Private Aircraft Insurance

Aviation insurance is significantly different than personal home or auto

insurance, but insuring your aircraft can be made simple if an aircraft insurance
expert is used to properly place your coverage.

The aviation insurance experts at Travers & Associates work hard to earn and
retain your private aircraft insurance business. Our customers range from the
weekend sport pilot to the largest Fortune 500 companies. We are able to write
coverage on everything from small experimental kit aircraft to Very Light Jets to the
largest airline fleet. Our company was founded by pilots and we make it a priority to
be experts in all aspects of the aviation industry. It is important to remember that
we work for you!

We will do our best to make sure that your aviation insurance needs are met
throughout the years. No question or request is considered too small. Each policy
period you will be contacted for your updated pilot information. We will then cover
the entire insurance market and negotiate the best possible terms for your specific
risk. We will only place your coverage with one of our premier aviation insurance
companies.

At Travers & Associates we promise to make every policy a priority!

 Single Engine Piston Aircraft Insurance
Insurance for piston, single-engine aircraft is generally the least expensive
and most easily attainable aviation insurance coverage available. Compared to
other types of coverage, single-engine aircraft insurance rates are extremely low,
even lower than insurance for some automobiles. The value of the aircraft is a major
factor in determining the premium, so an airplane with a lower value will generally
cost less than one insured for a higher value.

Insurance rates will vary depending on the value, performance, and

complexity of the aircraft and the experience of the pilot. Experienced pilots will be
offered the best rates and terms. Coverage is available for student and low-time
pilots at lower rates than you may think.

Primary training in a single-engine aircraft is easy, relatively inexpensive, safe,

and a risk desired by almost all aviation insurance companies in the industry.
Higher-valued and high-performance aircraft are individually underwritten to
determine the best training scenario for you. Insurance underwriters may require
additional training prior to solo flight and carrying passengers.

Note: Training for any pilot not specifically named on your insurance policy is
usually excluded unless specifically endorsed on the policy.
Twin Engine Piston Aircraft Insurance
Travers and Associates has been insuring twin-engine aircraft since 1950.
Experienced pilots can easily purchase affordable twin-engine aircraft insurance
through our agency at reasonable rates. Pilot experience and aircraft specifics
determine how premiums are calculated. The insurance companies generally reward
more experienced pilots with better rates and terms.

For lower-time pilots, insurance for a twin-engine aircraft can be complex. This
is where our long history in the aviation insurance industry can help tremendously.
We have experienced aviation professionals available to help place your risk and the
skills and expertise to professionally present it to the insurance underwriters. We
have excellent working relationships with our underwriters spanning almost six
decades, guaranteeing our customers preferred access and the best possible terms
available in the industry.

A private pilot transitioning from a single to a twin will be required to train in

the aircraft with a CFI for a specified length of time. The amount of required training
will depend on the pilot, the value and performance of the aircraft. Each pilot is
unique; therefore, training requirements will be individually underwritten.
Very Light / Personal Jet Aircraft Insurance
Travers & Associates has been at the forefront of insuring Very Light Jets since
the concept was introduced, working hand-in-hand with underwriters,
manufacturers, and training facilities. We currently insure a significant portion of the
VLJ aircraft flying worldwide. Not only do we offer the best prices in the industry, but
we also promise the security of decades of private jet aircraft insurance experience.

Travers is dedicated to making sure our customers have the best possible
policy at the most competitive premium. We pride ourselves on finding policies
tailored to our customers needs. VLJ aircraft are new and unique to the industry
and have special requirements only an aviation insurance specialist should be
trusted to handle. Because of the newness of the aircraft and its design features,
issues such as parts availability may arise during a claim. Proper liability limits are
also important. With our background and close working relationships with
underwriters and VLJ manufacturers, Travers has the expertise needed to enhance
the quoting and claim process.

Insurance training requirements for transitioning to a VLJ can be simple and

reasonable when trusting Travers to assist in the process. We work with training
facilities, VLJ manufacturers, and insurance underwriters to develop training
program guidelines on an individual customer basis, which gives us the ability to
insure virtually any pilot in VLJ aircraft. Such programs often entail simulator-based
training along with actual time in the aircraft (with a mentor pilot, during real-life
flying missions). The result of developing such an individualized program is a
transition that is easy, affordable, and safe. We will help new turbojet pilots
understand training options and requirements. Pilots who before would be required
to transition through many different aircraft to eventually fly a private jet can now
make the move into jet aircraft safely and, in many cases, with great ease.
Turbo Jet Aircraft Insurance
Some jet owners make the mistake of working with their general property and
casualty agent. This can be a huge mistake that can leave you not only paying
exorbitant premiums year after year, but also uninsured or underinsured in the
event of a loss. Policy language and FAA regulations may be difficult to understand.
If your agent is not familiar with aviation terminology, you may not be fully covered
when a loss occurs.

Questions that might be asked include:

Do you have full hull ground and flight coverage?

Is your new engine covered fully?

Are you carrying the proper liability limit for the aircraft missions flown?

Are your employees covered?

Are you covered to rent, lease, or loan the aircraft to a business, relative, or
friend?

The answer to these questions may be a solid NO! This is where an aviation
insurance specialist is absolutely needed to help answer these difficult questions.

Frequently, a general property and casualty insurance broker will consult us to

help place coverage. We cover the entire market and specialize in finding the
broadest possible coverage at the lowest price. Let us take the hassle out of
insuring your jet. We know the ins and outs of jet insurance and may be able to save
you thousands of dollars annually.
Warbird Aircraft Insurance
Travers Aviation Insurance currently insures a large percentage of the WWII
aircraft flying in the USA. We are warbird specialists and sponsors of countless fly-
ins, safety seminars, air shows, and formation flight events. We have preferred
access to the official EAA warbirds of America aircraft insurance program through
U.S. Specialty Insurance Company. This program is specifically designed to meet the
unique insurance needs of warbird owners. The EAA warbirds of America Insurance
program is rated A+ by AM Best, and our customers benefit from discounts for
safety and training. Many warbirds owners are a fit for the EAA warbirds of America
program. For those who are not a fit, we offer coverage through several other of
our preferred underwriters.

You can trust that your agent at Travers & Associates is familiar with warbirds
airplane insurance. Our agents rarely come across an aircraft with which we are
unfamiliar. We can competitively insure virtually any warbird from trainers to one-of-
a kind high performance fighters. We are warbird insurance experts knowledgeable
of the specific needs of the aircraft, and we can quickly produce the necessary
DD2400 forms and certificates for airports and airshows. Coverage is available for
formation flight, airshow flybys, static display, aerobatics, personal pleasure, and
hire. Travers has the experience, expertise, and relationships with the insurance
underwriters to obtain the best possible insurance terms of coverage for your
warbirds.
Home Built / Experimental Aircraft Insurance
As EAA members and yearly exhibitors at AirVenture, our experimental aircraft
insurance experts are knowledgeable and willing to help with every insurance
detail. We offer experimental aircraft policies through several premier insurance
companies including but not limited to the EAA insurance program underwritten
through Global Aerospace. We are a leader in experimental and home-built aircraft
insurance.

Travers can insure virtually any experimental aircraft. We write insurance

policies for aircraft dating back to World War I and earlier. We can insure one-of-a-
kind aircraft and home-built aircraft as well as famous aircraft replicas from the
early days of flying. We can insure full hull and liability for aircraft in museums on
static display or while flying.

It is important to have an aviation insurance specialist that can place

coverage with the best insurance company and help create the best insurance
policy for your individual experimental aircraft risk. It is important to work with not
only an aviation insurance specialist but also one who is knowledgeable about
experimental aircraft. Some experimental aircraft fly higher and faster, perform
better, and are worth more than other similar standard aircraft. Your agent needs to
understand the characteristics of each experimental aircraft to insure your
investment is properly covered.

We offer low or no deductible policies and broad coverage at competitive

pricing. Let our 58+ years of being aviation insurance specialists go to work for you,
our customer.
Seaplane Aircraft Insurance
Captain Bob Travers, our founder, was passionate about water flying; he
enjoyed telling flying stories and showing off his model PBY aircraft to his great
grandchildren. His love of Seaplanes has carried over into his insurance agency
since 1950. One of Travers most competitive programs is our Seaplane insurance
program. We cover the aviation insurance market, including the companies who
most competitively insure floating aircraft. We are more than just familiar with your
individual aircraft: we are long term Seaplane Pilots Association members and
insure a significant amount of the Seaplanes in North America. We have outstanding
long term relationships with the underwriters taking on the Seaplane risk.

There are a limited number of carriers underwriting seaplanes, and they each
have their own special target in this small market. As specialists in the field, Travers
represents the entire aviation insurance marketplace and can expertly place your
float plane risk, helping to reduce premium and obtain broader coverage.

We can insure almost any Seaplane risk and pilot combination from
experimental float aircraft to the most standard Seaplane, flown by student pilots to
high time airline pilots. We know the companies that quote seaplane insurance
favorably and can save you hundreds and sometimes thousands of dollars per year
on your premium.

