Are you looking for a new aviation insurance policy? While you can directly approach the insurance companies, working with a broker or agent is often the best way to receive the lowest quote and most effective package. BWI Aviation Insurance Agency is a friendly, knowledgeable, and competitive broker serving clients across the lower 48 and Alaska. But why should you go with us?
We have provided an in-depth review of your selection process and some insight into how this unique industry operates so you can make a more informed decision.
Work with a Broker that You Trust
Your first priority will be finding an individual or business that welcomes your questions and answers them honestly and frankly. How do you make that decision?
Does your broker answer when you text or call?
When searching for your aviation insurance agent, you need to know that they are able and will respond to you. At BWI, our offices maintain regular hours that are convenient for all time zones. While we are located on the West Coast, our phones go live early in the morning, so you can always get in touch with a real person. We also employ multiple brokers and support staff, which means we have the time to address all your concerns.
Did your broker take the time to listen to your aviation insurance requirements?
Unlike car insurance, aviation insurance must be customized to your craft, your business, and the pilot’s skill. Your broker should ask if you are operating a private charter, cargo, passenger, or personal pleasure craft. How often is your plane in the air? Who sits in the pilot’s seat? What type of cargo are you transporting?
At BWI, we want to get to know you better so we can build an insurance solution that properly protects your interests. We understand that it is rare for two clients to have the same coverage.
Are they asking for specific details regarding your experience, the craft, and your business?
The underwriters for your policy rely heavily on statistics to create a package for you. When you are asked about your pilot training, certifications, and flight time, your broker should insist on a precise number that is backed up by documentation. The amount of time that you or your pilot has operated your type of aircraft is also crucial.
We understand that the application process may seem particularly nitpicky and time-consuming, but precise answers often help us find the lowest rate possible for you.
Will your broker change with the times, or are they stuck in the past?
Did your new agent pull up a file created 10 or 15 years ago to start helping you find the right policy? The insurance industry is constantly changing with regard to increased air traffic, economic conditions, and worldwide events. Like a pilot, your broker should also constantly be expanding their knowledge of the industry.
Can they offer recent data regarding rates, new coverage options, and insights?
BWI is always conducting research, attending conferences, and actively seeking information required to deliver superior service and products.
How many markets will your broker approach when developing a quote?
Did you know that there are about a dozen companies nationwide that offer aviation insurance? If your broker only works with two or three markets, you will not receive the best possible rates or coverage options. We maintain relationships with all the available markets, so we are better able to develop an insurance package that fully protects you and your assets.
Are they an aviation specialist or a general insurance agency?
Did you make a call to your insurance agent who handles your home, auto, and business policies? While working with a familiar face is reassuring, a general insurance broker does not necessarily have the contacts or knowledge to effectively find a quality aviation policy.
The aviation world operates in a separate sphere from other types of insurance. Far fewer people own a plane, let alone operate an airborne business. While statistically, flying is much safer than driving, when something goes wrong, as it can, the effects can be far more damaging. You need to work with a company like BWI that fully comprehends the differences and requirements of our niche industry.
Which broker do your flying friends and colleagues use?
As with any important decision, ask the people who work with a specific type of business for their recommendations. At BWI, we are happy to provide testimonials from our client list. But we also encourage you to ask your friends about their personal experiences with their insurance broker. You will enter into this relationship with greater confidence when you hear positive feedback regarding your new agent.
Why did the broker ask me not to call several other agents at the same time?
Since every insurance broker across the country speaks to the same dozen or so underwriters when developing quotes, asking multiple brokers to get you a price can actually backfire. If an insurance underwriter receives multiple requests for a quote for the same person and plane, they may block the applicant. This can result in a higher quote or even the inability to get appropriate insurance.
We recommend that you decide which broker is the best choice for you before selecting an insurance company.
Can I use the same broker for my hangar insurance?
Your policy should extend beyond your craft and passengers. Does your broker also have the ability to include protection while on the ground? Ask if they offer hangar, drone, or even flight instructor coverage. It’s far more convenient to have a broker able to handle all your aviation insurance needs rather than turning to your general insurance provider for some of your flight insurance needs.
BWI has contacts across the industry who are able to provide liability, injury, and property protection, which extends beyond the coverage provided for your plane and its operators.
Why do they encourage me to take additional training and increase my flying hours?
Did your broker suggest that you may want to expand your type ratings or increase your PIC hours? Time has proven that experienced pilots are crucial to reducing risk when in the air. Your rate will be a direct reflection of your flying hours and completed certificates. Maintaining flight hours will help to keep your insurance rates more constant when it is time to renew. Ultimately, everyone benefits from having a more experienced pilot in the cockpit.
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