hour Insurance links insurance costs to operating hours. Subscribers will pay less during months of below-average flying hours and more during months of above average flying. However, they will never pay more than their normal annual premium.
XL Insurance has expanded its US aviation operations with four new appointments to its New York-based underwriting team.
New are underwriters Armand Ferranti Jr., Eileen Mitchell and Charles Koehler, and business analyst Isabel Marin.
For more information: www.xlinsurance.com/aviation.