Whether you are a commercial Seaplane operator, a seasoned Seaplane

private pilot, a pilot transitioning into a Seaplane, or a student pilot starting training
in a Seaplane, we can professionally meet your insurance needs with one of our
many outstanding premier insurance companies. We insure Seaplanes, float planes
and amphibious aircraft. Does your insurance agent have you adequately covered
for water landings? Let the Seaplane experts at Travers & Associates help.
 Corporate Aircraft Insurance
Corporate aircraft insurance is unique and therefore requires an aircraft
insurance specialist. Aircraft insurance policies are different than other standard
lines of insurance and, therefore, require a specialist. Aircraft insurance policies are
written using language unique to the industry: FAA language differs from policy
language, requiring an aviation specialist to assist with placing the coverage.
Trusting a multimillion-dollar hull coupled with liability limits into the hundreds of
millions to a broker who is not a specialist can be a costly mistake.

In the aviation insurance industry, a professionally flown corporate aircraft will

usually fall into the category of Industrial Aid. A professional crew flying well-
maintained aircraft on business missions for executive and employee transportation
has historically proven to be one of the safest risks in the industry. Industrial Aid
policies will generally contain the broadest coverage for the lowest rates.

As an aviation insurance expert, Travers & Associates can help coordinate the
proper hull insurance coverage and offer expert advice on liability coverage into the
hundreds of millions through one or several of our preferred insurance companies.
Cabin Class Twin Engine Aircraft Insurance
Compared to light aircraft, larger twin-engine aircraft bring on new and larger
risk exposure. Passenger liability, training requirements, more complex and
expensive equipment, and general policy wording become even more important.
When you call Travers, you will speak with an aviation insurance specialist, most of
whom are pilots. Our knowledge of your aircraft, the training facilities, and the
insurance industry help us put together the best possible insurance package for you
and your plane.

Many insurance companies will require pilots flying Cabin Class Twin aircraft to
attend an approved school in the make and model annually. While we do agree with
this school requirement, we understand that every pilot is different. In some cases
annual school in the make and model may not be required. Because most of our
brokers are pilots, they understand your needs. We pride ourselves on being
understanding and flexible for you, our customer.
Turboprop Aircraft Insurance
Travers Aviation Insurance is well versed in insurance for turboprop aircraft,
which is more complex than many general agents understand. While flying a
turboprop aircraft is, in many ways, simpler and safer than flying a piston driven
aircraft, turboprop aircraft generally fly higher and faster and carry more
passengers. It is important to address the affiliated risks. Each mission a turboprop
aircraft flies is different, and so is the insurance policy needed to cover that mission.
Even if the turboprop aircraft is flown for Part 91 use only, it is important to
understand the differences between the FAA regulations and the insurance policy.
As corporate aviation specialists, our experts can be your advocate in creating the
most comprehensive policy to suit your needs.

We work directly with turboprop aircraft manufacturers, training facilities, and

insurance underwriters to help create the safest risk exposure possible.

Insurance for transitioning a pilot into a turboprop aircraft from a piston aircraft
needs to be individualized. We are skilled in negotiating reasonable training
programs for our transitioning customers. Our training requirements are tailored to
the pilot using make and model schools, simulators, and mentor pilot training in the
aircraft itself.

We can also provide coverage for some of your unique flight missions. You can
expect better service, lower premiums, and many other benefits than your current
agency can provide. We are not just offering a low price on airplane insurance; we
are the very best at what we do. We will provide you with an entire market outlook
and insurance audit free of charge.

Helicopter Insurance
Insuring a helicopter can be an easy process when dealing with the right
agent. We have specialized in helicopter insurance and have been active with
helicopter organizations since 1950. Travers & Associates is a member of Helicopter
Association International (HAI) and uses its 58 plus years of insuring rotor wing
aircraft to negotiate the best price and policy for you, our customer.

We can insure virtually any rotorcraft and take the time to understand each
customers operation. We can provide helicopter insurance for the individual owner
operator or for commercial helicopter fleets. With its diverse capabilities, the
helicopter has the need for a specialized policy. Whether youre cattle herding, fire
fighting, sling loading, or an EMS operator, we can help you find the best policy for
your operation.

Travers & Associates offers hull and liability insurance to our customers
through several of our premier companies at competitive pricing. Our insurance
policies do not depreciate the value of your helicopter as you build hours, and in the
event of a claim, we have claims offices nationwide to help protect you and your
helicopter. We also provide Breach of Warranty coverage that is accepted by
banking institutions for helicopter owners with liens.
AIRCRAFT INSURANCE COMPANIES

The Aircraft Insurance directory contains listings for aircraft and pilot
insurance providers domestic and international. Providing aviation
insurance, aviation underwriting, aviation accidents, aircraft physical
damage, aircraft hull and liability, fixed wing insurance.

Aircraft Insurance: Aircraft Hull Insurance

Aircraft Insurance: Pilot Insurance

Aircraft Hull Insurance Listings 1 through 25 of 52...

 Aircraft & Marine Insurance - Vancouver, WA (VUO) - We have been
insuring all aspects of aviation including life insurance since 1976 in 50
states. Please call us first for the best possible quote. We offer personal
service where we know you by name.
Closest airport

Aviation Insurance Resources - Frederick, MD (FDK) - Don't even think of

calling another agent until you call AIR first! Access the entire insurance
market with just one call. Best rates, Broadest coverage. Aircraft insurance,
Renters insurance, FBO insurance, Airport insurance, Hangar insurance.
Closest airport

Epic Insurance Solutions - Louisville, KY (LOU) - Aviation Department

specializes in aviation products, aircraft, Aviation GL, aviation work comp,
airports, clubs and our commercial side writes all lines.
Closest airport

Aero Alliance Insurance Services, Inc. - Atlanta, GA (PDK) - Aero Alliance

mission is to make certain that all clients receive the most competitive rates
in the world. We maintain an excellent market reputation and global network
combined with depth of experience and innovative thinking that offers a real
alternative to clients who value individual attention and creative solutions for
their insurance needs.
Closest airport

Air-Sur, Inc. - Ormond Beach, FL (OMN) - Dedicated to delivering a wide range

of insurance services primarily to Aviation and Aerospace Clients.
Closest airport

Alexander Aviation Associates - Apopka, FL - Representing aircraft owners,

pilots and aviation businesses since 1978 by making aviation insurance easy,
fast and affordable. Call us now for a better quote.

Allianz Global Corporate & Specialty - London, United Kingdom - Specialist

aviation insurance services for the full spectrum of global aviation risk,
including airlines, aerospace and general aviation insurance.

AOPA Insurance Agency - Wichita, KS (ICT) - The AOPA Insurance Agency

offers free online aircraft insurance quotes for owners, renters and CFIs. We'll
shop the market for you to find the best policy at the best value.
Closest airport
 AUA, Inc - Greensboro, NC - Our insurance programs offer discounts. FREE
Nationwide Quoting

Av-Guard - Sanford, FL (SFB) - New and affordable unscheduled aircraft

maintenance protection program. Av-Guard is administered by EPG and
underwritten by Lloyds of London. Budget accurately each year and fly with
peace of mind.
Closest airport

Aviation Assurance, Inc. - Fort Lauderdale, FL (FLL) - Since 1983, Aviation

Assurance provides risk management consulting, insurance advice and
extensive insurance placement for organizations Worldwide.
Closest airport

Aviation Insurance Managers, Inc. - Uniontown, OH - Your one-stop aviation

insurance agency. We provide aviation insurance of all types, including
aircraft physical damage and liability, airport liability, corporate and business
accounts, and products.

Aviation Insurance Network - Stuart, FL - The Nation's Aviation Insurance

Advisors.

Aviation Insurance Services - High Point, NC (GSO) - Actively insuring

privately owned aircraft for non-commercial use.
Closest airport

Aviation West Insurance Brokers, LLC - Vista, CA (CRQ) - Providing quality

service, coverage and value for over 25 years.
Closest airport

AviationUnderwriters - Cocoa, FL - Loss of Licence, Hangarkeepers, Hull and

Laibility. Non-US risks a specialty. Any plane, anytime, anywhere.

BWI Aviation Insurance I UAV, Hangar, Rotor Wing, Commercial and Charter -
Corona, CA (AJO) - The Nations Leader in Aviation Insurance with New Lower
Insurance Rates for 2017! Fastest Online Quote Submission in the Industry,
Get a Quick Quote Today!
Closest airport

Charles W Bilella Agency, Ltd - Blue Bell, PA (LOM) - Aviation Insurance

Specialist since 1972. Personal, Business, Corporate, FBO's, Maintenance&
Avionics Shops.
Closest airport

Colucci Insurance - Tampa, FL (TPA) - We have access to several markets for

the most affordable insurance for the aviation industry including aviation
 workers compensation.
Closest airport

Conour Aviation Insurance - Birmingham, AL (BHM) - Aircraft and Aviation

Insurance Broker for Aircraft Owners and Operators, Airports, FAA Repair
Stations, Flight Schools and Fixed-Base Operators. We insure all types of
Aircraft and Aviation Operations with access to all the major companies. Call
toll free (855) 755-2013.
Closest airport

CS&A - Franklin, TN - CS&A Aviation Insurance is a division of Chappell, Smith

& Associates, Inc., a full-line insurance agency dedicated to serving its clients'
risk management needs.

CS&A Aviation Insurance - Lawrenceville, GA (LZU) - Aviation Insurance

Specialists
Closest airport

Davidson & Derion Insurance, Inc. - Pittsburgh, PA (PIT) - Has earned its
reputation by giving special attention to our customers' needs. We help our
clients simplify their insurance and cut costs, and we stand by them when
they need us, day or night.
Closest airport

Dixie Aire - Oklahoma City, OK - We have been present for all of the changes
made by the FAA through the past three decades and continue to monitor
adjustments and clarifications made to the registration rules by the FAA. We
have the experience and knowledge to meet your Aviation Title and Escrow
needs.

