Aircraft insurance isn’t something you just “set and forget.” Like your aircraft itself, your policy needs regular inspection. And the best time to do that? Right before renewal.
Unfortunately, many aircraft owners renew their policies each year without asking any questions. They trust their broker to “handle it,” assume their coverage is still appropriate, and move on.
But here’s the truth: Your aircraft, usage, flying time, and underwriter appetite have likely changed since last year. And if your broker isn’t asking the right questions, you need to.
Here are the most important things to ask your broker before signing another renewal.
1. Has My Policy Been Shopped to All Major Carriers?
Not all brokers shop your policy at renewal. Some just send you last year’s quote with a new date.
Don’t assume it’s the best offer.
Ask your broker:
- How many carriers reviewed my policy this year?
- Were there any new options that opened up?
- What were the price and coverage differences?
If they can’t answer, or avoid the question, you might be leaving money (or coverage) on the table.
2. Are My Liability Limits Still Adequate?
Aircraft liability lawsuits are on the rise. A $1M/$100K policy that used to be standard may no longer offer the protection you need.
Ask:
- Should I consider $1M smooth or higher limits?
- What’s the cost to increase liability by one level?
- Are there carriers who specialize in higher-limit policies for my aircraft type?
Protecting your passengers (and your assets) should never be a guessing game.
3. Am I Eligible for Any New Discounts or Incentives?
Your flying experience may have improved. Your hours are higher. Your training might qualify for a credit.
Ask:
- Do I qualify for any simulator-based discounts?
- Do I need a flight review, IPC, or recurrent training to lower my premium?
- Have any carriers added new training programs that reduce rates?
A good broker will help you plan for discounts, not just apply them.
4. Has My Usage or Risk Profile Changed?
Are you flying more or less?
Using your aircraft for business now?
Carrying more passengers? Adding co-owners?
If your broker hasn’t asked this, they may not be updating your policy accurately.
Ask:
- Does my current use match the declared use on file?
- Is my liability coverage enough for the way I use the aircraft now?
Undisclosed use changes can lead to denied claims.
5. What Training, Equipment, or Planning Can Help Me Long-Term?
A great broker doesn’t just save you money now. They help you improve your risk profile over time.
Ask:
- Are there any changes I can make this year to improve my renewal next year?
- Would adding a co-pilot, upgrading avionics, or taking a safety course help?
- Do you see any common claim risks for my make/model?
Proactive planning = long-term savings.
Final Thoughts
Don’t treat aircraft insurance like a utility bill.
Treat it like an important financial decision.
A great renewal conversation should feel like a strategy session, not a rubber stamp.
If your broker isn’t walking you through these questions…
You might not just be missing savings, you could be missing coverage when you need it most.
Take the time. Ask the hard questions.
And if you’re not getting answers, it might be time to explore your options.
[Schedule a free renewal consultation with BWI today.]
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