Aviation Insurance Solutions

In Brookfield we make sure to contribute by looking after our clients’ needs and taking good care of our aviation personnel. Thus, we work with different insurance brokers to offer you access to high-quality products that can be tailored to fit your requirements.

Aviation insurance is vital to protecting your aircraft, employees, passengers, and other stakeholders. Hence, it is extremely important in these days to understand the factors that affect premiums. The cost of aviation insurance, like all insurance, is driven by risk factors. The higher your risk of being involved in an incident, the higher your insurance premium will be.

For general aviation / aircraft owner-pilots, in order to keep rates as low as possible there are steps you can take to show the underwriter reviewing your insurance application that you pose a lower risk. You can do that by taking into consideration the below actions and earning a better insurance premium.

Get as much experience in the make and model of the aircraft you are insuring. Your total flight hours and experience in the type of aircraft you are looking to insure are crucial factors in determining your insurance rate. To receive a quote, some aircraft may have minimum requirements for total time, as well as required time in type of aircraft.

Keep training. Training is important, specifically, continuous training in the aircraft model you are currently flying. Each aircraft is unique. It is beneficial and sometimes required to receive initial flight instruction in the aircraft make and model you wish to insure.

Hangar your aircraft. Protecting your plane from the elements reduces the risk of damage from weather events like strong winds and hail. It may also reduce the wear and tear on your aircraft and lower your maintenance costs.

Stay claim-free. Being a careful, safe, conscientious pilot and avoiding incidents is critical to keeping your insurance rate low. That means staying out of the cockpit if you are fatigued, ill, impaired or otherwise not in the right condition to fly.

Fly frequently. Insurers like to see that you’re eager to continue improving your skills and willing to invest the time, effort, and money to do so. Staying current is important to be proficient in flying your aircraft.

Consider your passenger-carrying capacity. Your policy premium is based in part on the number of passengers your aircraft can carry. If you previously needed a specific carrying capacity, but now it is reduced, you can consider switching to a smaller aircraft and paying less for your insurance.

Review your coverage annually. It’s a good idea to spend a little time each year refreshing your memory on what’s covered by your aviation insurance policy and how much you’re paying for that protection. You might discover that a change in your situation during the past year means you’re now paying more than you should. Just as importantly, you may find that you’ve got a coverage gap that you need to address.

Ultimately, getting to know your insurance coverage is like getting to know your aircraft. The more effort you put into it, the more benefit you get out of it. Our partners are specialised in any type of aeronautical risks starting with aircraft operations (from turboprops to wide body airliners, as well as helicopter operations), used for regular, governmental, offshore, firefighting, Medevac, VIP transportation, cargo operations, and charter flight, scheduled flights, among others.

Hence, we would be pleased to assist with competitive coverage in the following areas:

· Hull and Liability for general aviation

· Hull and Liability for airlines

· Worldwide medical insurance for your employees

· Total Loss Only

· Loss of Licence and Air Crew Group Personal Accident

· War/Political Risks

· Ground Risks and Airports

· Hull Deductible Insurance

· Air Cargo and Cargo Liability

· Premises, Hangar Keepers & Product Liability

· Space launch plus in-orbit, launch guarantee and space third-party liability.

· Drones/Unmanned aerial systems.

If this is of interest, please contact dea@brookfieldav.com.