Faims - Mudjimba, Australia - Insurance, aviation insurance, helicopter

insurance, fixed wing insurance, personal accident and loss of licence
insurance, hull insurance, hanger keepers insurance, spare parts insurance.

Aircraft Hull Insurance Listings 26 through 50 of 52...

Falcon Insurance Agency Great Lakes - Columbus, OH (CMH) - For over 20

years we have made it our business, our only business, to cover the
insurance needs of the aviation community. We represent all aviation
insurance markets and have 13 offices nationwide.
Closest airport
 Global Aerospace - London, United Kingdom - Aircraft Insurance Service USA,
Canada, UK.

Hayward Aviation Limited - London, United Kingdom - We are Lloyds

Insurance Brokers specialising in Aviation Insurance.

Insuramerica Aviation Incorporated - Liburn, GA - Insuramerica Aviation, one

of the largest independent aviation specialty brokers in the southeast, has
been insuring aviation risks since 1972. During that time we have established
a strong presence in the aviation insurance marketplace which gives us the
power to negotiate the broadest, most competitive terms available. In
addition to aviation specialty coverages, our affiliation with Insuramerica
National Corporation provides us with a high level of expertise to meet your
non-aviation coverage needs and to assure the proper integration of
coverages.

James A Gardner Company Inc - Marietta, GA (RYY) - Your complete Aviation

Insurance Resource. Providing our clients with the best value from the best
insurance companies tailored to your operational need while delivering the
personal service you deserve.
Closest airport

Johnson Aviation Insurance - Madison, WI (MSN) - Our Certified Aviation

Insurance Professionals are licensed pilots with advanced ratings. Our direct
relationships with aviation insurers mean full access to a wide array of
coverage & pricing options.
Closest airport

Kel Petersen & Associates, Inc. - Kansas City, MO (MCI) - Professional and
courteous service since 1971. Specializing in all types of aviation related
risks.
Closest airport

KPD Insurance, Inc. - Medford, OR (MFR) - started out in Springfield Oregon

and now are one of the largest independent insurance agencies in the
Northwest and can provide coverage virtually anywhere in the World.
Closest airport

Ladd Gardner Aviation Insurance - Addison, TX (SDL) - With a combined 60+

years experience in the industry, our carefully selected team is here to help
you protect your aviation investments.
Closest airport

Lance Toland Associates - Griffin, GA (6A2) - We are aviation insurance

specialists and pilots with combined experience of over 60 years in aviation.
We have access to all the markets. We know what is important to you. We
 work for you to find the best coverage at the lowest possible rates for the
type of flying you do.
Closest airport

LL Johns & Associates, Inc. - Waterford, MI (PTK) - LL Johns & Associates is one
of the countrys premier independent insurance agents, specializing in
coverage for aviation operations of all sorts.
Closest airport

NationAir Insurance Agencies, Inc. - West Chicago, IL (DPA) - Aviation

insurance is all we do. Our unrelenting focus and expertise in this one area of
insurance is your guarantee of obtaining the best coverage available.
NationAir Insurance Agencies is one of the largest aviation insurance brokers
in the country. Established in 1978, we have 10 offices across the country to
serve you. Visit us today.
Closest airport

National Aviation Insurance Agency, Inc. - Acworth, GA (RYY) - Take advantage

of former insurance company underwriters now working for you. We use our
knowledge and experience working for the insurance company's to maximize
your coverage and minimize your premium.
Closest airport

Norcom Insurance - Avon, CT (BDL) - Aircraft Insurance; Product Liability;

Airport Liability Insurance; Hangar Keepers Insurance; Hangar, Commercial
Auto and Workers Compensation Insurance
Closest airport

Professional Insurance Management - Wichita, KS (ICT) - Insurance for every

aviation need! We insure most all forms of aviation insurance through all of
the aviation insurance markets.
Closest airport

Regal Aviation Insurance - Hillsboro, OR - offers the finest full service aviation-
only insurance agencies on the West Coast.

Salem Five Aviation Services - North Andover, MA (LWM) - Aircraft Insurance

and Financing - We are a full service insurance broker serving all aspects of
the aviation community. We also provide high quality aircraft financing
through select providers.
Closest airport

Shoreline Aviation Insurance - Jasper, AL - At Shoreline Aviation Services, LLC,

our executive staff consists exclusively of pilots with advanced ratings and
additional specialized experience in everything from information technology
to aircraft maintenance.
 SkySmith Inc. - Ankeny, IA (IKV) - An insurance services company specializing
in personal knowledgeable customer service and providing: Aviation
Insurance, Boat Insurance, Custom Car Insurance, Motorcycle Insurance, Pilot
Life Insurance and more...
Closest airport

Southwest Aviation Insurance Group - Scottsdale, AZ (SDL) - Free online

quotes for all types of aviation insurance.
Closest airport

Sutton James Inc - Hartford, CT (HFD) - Insurance for all your aviation needs -
helicopter, UAV, fixed wing aircraft, corporate jets, repair shops, flight schools
and everything in between!
Closest airport

Transport Risk Management, Inc. - Conifer, CO (EDN) - Transport Risk

Management, Inc. are brokers engaged in the practice of aviation insurance
and risk management services with representatives in Denver, CO, Austin,
TX, Dallas, TX, Los Angeles, CA and Scottsdale, AZ.
Closest airport

Travers & Associates Aviation Insurance - San Diego, CA (SEE) - Aviation

Insurance Specialists Since 1950. We can competitively insure virtually any
aircraft / pilot combination from light sport aircraft to the largest airline fleet.
Closest airport

Trio Avionics - El Cajon, CA (SEE) - Trio Avionics designs and manufactures

autopilot products engineered for outstanding performance, while keeping
them attractively priced for the homebuilt / experimental aircraft market.
Closest airport

United States Aircraft Insurance Group - Chicago, IL - For more than eight
decades, weve been a leading provider of insurance to the aviation and
aerospace industries. Weve been there, time after time, to support the
innovations that have pushed aviation to the next chapter.
Aircraft Hull Insurance Listings 51 through 52 of 52...

Wenk Aviation Insurance Agency - Highland Park, IL - Wenk Insurance Agency

aims to coordinate as much of your total insurance program as you'll entrust
us with. We use our 68 years of multi-lines experience to independently place
your coverage in the best carrier for your situation, using top-rated,
established companies.

Zanette Aviation Insurance Service, Inc - San Carlos, CA - - With over 25 years
of experience, our knowledgeable brokers have arranged thousands of
aviation insurance policies for clients all across the United States. ZANETTE
Aviation Insurance Service, Inc. has developed a successful working
relationship with all of the most competitive aviation insurance companies.
We know what the aircraft insurance underwriters want, and know how to get
the best price on aviation insurance combined with the best insurance
coverage.
Pilot insurance companies offering full comprehensive life insurance
coverage with no aviation exclusions for private and professional pilots

Pilot Insurance Listings 1 through 11 of 11...

Pilot Insurance Center - Addison, TX (ADS) - Preferred Life Insurance Rates

for Pilots
Closest airport

AFLAC - Columbus, GA (CSG) - currently offering group policies for loss of

license
Closest airport

Avemco Insurance Company - Frederick, MD (FDK) - Avemco is only direct

writer of GA aircraft owners and pilots. That means you have one-on-one
access to your insurance company. Contact Avemco today and find out for
yourself the direct advantage.
Closest airport

AVION Insurance Agency - sanford, FL - AVION Insurance Agency is an

aviation insurance specialty broker exclusively dedicated in the placement
and servicing of Aviation Insurance risks for over 25 years. AVION has earned
a superior reputation by consistently providing excellent customer service,
market knowledge, professionalism and commitment to the Aviation
Insurance Industry over the past two decades.

AvPac - Santa Ana, CA - AvPac Insurance Services, Inc. is a full-service

aviation insurance brokerage located in Southern California representing
clients all over these United States and their aviation insurance needs around
the world. We are client centered, service oriented and industry savvy. We
enjoy what we do and it shows in our workmanship. Call or email us today.

CS&A Aviation Insurance - Franklin, TN - CS&A Aviation Insurance combines

one of the most knowledgeable teams of aircraft insurance professionals with
the aviation insurance industry's most respected underwriting companies.

Falcon Insurance Agency - Kerrville, TX - For over 35 years we have made it

our business, our only business to cover the needs of the aviation community.
 Regardless of a customers size, Falcon has the expertise to find the right
product for their needs.

Harvey Watt & Co. - Atlanta, GA (ATL) - With a total nearing 65,000 pilots,
Harvey Watt & Co. is the largest provider and manager of professional pilot
disability, AeroMedical & professional pilot life insurance in the US. Our
success spanning six decades is thanks to our unique understanding of a
pilot's physical requirements & how to insure it. We manage the pilot
disability programs for nearly all US Airlines and provide unique supplemental
Life & Disability products for many of them.
Closest airport

MacKenzie Aviation - Painesville, OH - Thank you for taking the time to visit
our online web service. Whether you are a long-time valued customer or
looking for a new agent, we are your full-service aviation insurance agency.

