Insurance Straight and Level-Checklist for personal Insurance
By Franz Smit
I decided to write an article on what experience working in the aviation sector of life insurance has taught me, and what the things are that I most often come across that could be wrong with the structure of your insurance.
Flying has taught me a lot about the safety of flying, it has taught me the importance of structure and the importance of following checklists, listening to the engine, constantly scanning the instruments and permanently waiting for something to go wrong.
Doing everything in your power to find any possible faults before they creep in is ultimately what makes all the pre-flight checks so vital. If you can spend that amount of time on your safety every time you fly, then surely you can spend the same time on making sure your personal insurance is 100% correct.
The majority of our requests at PilotInsure is for life insurance and disability insurance (Loss of licence for career pilots) and there seems to be a ever growing trend of people who think that their life insurance and disability cover will cover them for flying, in truth, more often than not it won't…
There are many reasons for this:
• Insurance company does not know that you fly
• The insurance company does not know what type of flying you do (Heli,Fixed wing,charter, pax etc)
• Incorrect information given when insurance was taken
• Your flying changed or you started flying after taking out your last insurance
Life cover - what you should be aware of
Triple check that you're insurance covers you while you are flying. If you are unsure, send me an email and I will look into it.
Some people seem to be under the impression that if you took out your insurance before you started flying, that you will automatically covered. That is simply not true.
You need to inform your insurance company if your type of flying changes or if you start flying as this changes your Risk profile and changes the risk the insurance company takes by offering your life cover.
The responsibility ultimately lies with you. You need to make sure that all the details with regards to your flying is constantly updated. An Aviation insurance specialist will assist you with this and constantly remind you of the importance
Personal Insurance Checklist:
Here is a shortened version of the checklist we use to make sure that all our clients are 100% covered for their exact type of flying.
• Does your insurance company know that you fly (Do you have it in writing)
• Have you updated your insurance since your last new type rating
• Do you have IMPAIRMENT cover and not Disability (Please see previous article)
• Do they know that you participate in fly inns, NAV rallies, aero's etc?
• Do you have the best insurance (Value) on the market
• Have you asked an INDEPENDENT aviation insurance SPECIALIST to look over your insurance?
To know without a doubt if you are covered for this, contact the insurance house directly and ask these questions. This might take a few days for you to get a response, but then you know exactly where you stand.
I will be happy to do this on your behalf, this will also give you an opportunity to have an Independent aviation specialist read over the terms and conditions so that you know once and for all what you are covered for. I am offering this service for free to all the Pilotspost readers, do yourself a favour and take me up on this offer.
I would also like to thank the CAA for their support and assistance with information regarding the aviation world. They have been instrumental in assisting us with creating our unique insurance products for the aviation world
Happy landings and please feel free to make contact with me for any questions with regards to your personal or business insurance.
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The information, views and opinions by the authors contributing to Pilot’s Post are not necessarily those of the editor or other writers at Pilot’s Post.