The Primary Key to Minimizing Your Premium: Detailed Information
Insurance renewal time can be hard to get excited about. Whether it’s your standard auto or homeowner’s insurance, life insurance, or even aircraft insurance, people generally dread the process, because it means they have a bill coming due that they hate to pay. However, they know it’s a bill they must pay, so they exert minimal effort to ensure it gets done and then put it out of mind.
Instead of taking a negative or minimalist approach, take the proactive and conquering approach. Here’s what I mean: rather than just doing what’s necessary to renew the policy, take a few minutes to mention all the relevant and key data you think might help your case.
Did you attend safety seminars? Have you taken Wings courses? Did you get your IFR rating? Does your aircraft have autopilot or a moving map? Did you do anything outside of basic requirements to further your training or learning? Did you upgrade your avionics? Are you a member of any associations? These are just a handful of the things that, if known by underwriters, can reduce your premium. The more information the better.
If you think there’s a chance it may help your cause, take the time to include it so it’s known. You already despise paying your insurance premiums, so why not do everything you can to bottom them out? The extra five minutes of thought could save you good money, and after all, it only comes around once a year!