PIM Aviation Insurance - Wichita, KS - Since 1982, PIM has served pleasure,
commercial and business aircraft as well as FBOs, aircraft and parts
manufacturers, agriculture aviation and airline operations with creative
problem solving and negotiation. PIM also offers pilot life insurance. Located
in Wichita, Kansas the Air Capital of the World PIM employees live and
breathe aviation, delivering years of industry experience with a passion to get
and keep our clients flying.

Travers & Associates - St. Louis, MO - At Travers & Associates our approach to
pilot life insurance is simple; provide the most accurate quote for life
insurance that will address your aviation activity. Once you have submitted
your pilot life insurance quote request we will review your submission and
begin a thorough individual evaluation with underwriters at several of the
worlds largest insurance companies. We will provide you with a quote that
takes into account both your aviation and your health history. The rate quoted
will reflect over 50 years of knowledge and experience in the aviation
insurance business.
RESOURCES
A collection of resources noted in PlaneViz blog posts, podcasts, or otherwise useful
or interesting.

Aviation/Airline Sites

Airline-History Site featuring a collection of historical information, photos

and videos of past and current airlines.

Angel Flight Southeast Provides free medical and mercy flights to those
need.

Braniff Pages A site devoted to Braniff International, which rivaled (bested?)

Northeast when it came a distinctive livery.

Fear of Landing Author Sylvia Wrigleys aviation site featuring interesting

content including accident/incident investigation.

Flighttime Radio Weekly aviation radio program broadcast each Saturday.

Call in and be heard world-wide.

Fly The Widget Perry De Vlugts amazing collection of Delta Airlines

memorabilia. Were talking more than a mere shoe box!

GliderSource Bill Palmers free soaring classifieds for everything soaring

related.

H.A.R.P. Historical Aircraft Restoration Project A working aircraft restoration

facility and museum located at the former Floyd Bennett Field in Brooklyn, NY.

OpenAirplane Makes renting airplanes as easy as renting a car. One check-

ride enables you to use you pilot privileges nationwide.

The Aviation Writer Aviation website with interesting and often unique
stories.

vREF Aircraft valuation service for brokers, dealers, financial institutions,

and individuals.
Aviation Books

Flight for Control Your life is in your pilots hands. Do you know whos flying
your plane? A novel by airline pilot Karlene Petitt. Great read, loved it!

Understanding Air France 447 -Written by A330 pilot Bill Palmer, there are
important lessons to be learned from this accident for everyone that flies with
an autopilot. This book will help you learn them.

Why Planes Crash: 2001 Understanding modern aviation disasters. A look at

selected crashes that occurred in 2001. A captivating read for all and
valuable lessons for pilots by Sylvia Wrigley.

You Fly Like a Woman Rave reviews. The story of one womans search for
confidence as she stumbles into a mans world. Also by Sylvia Wrigley.

Airliner-Aviation Photos

60s Airline Antiques A collection of memories mostly from the 1960s, the
golden era of the airline business

Airlines-Airliners Site with an outstanding collection of high quality photos

featuring defunct airlines and the planes they flew as well as retired classics
from existing airlines.
COST OF AIRCRAFT OWNERSHIP

Dave Goodwin / 2013/06/20

What does it cost to own and operate an airplane?

I discuss my own airplane ownership experience and cover Finance, Insurance,

Maintenance, Upgrades and Add-ons, Hangar vs Tie-down, and engine reserve. Ill
also share my strategy for ensuring there are no surprises when it comes to paying
for airplane maintenance.

The instrument rating did not significantly reduce the insurance premium; it was the
hours that mattered.

Today were going to talk about the cost of aircraft ownership based on my
experience owing a Piper Warrior. Ive had my share of expenses and one
investment, which Ill share with you later on. This information is aimed mainly at
new airplane owners or people who are considering buying an airplane.

Its often said you need to fly 100 to 150 hours a year to justify the cost of owning
an airplane. But for the most part, you buy an airplane for the freedom it gives you
to go where you want to go, when you wanna go and also to equip it and maintain it
up to your own personal standards.

The cost areas associated with owning a light general aviation airplane that youre
probably not exposed to as a renter are financing, insurance, maintenance,
operating cost and of course, hangar or tied down.

Financing. Lets start with personal aircraft financing. To finance your airplane,
you probably need 20% down, thats the common threshold. You can approach
small banks and credit unions about an aircraft loan. Bank of America and AOPA
have an aircraft loan relationship. Bank of America has its own aircraft lending unit.
If you have home equity, you could consider a home equity loan to purchase the
airplane which would allow you to deduct the home equity loan interest.

Also included in the aircraft financing are various government tax programs for new
and used planes that enable you to accelerate the depreciation. Thats something
you may want to investigate with your accountant.

Expect to pay anywhere from $600 per year and up depending on the airplane, your
time in type and total hours.

Insurance. Next up is insurance which, like car insurance, protects the aircraft
owner from financial loss caused by damage to the airplane or persons or property.
The main factor with insurance is the time in type and total number of hours you
have.
If your first airplane is a complex airplane, that is, one with a retractable landing
gear and a constant speed prop, then you might have to fly with an instructor for a
certain number of hours specified by the insurer before you can fly solo.

Insurance policies on small planes are generally what are called name-insured
policies. That is a policy written on a certain airplane. Pilots are named to that
policy. Obviously, you as the owner would be one of the names insured. If you have
other people who are allowed to fly the plane, they would also be named on the
airplane insurance policy.

There is also a provision for open pilots on these name-insured policies. Open pilot
standards might be something like a pilot with 100 hours and 25 hours in type. In
which case, the insurance company is going to assume that that pilot is qualified to
fly the airplane and he will not have to add that person as a named insured.

Expect to pay anywhere from $600 a year and up for your [annual aircraft
insurance] premium depending on the airplane, your time in type and your total
hours. $1,100 a year seems to be fairly typical of a Cessna 172 class airplane flown
by a VFR pilot. That was what I was paying when I first bought my PA-28 Warrior.
After I reached 350 hours total time (by which time I also had my instrument rating),
my insurance premium went down to $600 a year. The instrument rating did not
make a significant difference in the premium; it was the hours that mattered.

There is also the matter of hull insurance. This is something to speak with a broker
about because. If you over-insure to cover the recent upgrades you will pay more
and could be at risk of the insurance company totaling the airplane if their book
value figure is less than the hull value. If there is a loan on the plane then the lender
is your partner and its unlikely it will be under-insured.

Sources for airplane insurance include insurance brokers and aviation organizations
such as AOPA, and the Experimental Aircraft Association. They dont actually
underwrite the insurance but they work with companies that do. Youll find plenty of
other resources from a search engine query for airplane insurance companies.

Hangar vs Tie-down. Youve got the financing. You got the insurance. You picked
up your airplane. Now its time to bring it home. In all likelihood, thats going to
mean hangar versus tied down. Hangar versus tie-down is not as easy as it
sounds. It really all boils down to money.

Hangar versus tie-down is not as easy as it sounds. Location matters.

In Long Island, New York, for example, the difference between a hangar and a tied
down can be $600 or $700 a month. Well, 12 times of 6 is 72. $7,200 a year can
cover the cost of a new paint job of a small airplane like a 172. You really have to
evaluate the situation depending on where you live.

The other factor is how often the airplane is flown. Youd probably be hard pressed
to find a flight school that hangars its airplanes every night regardless of what part
of the country its located in. Thats because airplanes that are flown frequently
stay healthier.
If you plan on flying your airplanes a few hours a week, then what youre really
looking at is routine maintenance for the internal systems and a paint job thats
going to deteriorate faster than if the airplane were hangared. On the other hand, if
youre not flying that frequently and youre parking it outside to save money, again,
depending on the situation in your area, that could come back to bite you in the
form of maintenance surprises.

The bottom line is hangaring an airplane is best for the airplane, but it might not be
whats best for the owner. It depends on where you live and the cost differential is
between a hangar and a tie down, and the usage pattern of the airplane.

Being verbally quote $600, I was handed a bill for $2,200 when I went to pick up the
airplane!

Maintenance. Now lets move on to aircraft maintenance, fertile ground for hangar
talk and where a happy ending is just one possibility.

If you own an airplane long enough or if you visit the aviation forums, youll learn
pretty quickly that aviation is a business and it has its share of honest, marginal and
fast-dealing people. Dont forget that fact when it comes to aircraft maintenance.

In fact, I recommend that you follow a process when dealing with maintenance that
protects all involved. Here it is. When you bring your bird to the shop or otherwise
hire a mechanic, follow these steps.

1. Get a written quote with the service items specifically identified.

2. Authorize specific repairs not to exceed a fixed monetary threshold.

For example, you could tell your mechanic, Okay. Go ahead and fix the widget.
But call me for authorization if youre going over $500. Believe me, the shop
doesnt want to do the work and have to fight you for the money. Conversely, when
you go to pick up your airplane, you dont want to be surprised by the bill.

I once had a situation where I noticed this smell of exhaust fumes just after I started
the engine. Worrying about carbon monoxide in the cockpit, I called the shop, had
them tow the plane over for an examination and assessment of what was going on.
They got back to me and said the exhaust system needed some work and it should
cost about $600 to fix.

When I went back to pick up the airplane, I was handed a bill for $2,200. I was
floored and pretty angry. Considered the options for both parties at that point. If I
were to refuse to pay, it would have ended up in court, a collection agency and the
shop could have put a mechanics lien on my airplane which would have prevented
me from selling it. An alternative would have been to take the shop to court which
is expensive and time-consuming. Its best to avoid either one of those possibilities
by having a specific dollar amount, having everything in writing and following a
process.

