Industry Insights

Written by Tom Hague, Wings Insurance Director of Sales

While hull and liability insurance are vital for every aircraft owner, be sure you have the best possible policy for your needs before signing anything. Tom Hauge, Vice President/National Sales Director of Sales for Wings Insurance, shares his expertise in aviation insurance and highlights the small print and limitations you need to be aware of.

The aviation market is unique and when considering insurance, without a doubt, the first step is choosing an insurance broker that really understands the market. When you are insuring an aircraft worth anywhere up to $70 million, you need to be confident that your broker has secured the correct policy for your needs.

Beyond hull insurance, where most claims are made, the amount of liability coverage you go for is of significant consideration. One of the questions I get asked most is “How much liability insurance should I carry?” You can only figure that out once you have cons...

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Written by Dan Dunn, former Jetcraft Vice President Sales, USA

A used aircraft sale will usually include a pre-purchase inspection to verify that the condition of the aircraft meets the representations made by the seller.  This inspection is often referred to as a "Pre-Buy."  An industry standard Pre-Buy inspection requires selecting an appropriate service facility that is approved to perform work and inspections by the manufacturer. It may be a center owned by the manufacturer itself, or a mutually agreeable facility.

The scope of a pre-purchase inspection is determined on several factors, namely age of aircraft and warranty status, recent or due inspections, and comfort level with the transaction in general.  A Pre-Buy inspection is traditionally paid for by the buyer and may also include a test flight of the aircraft.

Many buyers will review the technical status of the aircraft and may negotiate with the seller to include scheduled maintenance that is near due in the ins...

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