Mid-Year Policy Check-Up
With the world slowing down significantly for most, now as good of a time as any to check on items that wouldn’t normally cross your mind. One of those items should be a review of ALL of your insurances. Most people rarely take the time to read what they have and as a result, may be paying for coverage they don’t need, or worse, finding out something isn’t covered that they need to be covered. Either way, whether it’s your flight physical, a dental visit, or maybe even an oil change, there are certain annual responsibilities that we simply don’t look forward to as much as others. Nonetheless, that lack of excitement shouldn’t discount their importance.
Routine maintenance is a critical part of our everyday lives whether we’re talking about our aircraft, our homes, or even our bodies, and insurance also needs regular attention. It’s worth taking a step back every so often to think about the state of your aircraft and your operation. Take inventory of the last year or two and ask yourself –– has anything changed with my company? Do I offer more services? Has my aircraft value changed? Have I added any pilots lately? Am I planning a trip outside the USA? The answers to these questions may change throughout a policy year, especially with commercial operators.
In the pursuit of business growth, you must ensure your insurance policy is keeping pace with the evolution of your operation. The policy you bound six or eight months ago may not fully cover what you’re doing now, so it’s always best to take inventory of what may have changed since then. If you have any doubts or questions, by all means, please give us a call.