In that case, we were dealing with telephone authorizations. Nowadays, with the
prevalence of email and text messaging, Ive just found that its easy for both
parties to exchange emails to confirm the work. So following a process and having
it in writing protects everyone involved.

Number 2 [this should have been #3 in the podcast] is to verify the work. You can
do that by having a serial number entered right into the logbook of any parts that
are removed from the airplane and added to the airplane. Obviously this will be
limited to devices that have serial numbers and not bolts and washers. The other
option is to have the faulty part held aside for you. For example, if its something
like a starter with a core value, then have the shop hold it aside so that you can
visually see that part before its sent in for the core return.

You might think its ridiculous or even overdoing it. I have learned, however,
through personal experience that sometimes things that show up in the invoice
might not show up in the airplane.

The danger of doing the work while the airplane is being inspected is that you could
end up paying for maintenance activities on an airplane that doesnt pass the
annual.

Annual inspection. Now lets move on to the annual inspection. An annual

typically consists of checking the logbooks for AD compliance, removing inspection
plates to examine inside the fuselage and the wings, checking hoses, lines and
cables, removing the airplanes interior to inspect whats behind there, such as
plumbing, cabling and corrosion, checking the landing gear, checking the electrical
system, the ELT and upfront, checking the spark plugs and cylinder compression.

Notice how all of these things are inspection activities and not service activities like
lubricating the cables. You really want to stay away from intermingling work that
has to be done on the airplane to bring it into compliance with the inspection itself.
Nine times out of ten, there wont be any big surprises during the annual. The
person who does the inspection will also do the work on the plane.

The danger of doing the work while the airplane is being inspected is that you could
end up paying for maintenance activities on an airplane that doesnt pass the
annual. For example, the mechanic might decide to remove all the inspection
plates to start. He is looking inside the wings, spraying lubricant up in there, same
thing on the other wing, then at the back of the fuselage, finally gets to the front of
the airplane and discovers that there is a $12,000 engine problem.

When you get the bill, you will get a $1,500 charge for the annual inspection and
youll also get a charge for lubricating the airplane [that wont be going anywhere
anytime soon]. Thats just one example with the dollar figure of lubricating the
airplane. It probably isnt going to be that much. But I think you get the point.

If you keep the inspection of the airplane separate from the actual maintenance
activities, you give yourself the flexibility to respond to anything that comes up
thats unexpected. Bottom line, have the airplane inspected first then sit down with
your mechanic to discuss your options.

At some point during your ownership experience, you might want to attempt in
owner assisted annual. Ive done one on my airplane and the work consisted of
taking off all the inspection plates, removing the interior, taking off the wheel pants,
lubricating the airplane, touching up the paint and putting it all back together again
after the aircraft inspector check my work.

It was tedious work and I personally wouldnt do it again. But I did learn a lot about
my airplane. There is no better way to get an education about the systems of your
airplane than to take it apart then put it back together again. It did take longer than
it would have had I brought it to a shop, but on the flip side of that, I did save a few
bucks.

The typical cost of an annual inspection for Cessna 172 or a Piper Warrior class
airplane is $1,500 $2,500 for a plane with no major issues or ADs since the last
annual. That is based on a shop doing it.

Dont count on upgrades to increase the resale value of your airplane to a

significant degree.

Upgrades Lets now move on to adding things to your airplane. Earlier in the
podcast, I mentioned a dubious investment that I made with my plane. I originally
bought the plane for use as a flying club plane. It came with an ADF and Loran C.
Both of them functioned perfectly.

However I thought taking those out and replacing them with something more
modern would enhance the rental appeal of the airplane. So I had a Garmin 430W
installed. That was a significant expense that I intended to recruit from flying club
revenues. Long story short, the flying club didnt last. Then I owned a Piper Warrior
with a Garmin 430W in it which I had to pay for out of my own pocket. As it turned
out, I went and got my instrument rating in that airplane and obviously used the
430 as part of my training. It certainly makes the navigating a little bit easier days.

Had I not intended to put the airplane into a [revenue] service, I probably would
have just gone with something like a portable Garmin 396. I think youll find that
its pretty much the case with anything you do to your airplane. If you add an
Autogas STC or some speed mods, you might end up reducing the cost of ownership
through improved efficiency. But dont count on these things to increase the resale
value of your airplane to any significant degree.
Engine Overhaul. Our last topic today is going to be setting aside money to cover
the cost of an engine overhaul. Airplane engines come with a suggested service
life, for example, 2,000 hours, at which time the manufacturer recommends an
engine overhaul.

Now this is a pretty significant expense even on a small plane like mine. Youre
looking at upwards of $22,000. Aircraft owners approach this expenditure in a
couple of ways. One of them is to divide the cost of the overhaul by the time
remaining until the overhaul.

For example, if you get a brand new engine that costs $22,000 and the time
between the overhaul is 2,000 hours, 22,000 divided by 2,000 comes out as $11 an
hour to set aside to meet that expense when it comes due. This is typically done in
airplane partnerships so that both partners know that the money would in fact be
there when the bill comes due.

Another option is to decide how many hours youre going to fly the airplane then
sell it as it gets up towards TBO to avoid that expense altogether. For example, you
might purchase an airplane with 4 or 500 hours on the engine then decide to
operate it until the airplane has 1400 or 1500 hours on the engine then put it up for
sale.

Of course, the closer you get to TBO, the more that diminishes the sale price of the
airplane because the buyer understands that hes going to be responsible for the
full cost of an overhaul.

The third option is to just keep running the engine right past TBO. TBO is a
manufacturers suggestion; its not a legal requirement. If the engine is running
strong and the airplane owner/operator is confident in its ability to continue flying
safely, then its perfectly acceptable to run the engine past TBO.

Then we come full circle back to the beginning where I stated that we own an
airplane for the flexibility that it gives us to go where we want to go, when we want
to go and to equip it to our own personal taste and standards. There is no getting
around the fact that airplane ownership can be expensive but we can keep that
expense under control by following a process that protects all parties involved.

Now its your turn. Do you own a small airplane? Please share your experiences,
wisdom, and advice with us via a comment below.

Aviation jargon and abbreviations used in this episode/post

TBO Time Between Overhaul

AD Airworthiness Directive

Named Insured Pilots named (thus, covered) on an aircraft insurance policy

 AOPA Aircraft Owners & Pilots Association

Avemco An aviation insurance company

EAA Experimental Aircraft Association

172 The Cessna 172

TYPES OF AIRCRAFT INSURANCE

These 10 types of policies would give you an overview of the aviation insurance
policies offered by the Indian insurance companies.

In the current scene, there are a number of aviation policies that are making their
presence felt with interesting features, feasible cover plans, and a lot more. Take a
look at the various kinds of aviation policies that are in the reckoning in India.

1. Aircraft Policy related to Flight and Ground Risk

This policy cover is taken to replace or repair accidental loss or damage caused to
an aircraft; along with other things, it covers the standard parts that were
temporarily detached during the flight of the aircraft. This policy also covers third
parties and the legal liability of passengers.

2. Aircraft Hull Policy Comprehensive

This policy is aimed at covering the loss or damage caused to an aircraft while its in-
flight or taxing on the ground. It also covers the liability to third parties and
passengers.

3. Aircraft Hull War Risks Policy

This policy covers indemnity for loss or damage to the aircraft caused due to war or
any other act of foreign enemies and strikes, riots, or worker disturbances. The
policy also provides cover for the accidental or deliberate losses incurred due to
political or terrorist acts; as well as any acts of sabotage.

4. Aviation Personal Accident Policy (Crew)

This is basically a group personal accident insurance policy that is provided to

operators in the airline industry for offering benefits to crew members in case of any
injury caused due to accident.

5. Breach of Warranty Insurance

Due to the breach of any policys warranty, or in case the claim is not granted to the
insured, the outstanding loan amount at that time will be reimbursed to the
financer. This is somewhat similar to the Agreed Bank Clause of property insurance.

6. Confiscation Endorsement

This aviation insurance policy is aimed at covering the loss or damage caused to an
aircraft as a result of confiscation, seizure, nationalization, and so on. These events
have to be as per the order of the government, public authorities, or local
authorities.

7. Hijacking Endorsement

This insurance is aimed at covering up any loss or damage caused to the aircraft as
a result of hijacking, illegal seizure, or unfair exercise of the crew or any individual
on board the aircraft during flight

8. Loss of License Insurance

The crew members operating in the aircraft are required to possess a valid
professional license issued by the government that allows their work. The license
can be suspended both permanently as well as temporarily on the basis of laid-
down medical grounds. The resulting financial loss is covered up by this policy.

9. Product Legal liability Insurance Policy

This policy is affected by a manufacturer of aircraft parts, or a repairer that takes

care of the risk resulting due to faulty design or imperfect repairing. The maker or
the repairer is indemnified with all the sums that he might have to pay because of
defective manufacturing.

10. Random Indemnity Cover

This insurance includes indemnity to the insured up to 60% of compensation that he

might have to pay as a result of threats to the insured aircraft. The remaining 40%
stays uninsured at the insurers risk.

