AirVenture Offers Several Options
by ANN Correspondent Chris Esposito
With all the cool new planes and products at AirVenture this
year, insurance companies are probably not the highest on
everyone's list of must-sees. Taking advantage of the unique
opportunity to talk to insurance companies and brokers face to face
is something that should not be overlooked, however.
Whether you are a renter, small aircraft owner, or operate a
fleet of commercial-use aircraft, you can benefit from the many
insurance companies and insurance brokers at Oshkosh this year.
AIG is an insurance company most are familiar with, due to their
size and different branches ranging from car to aircraft insurance.
AIG Aviation will have many representatives on hand this year at
booths 3151 and 3152. Their broad underwriting interest means that
they can insure everyone from a student renter to a Part 135
operator.
AIG offers the most
commonly used renter's policies, which have fixed rates based on
the limits carried. Pilot qualifications do not factor into their
pricing, so an ATP will pay the same rate as a student pilot for
single-engine non-owned aircraft policies. AIG's Light Aircraft
Division (LAD) is competitive with the more common experimental
aircraft, such as Vans Aircraft, Velocity aircraft, and Pitts
aircraft. The LAD branch primarily insures small single and
multi-engine aircraft, while AIG's commercial branch deals with the
larger jets and commercial operators.
AVEMCO, the only direct provider of aviation insurance, will
also be at AirVenture this year -- at booths 1159 and 1160. AVEMCO
primarily deals with small aircraft such as Cessnas and Diamonds,
but recently expanded to offer pilot life insurance products as
well.
As of January, AVEMCO added hangar
insurance as an available endorsement to aircraft policies, and at
this year's Lakeland Fly-In AVEMCO announced it had lowered rates
on Cirrus and some Diamond aircraft. For those renting multiengine
aircraft, AVEMCO is one of the few insurance companies able to
offer renter's insurance for this purpose. Those currently insured
with an aviation insurance broker may want to stop by AVEMCO's
booth, as brokers are not able to obtain quotes through the
company.
Falcon Insurance will be answering questions about the EAA
Aircraft Insurance Plan at booth 160. The EAA Aircraft Insurance
Plan provides policies for those building kit aircraft, and they
offer more flexibility than the standard markets. Available through
Global Aerospace, the EAA program offers first flight coverage for
those aircraft that are kit-built, and policies include $10,000 of
medical payments instead of the typical $3,000 found in most other
markets. Sport Pilots and LSA owners can obtain competitive quotes
through this program as well.
Falcon Insurance is an
insurance broker that offers policies through all the conventional
aviation insurance markets, so they are very flexible and able to
insure a wide range of aircraft and operations in addition to the
EAA plan they offer.
AUA, Inc. (Aviation Unlimited Agency) specializes in vintage
aircraft, and they will be displaying at booth 2005. An aviation
insurance broker, they are able to provide quotes through most
major markets, though they are the only company endorsed by the EAA
Vintage Division. EAA Vintage members can obtain lower prices and
special policy provisions, so AUA should be especially attractive
to owners of older aircraft such as Stearmans and Staggerwings.
Like fuel, insurance is something you can never have enough of.
While not all the aviation insurance markets are displaying at
AirVenture this year, brokers representing these markets are.
Taking a break from looking at all the shiny new aircraft at
Oshkosh may not be the most desirable thing to do, but the
insurance companies and brokers at the show are there to answer
questions and offer quotes; be sure to take advantage of this, as
you may find a few minutes could just save you money.
ANN's Daily Aero-Linx (04.16.24)
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