The Aircraft Owner’s Insurance Checklist


March 2018

Spring is almost upon us and these remaining winter weeks provide the eager general aviation pilot with an ideal time to sit down with their aircraft insurance documents. Make sure everything is in order, not only with your airplane, but on paper, so you will not lose precious time getting back into the cockpit on that first picture-perfect day. It may have been a few years since you’ve really given your insurance the attention it deserves and circumstances may have changed that could impact your policy.

So here’s a handy Avemco Insurance Company checklist (and applicable for anyone with general aviation insurance) that’ll help ensure your coverage is in tip-top condition*:

Does the name on your aircraft title match the name on your insurance policy? This may seem like a strange question, but some people forget that their aircraft policy was originally written in the name of their company, family trust, or other corporate name.

Have you reviewed your liability limits? Aircraft owners who have been with the same insurance company for many years may wish to consider an update to their liability limits to reflect their current situation and/or position in life. If you think this might be the case for the liability limits on your Avemco policy, give us a call for a quick quote on alternate limits.

Are all the people flying your airplane listed as pilots on your policy, or do they meet the open pilot warranty (if available)? If there are people flying your airplane other than those listed on your policy or those who qualify under the open pilot warranty (if present on your policy), you’re putting yourself at risk for a claim denial.

Have you recently completed any FAA WINGS – Pilot Proficiency Program Knowledge courses? This includes WINGS-approved courses from organizations such as King Schools,, Gleim, Sporty's Pilot Shop, Pilot Workshops or others. How about any flight training or new ratings or certificates? If so, you may be eligible to save up to 10% on your annual Avemco® premium thanks to our Safety Rewards program.

Are you sure of the current value of your aircraft? Since hull coverage is based on the stated value of the aircraft, not the “blue book” value, you want to be sure this is current. This is especially important if you’ve made upgrades to your plane, an engine overhaul, additional avionics, new paint and/or interior. A quick call to us will get you a current aircraft valuation*.

Not flying your airplane at this time? You could be saving money on your insurance premium during these months thanks to Avemco’s storage coverage. It reduces your premium while you’re not flying.

Do you own your hangar? If so, we can extend the liability coverage on your airplane to the hangar. We can also offer property coverage quotes through the National Hangar Insurance Program** that’s specific to aircraft hangars and their contents.

Have you filled out and returned your annual renewal update form? This is critical for getting the best coverage and premium rate possible since we use that information to determine your rate for the upcoming year. Again, don’t forget to let us know about training so we can apply the Safety Rewards discount.

Does your policy have Excluding In-Flight Hull (physical damage) coverage? Since this option doesn’t provide coverage for damage to your aircraft occurring while the aircraft is inflight you may want to be sure it meets your current needs. Please refer to your policy for the definition of “inflight.”

Are you paying too much for the wrong type of life insurance? Often pilots do pay too much. Many life insurance agents aren’t experienced enough to help you identify which life insurer is right for you based on your aviation experience, health, and the type of flying you do. Contact Avemco to learn how to obtain information about pilot-friendly insurance that’ll protect your family - even when you fly.**

Fortunately, many of these tasks can be handled right over the phone with the help of the friendly, knowledgeable Aviation Insurance Specialists in our Frederick, MD, home office. Feel free to call us at 1-800-638-8440 M-F, 9:00 am – 6:00 pm (EST).

We hope you’ll set aside some time to make sure all of your critical insurance policy information and coverage is current. In the event of an incident, you’ll be glad you did!

We’d love to know what you think of this PIREP. Please email us at [email protected] and let us know.

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Marci is the Vice President of Sales and Marketing and has been with Avemco since 1986 serving general aviation aircraft owners and pilots. Marci holds a property/casualty insurance and life health license in all 50 states and has extensive knowledge of aviation insurance and the aircraft that Avemco covers. Additionally, she is active in Aveco’s loss prevention efforts developing educational programs and training for her staff. She has been a member of Women in Aviation International since 2001 and a member of the local DC chapter. In March 2015 Marci was elected to the Women in Aviation International Board of Directors and was selected as Vice Chair of WAI in 2017.

Articles and news items provided by Avemco are not intended to provide technical or legal advice. Content is for general information and discussion only, and is not a full analysis of the matters presented. The information provided may not be applicable in all situations, and readers should always seek specific advice from the FAA and/or appropriate technical and legal experts before taking any action with respect to any matters discussed herein.

*Not all coverages or products may be available in all jurisdictions. The description of coverage in these pages is for information purposes only. Actual coverages will vary based on local law requirements and the terms and conditions of the policy issued. The information described herein does not amend, or otherwise affect, the terms and conditions of any insurance policy issued by Avemco. In the event that a policy is inconsistent with the information described herein, the language of the policy will take precedence. Aircraft valuations are based on information you submit. To provide this service we subscribe to V-Ref Aircraft Value Reference, which is not affiliated with Avemco®. Premium credits apply to Direct Approach Aircraft Insurance Policy POL0001 and are subject to underwriting guidelines.

**Avemco Insurance Company and Avemco Insurance Agency, Inc. collectively market under the service mark Avemco. Avemco Insurance Company insures general aircraft and pilots and does not underwrite insurance products offered by Avemco Insurance Agency, Inc. Insurance products offered through Avemco Insurance Agency, Inc. (Arkansas Insurance Producer License # 100108872 and California License # 0E63427) are underwritten by non-affiliated carriers who specialize in those types of insurance.

Avemco® does not provide technical or legal advice, and is not affiliated with companies whose products and services are highlighted, advertised, or discussed in content contained herein. Content is for general information and discussion only, and is not a full analysis of the matters presented. The information provided may not be applicable in all situations, and readers should always seek specific advice from the FAA and/or appropriate technical and legal experts (including the most current applicable guidelines) before taking any action with respect to any matters discussed herein. In addition, columns and articles solely reflect the views of their respective authors, and should also not be regarded as technical or legal advice.