Go ahead; insure your aircraft with any or all of these above mentioned aviation
insurance policies to protect yourself from any danger of loss or damage.
 INTRODUCTION
The development of the flying car is one of the latest innovations in aviation.[ 1]
The Massachusetts based company Terrafugia,[ 2] has produced and received
Federal Aviation Administration (FAA) approval for the "Transition"[ 3] as a light
sport aircraft (LSA).[ 4] The Transition is a two-seat vehicle with retractable, fixed
wings that may be driven as an automobile.[ 5] Its wings fold down in a matter of
seconds when ready to fly as an airplane. The Transition's engine runs on high-
octane premium automobile gasoline, powering the automobile's drive train and
the aircraft's propeller. The Transition Production Prototype completed its first flight
on March 23, 2012.[ 6] First customer delivery of a Transition Roadable Aircraft is
expected to occur in late 2012.[ 7] The versatility of the Transition makes it a
practical option for those who desire the ability to drive to the airport and fly away
in the same vehicle. Insurance policies covering this vehicle, however, may not be
as accommodating.

Indeed, the Transition's entry on to the roadways, the skies, and into
the insurance market undoubtedly will present coverage issues in the event of a
loss. The first issue is whether the Transition requires both an
aviation insurance policy and an automobile policy. The manufacturer has yet to
take a position on what type or types of insurance policies will be needed. Further,
underwriters may encounter difficulties in defining the vehicle, assessing its risk,
and determining when coverage under its policy ends and some other policy begins.

In comparison with automobile insurance law, relatively few attorneys and courts
have experience with aviation insurance law. Reconciling
automobile insurance policies with aircraft policies poses challenges for those
who purchase this multipurpose vehicle. However, while aviation policies differ from
the standard automobile policies, some courts have mirrored the application of case
law from automobile policies when considering comparable
aviation insurance policies.[ 8] Legal issues that apply to
automobile insurance may be analogous to those of aircrafts, and courts
occasionally use those analogies to make rulings based on novel issues of
aviation insurance law.[ 9]

In the event of a plane crash, aviation insurers, much like automobile insurers, must
determine whether the loss is covered by the policy. No law currently governs the
operation of a flying car, which may be alternatively viewed as a drivable aircraft.
Reconciling the two bodies of law that apply to automobiles and aircraft certainly
may be seamless.

The complexity of this vehicle will present complex insurance issues. An issue
presented by the Transition's entry into the aviation and insurance markets is
whether it will require both an automobile policy and an aviation policy. Once it is
determined what policy or policies will be needed or may apply,
an insurance company still must be willing to underwrite those risks. Damage
during use as an automobile could significantly impact the Transition's risk of later
loss and insurability under an aviation policy. An insurance company could refuse
to issue an aviation policy on an aircraft that has been involved in an automobile
accident due to concerns of structural integrity or flight worthiness.

To fully understand the implications associated with insuring and operating a flying
car, it is imperative to first grasp the basic concepts of aviation insurance and
automobile insurance. In this article, I explore the possibilities and conflicts of
properly insuring a vehicle as ambiguous as its potential insurance policy. First, I
describe aviation insurance, its history, its principles, and the typical functions of
insuring an aircraft, and examine automobile insurance and its typical functions.
Second, I analyze possible options for insuring a flying car and for
reconciling aircraft policies with automobile policies to reduce insurance overlap,
clarify ambiguity, and ensure sufficient coverage. Finally, I will address potential
conflicts associated with insuring the Transition and possible resolutions.

II. AVIATION INSURANCE

On December 17, 1903, the Wright brothers completed their first successful flight at
Kitty Hawk, North Carolina.[ 10] Since then, the aviation industry has grown rapidly
and the insurance industry has followed closely behind.[ 11]

A. Origin of Aviation Insurance

The first aviation insurance policy was written by Lloyd's of London in 1911.[ 12]
The company stopped writing aviation policies in 1912 after bad weather and the
resulting crashes at an air meet caused losses on many of those first policies.[ 13]
After World War I, civilian air transportation and the aviation insurance market
began in the United States.[ 14] Today, there are several different kinds of aviation
insurers.[ 15] By far, the largest share of the domestic aviation market is handled by
the two largest of the multi-company aviation pools, the United
States Aircraft Insurance Group (USAIG) and Associated Aviation Underwriters
(AAU).[ 16]

B. Aviation Coverage and Underwriting

Several forms of coverage are available for aircraft, divisible into two general
categories: liability insurance and hull insurance.[ 17]

1. LIABILITY INSURANCE
Liability insurance covers the cost arising from the liability of the insured to pay for
damage or injury to third parties.[ 18] Liability insurance is sometimes written on
an occurrence basis.[ 19] Aviation liability coverage is available in three categories:
public liability insurance, passenger liability insurance, and combined single limit
(CSL) insurance.[ 20]

Public liability insurance often refers to third party liability. It covers damage that
an aircraft does to third party property, such as houses, cars, crops, airport
facilities, and other aircraft struck in a collision.[ 21] It does not provide coverage
for damage to the insured aircraft or coverage for passengers injured on the
insured aircraft.[ 22]

Passenger liability insurance covers passengers riding in the accident aircraft who
are injured or killed.[ 23] Coverage is often sold on a per-seat basis with a specified
limit for each passenger seat.[ 24]

CSL coverage combines public liability and passenger liability coverage into a single
coverage with a single overall limit per accident.[ 25]This coverage provides more
flexibility in paying claims for liability, especially if passengers are injured but little
damage is done to third party property.[ 26]

At the request of an insured, coverage may be extended to include voluntary

settlement, known as admitted liability.[ 27] This coverage sets forth a limit of
liability on each passenger seat, including the pilot's seat.[ 28] In the event of the
passenger's injury or death, the policy pays up to the limits provided by the
endorsement without proving negligence on the part of the insured.[ 29] Essentially,
this coverage is personal accident coverage on each of the passenger seats. The
passenger riding in an insured seat is to be covered without regard to legal liability.
[ 30]

2. HULL INSURANCE
Hull insurance covers the aircraft, including the engine, propeller, and all other
systems permanently attached to the aircraft, such as avionics.[ 31]Standard form
aviation hull coverage is typically written to cover risks arising out of particular
modes of operation -- that is, risks taking place while the aircraft is in flight,
taxiing, or on the ground or moored.[ 32] Aircraft hull is derived from the marine
term "hull,"[ 33] since many of the first aviation insurance policies were issued by
marine underwriters.[ 34] Hull insurance is available in four categories: ground risk
hull insurance not-in-motion; ground risk hull insurance in-motion; in-
flight insurance; and all risk insurance.[ 35]

Ground risk hull insurance not-in-motion policies provide coverage for the
insured aircraft against damage when it is on the ground and not in motion.[ 36]
This policy covers the insured aircraft for losses such as fire, theft, vandalism,
flood, mudslides, animal, wind, hailstorms, hangar collapse, or accidents caused by
uninsured vehicles or aircraft striking the aircraft.[ 37] The policy excludes
defects or failure of any part of the aircraft engines or components unless loss of
or damage to the aircraft results in the defects or failure.[ 38] Also, hull policies
typically include conditions that the insured must fulfill as conditions precedent to
the liability of the insurers.[ 39]

Ground risk hull insurance in-motion (taxiing) coverage is similar to ground risk
hull insurance not-in-motion, but provides coverage while the aircraft is taxiing
(but not while taking off or landing).[ 40] Normally this coverage ceases at the start
of the take-off roll and is in force only once the aircraft has completed its
subsequent landing.[ 41]

In-flight insurance coverage protects an insured aircraft against damage during

all phases of flight and ground operation, including while parked or stored.[ 42] "In-
flight" means the period from the time the aircraft moves forward in taking off or in
attempting to take off for air transit, while in the air, and until
the aircraft completes its landing and landing run after contact with the land or
water.[ 43] It is understandable that in-flight insurance is more expensive than not-
in-motion coverage since most aircraft are damaged while in motion.[ 44]

All-risk coverage automatically includes all perils that it does not specifically
exclude.[ 45] Most aviation all-risk hull policies include: ( 1) all risk while not in
motion; (2) all risk except while in flight (including taxiing); and ( 3) all risk ground
coverage extended to include all risk while in flight.[ 46]

C. Surveys

When loss or damage occurs to an insured aircraft, the insurer appoints

"aircraft surveyors to inspect the hull and report on the circumstances of the
accident. In so reporting, surveyors indicate whether the provisions of the policy,
including warranties and conditions, have been complied with and whether the loss
or damage falls within any exclusion in the policy."[ 47] Whether the aircraft is a
total loss or constructive total loss is also determined by the surveyors.[ 48] In the
case of a partial loss, surveyors indicate "the extent of the damage together with
the estimated cost of repair and the most satisfactory way of carrying out such
repair."[ 49]

D. Rate Making

Insurance companies determine aircraft hull and liability premiums by conducting

a rating process.[ 50] This process involves first applying the
particular aircraft base rate, then applying risk modifiers and coverage modifiers to
derive the final total premium for the aircraft.[ 51] The base rates are determined
by the type of aircraft. The type of aircraft may be defined under one of three
general categories: piston; turbine; and rotorwing.[ 52]

Piston aircraft have one or more piston-powered engines connected to the

propeller(s), which provide thrust to move the aircraft on the ground and through
the air.[53] Turbine engine aircraft may have either a jet engine or a turboprop
engine that utilizes a propeller.[ 54] Rotorwing aircraft, such as helicopters,
generate lift by wings, called rotor blades that revolve around a mast.[ 55]
Rotorwing aircraft may have either a piston engine or a turbine engine.[ 56]

