More Information Is Now Requested to Get Aircraft Insurance Quotes

If you’ve been through a new purchase or renewal recently, you may feel that you are being asked to provide more information from the pilot(s) and operation(s) than in the past. It’s not your imagination, it is reality. In years past, you may have gotten by with providing some basic PIC hours and whether you are part 91 or 135, along with the aircraft and hull value; now that information will not even prompt a response from some carriers. To get the most competitive quotes with the best terms, carriers want to know more about who and what they are insuring.

To get the best outcomes and most competitive offers, in addition to the basic data that is requested, be prepared with the following information that may apply. Depending on the operation, pilot experience, and use of the aircraft, there may even be a request for additional explanations/data.

• Named insured — This seems obvious but be sure to include who the aircraft is/will be registered to along with any affiliated businesses or lenders that may need to be listed as additional insureds.
• Address of named insured
• What is the business of the named insured, and in what capacity is the aircraft used for this business? (This wouldn’t apply if it’s a personal name.) Are you a marketing company that needs to travel to clients? Are you providing services to other businesses? Do you just use the aircraft for you and your family/friends? The more information here the better. The carriers want to know all who are involved in flight exposure.
• Owner-flown or pro pilots?
• Primary areas of travel — Is there any international exposure? If so, what percentage?
• Estimated annual hours flown
• Average passenger load
• Are there any leasing arrangements? Dry lease or wet lease?
• Are there specific liability limits that need to be met for contractual obligations?
• Of course, always provide any loss history.

This is not an all-inclusive list of the additional information needed, but hopefully it provides a look at what we are now seeing that makes a difference in getting more options and offers to the insureds. Any information that is not provided leaves too many unanswered questions or assumptions that may not be favorable to the insured. In today’s aviation insurance market, the more information the better.