Shopping The Aviation Insurance Market

So you have an aircraft and you are thinking either I need insurance for my airplane or you are thinking maybe it is time to re-shop the market to determine if the aviation insurance you currently have is the best fit for your needs at the most cost effective rate.

So when you have decided to take the leap and research what it is going to cost to cover your airplane, helicopter or other aviation assets your next question will likely be where do I go? And, who can I trust to provide an accurate assessment of the aircraft insurance market?

The first question is answered by finding an agent that you can trust that specializes in your particular market. Not all agents are the same and not all have access to the kind of resources necessary to get you the best quote. In fact, many agents will sell you on cost alone. Sure a low premium is great UNTIL that accident where you find out your liabilities exceed your coverage limits. BAD INSURANCE coverage really is not a deal at all if it does not truly meet your needs.

The second question is much easier to answer. Chappell Smith & Associates (CS&A) has specialized in aviation insurance for decades. In fact, the principal owner Tom Chappell is known as one of if not the foremost pioneer in the aviation insurance business.

Having a long and robust history is one of the factors that helps ensure that you are dealing with an agency that has both the knowledge and resources to get you the BEST insurance for your aircraft at the best rates for your needs.

How do you know CS&A has your best interest in mind? Easy, we work with a miriad of providers each based on the specializations they focus on. This means we do not shop your insurance to providers who we know will not adequately cover your insurance needs. Next, based on your specialized needs we work to develop a package that ensures your coverage is really there when it is really needed. After all, what is the purpose of buying insurance if you really are not protected in the first place?

When shopping for aircraft insurance the market is not the same as other general insurance products. It is easy to fall into the trap of wanting to constantly re-shop to try to better your rate. Sounds reasonable on the surface. What you need to know though is that every time your application is submitted is that it is logged. Why does this matter? From the insurers perspective this means you have no loyalty to them and thus they will often mirror that lack of enthusiasm back in their quotes. This goes for both cost and coverage. Because the market is finite and with each insurer limiting themselves to certain niches this means you can actually find a situation where you research yourself out of the market all together.

Often times when an insurer sees you as loyal not only will they work to provide the best rates possible but they are also more willing to make exceptions or provide needed variances to properly cover bot h you and your aircraft.

Yes, it is natural to be concerned about your insurance rates. It is easy to have doubt when your buddy tells you he got a great rate and that rate is lower than yours. It is important to realize all insurance is unique to its owner. Does your buddy have the same flying history? Have they had fewer claims? Is it the same model aircraft? What is their health, age, education etc.? As you can see even with the few mentioned variables you and your buddy are not the same.

So, if the question is where can I find insurance for my airplane you owe it to yourself to work with a company that has since its inception been the leader in finding the highest quality aviation coverage at the best possible rates. This is not a decision to be taken lightly. Why put yourself at risk or waste your time entertaining ineffective coverage?

Contact us today and one of our highly experienced agents will be happy to listen to your needs and act on your behalf to help you get the right coverage at the right price.

You can reach us through our contact form here or by phone toll free at: (800) 999-1109.

shopping aviation insurance

Author: CS&A Staff

Editor: Lewis Austin