Within these categories, the aircraft may further be divided into sections by
number of engines and gear. An aircraft may be single or multi-engine fixed
tricycle gear, retractable gear, or fixed conventional gear.[ 57]Once the aircraft is
established in one of these categories, unique characteristics of the
particular aircraft are considered, such as: age; construction/materials;
performance characteristics; reparability; loss history; track record; manufacturer
support; size/gross weight; systems (i.e., pressurization or turbochargers); and
avionics/advanced equipment.[ 58]

After determination of the base rate, risk modifiers are assessed. The risk modifiers
include: pilot experience (i.e., ratings, certificates, total hours of flight, and pilot
training performed); pilot loss history; pilot FAA violations; pilot driving record or
other relevant criminal record; number of pilots operating the aircraft; account loss
history; base airport (runway surface type, width, length, elevation, surrounding
terrain, and surrounding airspace); aircraft modifications (i.e., engine, gear,
airframe, and avionics/equipment); uses other than "pleasure and business"
(commercial purposes, dry leases, aero photography, aerial survey/patrol, aerobatic
competition); and ground not-in-motion only and ground not-in-flight only.[ 59]
These rate modifiers apply separately to hull and liability coverage.[ 60]

These procedures provide a general scheme for how insurers may determine what
premium to charge for a particular aircraft. The hull or liability policy itself
generally contains declarations, definitions, insuring agreement, exclusions, and
exceptions not found in automotive policies.
AIRCRAFT POLICY
Aircraft (Flight & Ground Risks) Policy :

The cover provided by the policy is to replace or make good accidental loss of or
damage to the aircraft including standard components parts thereof, temporarily
detached in connection with overhaul or repair while in the custody or control of
the insured (unless other similar component parts have been substituted) from
whatsoever cause arising whill the aircraft is in Flight and/or Taxying and/or on the
Ground and/or Moored. The policy also covers legal liability to third parties (other
than passengers), and also legal liability to passengers.

Aircraft Hull Policy Comprehensive :

The policy covers loss of or damage to the aircraft while the aircraft is in flight,
taxying, on the ground or moored, liability towards third parties, and passengers
liability.

Aircraft Hull War Risks Policy :

The cover provides for indemnity for loss of or damage to aircraft caused by (a) War,
invasion, acts of foreign enemies, hostilities, civil war, rebellion, revolution,
insurrection, martial law, military or usurped power or attempts at usurpation of
power, (b) strikes, riots, civil commotions or labour disturbances, (c) acts of persons
for political or terrorist purposes resulting in loss whether accidental or intentional,
and (d) any malicious act or act of sabotage.

Aviation Personal Accident Policy (Crew) :

This is a group personal accident insurance granted to the Airline Operators

providing for specified benefits payable in the event of accidental bodily injury to
members of the crew. The airline operator is the insured under the policy and
the members of the crew are designated as insured persons. The insured
i.e., the airline operator, has the sole and exclusive rights of receiving any payment
or of enforcing any claim under the policy. The capital sums insured vary
according to the status of the insured personnel.

Breach of Warranty Insurance :

This insurance provides that, if a claim is not payable to the insured by reason of a
breach of any warranty of the policy on his part, the financer will be reimbursed to
the extent of the loan outstanding at that time. This is very similar to the Agreed
Bank Clause in property insurance.

Confiscation Endorsement :
This insurance is extended to include loss of or damage to the aircraft directly
caused by confiscation, nationalization, seizure, restraint detention, appropriation,
requisition for title or use under the order of the Government (whether civil, Military
or de facto) and/or Public or Local Authority of the country and/or within the
Geographical Area. However, such loss or damage due to the orders of the
Government of India or any Public or Local Authority of India is excluded.

Hijacking Endorsement :

This insurance is extended to include loss of or damage to the aircraft due to

hijacking or any unlawful seizure or wrongful exercise of control of the aircraft or
crew in flight by any person of persons on board the aircraft.

Loss of Licence Insurance :

The operating crew of the aircraft are required by law to have valid professional
license from the Government to work in their occupation. This license is granted
after satisfactory medical examination. Renewal of the License is also subject to
similar requirements. This license is liable to be suspended either temporarily or
permanently on medical grounds. The consequent financial loss is covered by
the loss of license policy.

Loss of Use Insurance Policy :

This cover is effected by the air operator to protect himself against loss of revenue
arising from an aircraft being laid up for repairs due to accident. This policy
indemnifies the insured for the loss of his revenue in cases of partial losses only and
not in case of total loss.

Product Legal Liability Insurance Policy :

This insurance is effected by an aircraft manufacturer or a repairer to protect

himself from risks that result from the faulty design of the aircraft or those due to
defective repair work. The policy indemnifies the manufacturer or repairer all
sums that he might be liable to pay as a consequence of defective workmanship or
manufacture.

Ransom Indemnity Cover :

This policy includes, without any additional premium, indemnity to the insured to
the extent of 60% of any payment that the insured may be constrained to make due
to threats against the insured aircraft. The balance 40% is uninsured and is at the
insureds risk.

Satellite Insurance :

This covers comprehensive insurance as under :

1. Pre-launch Insurance : This covers transportation of the satellite from the
manufacturer or place of storage to the launch site, the storage of satellite at
the launch site and the preparations leading up to the launch itself including
the compling of the satellite with the launch vehicle.

2. Launch Insurance : This covers the satellite and the launch vehicle from the
moment of launch attempt to the successful injection of the satellite into its
orbit including, as applicable, the satellite having sufficient fuel and power to
operate for its designated life.

3. Satellite Life Insurance : This covers the satellite for its initial 36 months
of operation including failure of the power and/or fuel systems and in case of
communication satellite, the breakdown of transponders according to the
applicable definition of failure.

4. Third Party Legal Liability Insurance : This covers the satellite owner for
his legal liability to third parties arising out of the launch and pre-launch
activities and the satellites activity once it is in orbit.

5. Losses to Lessees of Transponders : Recently a new type of coverage has

been granted for lessees of transponders who are protected against loss of
revenue resulting from a catastrophic loss or a loss occurring to the
transponder itself.
Aviation Insurance: Issues and Challenges
March 15, 2015researchersclub

Introduction:
Aviation insurance is insurance coverage geared specifically to the operation of
aircraft and the risks involved in aviation. Aviation insurance policies are distinctly
different from those for other areas of transportation and tend to incorporate
aviation terminology, as well as terminology, limits and clauses specific to aviation
insurance.[1]

Aviation insurance has come to acquire an increasingly broad scope, and is

sometimes referred to in modern times by the wider term Aerospace insurance.
[2] This is because of the presence of insurance policies that cover a wide range,
from privately-owned ultra lights to entire airline jet fleets, from maintenance shops
to airframe and engine manufacturers, from small general aviation airfields to major
airports, and from micro-satellites to commercial space launchers. [3]

The History of Aviation

Aviation insurance was first introduced in the early years of the 20th Century.[4] The
first aviation insurance policy was written by Lloyds of London in 1911. [5]The
company stopped writing aviation policies in 1912 after bad weather and the
resulting crashes at an air meet caused losses on many of those first policies. The
first aviation polices were underwritten by the marine insurance underwriting
community. The first specialist aviation insurers emerged in 1924.[6]

In 1929 the Warsaw Convention was signed. The convention was an agreement to
establish terms, conditions and limitations of liability for carriage by air, this was the
first recognition of the airline industry as we know it today[7]. In 1931, Captain
Lamplugh, the British Aviation Insurance Companys chief underwriter and principal
surveyor, said of the new industry:[8] Aviation in itself is not inherently dangerous.
But to an even greater degree than the sea, it is terribly unforgiving of any
carelessness, incapacity or neglect.[9]
Realizing that there should be a specialist industry sector, the International Union of
Marine Insurance (IUMI) first set up an aviation committee and later in 1933 created
the International Union of Aviation Insurers (IUAI), made up of eight European
aviation insurance companies and pools.[10]

The London insurance market is still the largest single Centre for aviation
insurance. [11]The market is made up of the traditional Lloyds of London
syndicates and numerous other traditional insurance markets. Throughout the rest
of the world there are national markets established in various countries, this is
dependent on the aviation activity within each country, the US has a large
percentage of the worlds general aviation fleet and has a large established market.
[12]

No single insurer has the resources to retain a risk the size of a major airline, or
even a substantial proportion of such a risk. [13]The catastrophic nature of aviation
insurance can be measured in the number of losses that have cost insurers
hundreds of millions of dollars. Most airlines arrange fleet policies to cover all
aircraft they own or operate.[14]
Claims Scenario in India
Each Insurer will have its own underwriting experience to show and can vary
from its peers considerably depending on their participation on the policies that has
produced losses. General Aviation claims in 2008 are expected to exceed Rs. 500
million and 2009 has started on a bad note with claims in first five months
exceeding Rs.350 million. As against this, past 10 years average general aviation
losses are hovering around Rs.400 million. When we compare these claim figures
against the total general aviation premium in India, one may come to a conclusion
from the insurers perspective that general aviation is profitable over the last 10
years period. This may not be true for all insurers, especially considering the fact
that 10 years average loss figure consists of two or three major losses in each year.
Insurers participating on these losses would have been hit hard. Majority of the
losses in the last 10 years are on account of aircraft damages and liability claims
forma a very small portion of it. However, by no means does this give any indication
into the future considering the catastrophic nature of aviation business. The Airline
segment in India over the last 10 years has been relatively stable. However, the
claims experience varies from airline to airline and one of the disturbing trends in
India is bird hit losses in the recent past.[45]

Aviation Insurance Industry in India

Indian Insurers have come a long way in developing the market capacity for
aviation insurance business and as Indias growth story continues, Insurers have
kept pace with the growing demand from buyers in India. Today the Indian market is
playing a key role in supporting not only buyers in India but also buyers in the sub-
continent, including major support to the SAARC region. [46]
As the Indian aviation industry continues to grow, many new buyers have entered
the insurance market with requirement for different types of products. Apart from
traditional airline and aircraft related insurances, Insurers are now covering different
verticals of aviation industry ranging from airports to aircraft manufacturers with
bigger risks appetite. [47]The past few years have seen heightened level of
competition amongst both Public and Private Sector Insurance Companies in an
attempt to retain the current market share and to fulfill an ever increasing desire to
participate in the aviation growth story. [48]

This is more so in the General Aviation (generally aircraft with less than 61 seats)
segment where the sum insured limits are within the capacities of many Indian
Insurers. General Aviation buyers in India have enjoyed substantially lower premium
payouts compared to their world and regional peers, as buyers have bargained hard
taking advantage of the soft market conditions and excess market capacity. In the
process, quite a few buyers have switched their insurers.[49]

On the Airline front, pricing continues to be driven by leading international markets

especially in London, as Indian Insurers continue to off load major risks to
international companies mainly in the European sub continent, with insurance
brokers playing a very important role in the entire process.

Aviation Insurance in India: Laws and Regulations

The Indian Government ratified Montreal Convention 1999 in March 2009 and
currently it applies to international travel. There is nothing on record at this stage to
show that the revised liability limits are applicable to domestic sectors. In brief, the
Convention has increased compensation levels for international passengers in the
event of death or bodily injury and damage and delay to the passenger baggage
and cargo. While the compensation for death or bodily injury has increased almost 7
times from the existing levels of approximately USD 20,000 to around USD 140,000,
the compensation for damage to the checked baggage has increased from
approximately USD 20 per kg to around USD 1,400 per passenger.

The compensation for damage to cargo has increased from USD 20 per kg
approximately to USD 24 per kg. The Warsaw System, which is in force in India by
way of Carriage by Air Act, 1972(amended in 2009) had allowed four choices of
jurisdiction for filing of a claim by the passenger, namely, place of issue of ticket,
principle place of business of the carrier, the place of destination of the passenger
and the place of domicile of the carrier.

Before the boom in the Indian aviation sector, the airline insurance market was
dominated by the four state-owned general insurance companies: New India
Assurance Company, Oriental Insurance Company, National Insurance Company and
United India. However, with the growth in the Indian aviation story, private players
like ICICI Lombard, Bajaj Allianz, Iffco Tokyo General Insurance and Reliance General
Insurance Company are also trying to muscle their way into this lucrative sector.

The unprecedented growth in this sector is also seeing private players join hands
with each other to bid for accounts. The latest such case is the ICICI Lombard-Bajaj
Allianz tie-up where they are jointly bidding for Air Indias Insurance account which
includes providing cover for 50 planes valued over $3 billion.

In India, this segment is highly reinsurance-driven. A majority of the players have

re-insured the value of risk covered with foreign companies. Take the case of Air
India where almost 90% of the risk is insured overseas through reinsurance
arrangements, while the remaining cover rests domestically. Indian insurance
companies do not have the financial muscle to address claims of airlines and
generally go in for reinsurance which means sharing the risk of loss with another
insurance company. The role of a reinsurer is important in the Indian context as
most of the companies do not have the requisite experience of handling a market of
this size.

Out of the eight private players, Bajaj Allianz General Insurance Company and
ICICI Lombard General Insurance Company Limited are most active in this segment.
Although there are no official estimates, industry players put a ballpark figure of the
Indian aviation insurance market at somewhere around Rs 400 cr to Rs500 cr. With
new aircraft being bought by new players entering the sky and the existing one in
expansion mode, this segment will only grow. [50]

According to Ernst & Young, a global consultancy firm, Indian skies would have
over 700 aircraft from 235 currently by 2012, an increase of almost200%. The
numbers speak for the potential of this segment in the market, which is one of the
fastest growing in the world. The total premium figures for aviation insurance in
India for 2006-07 stood at Rs 417.29 cr. typically, the premium depends upon
underwriting factors such as age of the aircraft, experiences of the pilot flying the
aircraft, make and model and use of the aircraft. It is generally 1% to 3% of the
aircraft value.

The aviation insurance market is looking up and is currently at Rs 350 crore.

But with new aircraft being bought by new players entering the business and the
existing one on an expansion mode, the aviation market is set to take off.[51]

Through the Montreal Convention a fifth jurisdiction is added which is

the place of domicile of the passenger, provided the airline has a presence
there. Therefore an Indian would be able to file claim in India even if the journey
was undertaken outside India. Liability Limit for domestic passengers in the event of
death or bodily injury continues to be at the old level of Rs.750,000 for passengers
above 12 years of age and Rs.350,000 for below 12 years.
 As regards damage and delay to the passenger, baggage compensation is
Rs.4,000 per passenger for hand baggage and Rs.450 per kg for registered
baggage. So far, Insurers have responded very positively by covering their
customers based on the revised limits for international travel and it remains to be
seen whether new limits will be applicable for domestic travel as well and its impact
on the liability claims scenario.

Western European countries including countries in the Far East namely Hong
Kong, Singapore have adopted regulations specifying minimum liability insurance
limits for aircraft based on the maximum takeoff weight of the aircraft and
passenger seating capacity, however India is yet to adopt any such regulations.
Even neighboring countries like Sri Lanka and Nepal have minimum liability
insurance requirements for aircraft and it may not be too long before India adopts
such requirements. While Airlines and Corporate Jet owners are buying liability limits
in line with the international trend, there is no similar trend when it comes to
helicopter operators. Like Airline policies, liability limits on Corporate Jets many
times are driven by financing /purchase agreements; however helicopter operators
tend to buy low limits.

Aviation Insurance in India: Latest Data and Trends

Aviation direct premium income in India is circa INR 3,750 million and this
includes buyers from all segments including airlines, general aviation, aerospace,
airports, ground handlers, catering companies etc but excluding satellite. Over 75%
of the total premium comes from the airline segment with another 23% from
General Aviation.[52] A very small portion of 2% is contributed by airport, ground
handlers, catering segment etc. In addition, National Reinsurer, GIC Re writes
substantial international aviation business (mainly by way of inward reinsurance)
coming into the country and gradually other insurers are following suit, but with
caution.[53]

Over the last 10 years GIC Re has emerged as one of the largest aviation
reinsurer in the international market and is playing a key role in supporting Indian
Insurers. Currently there are over 200 buyers of aviation insurances in the country
who need aviation products in one form or other. Many new buyers have entered
the market in 2008-09 and the trend is expected to continue in 2010-11 albeit at a
slow pace.[54] For the airline sector, customer base and number of aircrafts has
increased significantly in the past three years but current economic situation is
taking a toll on its future growth. [55]

When one compares the overall aviation premium compared to total non-life
premium in India, it forms a very small portion of less than 2% of total Non-Life
premium income, however winning or retaining an aviation client has always made
big headlines and the glamour attached to aviation industry is keeping Insurers
competing stronger day-by-day even at the cost of a shrinking premium base. [56]

Collectively, the Indian market has capacity to insure General Aviation aircraft
valued around USD 50m and Liability limit around USD 275m. Capacity for airlines is
very similar, but reduced to some extent with limitations of percentage share
restrictions when it comes to aircraft with seating capacity in excess of 61
passenger seats.[57]

The situation with regard to claims, however, is more important. Each Insurer
will have its own underwriting experience to show and can vary from its peers
considerably depending on their participation on the policies that has produced
losses. General Aviation claims in 2008-09 are expected to exceed Rs. 500 million
and this year has started on a bad note with claims in first five months
exceeding Rs.350 million. [58]

As against this, past 10 years average general aviation losses are hovering
around Rs.400 million. When we compare these claim figures against the total
general aviation premium in India, one may come to a conclusion from the insurers
perspective that general aviation is profitable over the last 10 years period. This
may not be true for all insurers, especially considering the fact that 10 years
average loss figure consists of two or three major losses in each year.

Insurers participating on these losses would have been hit hard. Majority of the
losses in the last 10 years are on account of aircraft damages and liability claims
forma a very small portion of it. However, by no means does this give any indication
into the future considering the catastrophic nature of aviation business. [59]The
Airline segment in India over the last 10 years has been relatively stable. However,
the claims experience varies from airline to airline and one of the disturbing trends
in India is bird hit losses in the recent past.

BIBLIOGRAPHY

Books
1. Dr. V.Balakista Reddy, Emerging Trends In Air And
Space Law: Proceedings Of International Conference
Held In NALSAR University Of Law, Hyderabad, India,
Uppal Pub. House, 2007
2. Ren H. Mankiewicz, The liability regime of the
international air carrier, Kluwer,
3. Jeffery Delmon, PROJECT FINANCE, BOT PROJECTS
AND RISK, 1st ed. 2005, Kluwer law international.
4. Pierre Guislian, THE PRIVATIZATION CHALLENGE,
1st ed. 1997, The World Bank publications.
5. Anupam Rastogi, THE INFRASTRUCTURE SECTOR IN
INDIA, 1st ed. 2006, Oxford university press