Flight Risk Private Aviation Insurance

Flight Risk Private Aviation Insurance

It’s that time of the year again! The cold air, snow, lights, decorations and delicious food, make us wish this season could be year-round. More importantly though, it’s a time where families can gather together once again. Travel rates during this time of year tend to increase, as everyone is visiting family. Last year in 2017, it was estimated that roughly 100 million Americans were planning to travel, whether that was to see family or go on vacation.* Whereas driving may be cheaper, many people opt to fly because it is often quicker and more efficient. Although some people tend to prefer private aviation because of the convenience and privacy it offers, private aviation is much more dangerous than flying commercially.**

Aviation insurance differs greatly from personal home and auto insurance, but insuring your aircraft and your safety is just as important. Choosing the best insurance provider will not only protect your aircraft business, but more importantly all the passengers on the plane. It will also cover third parties involved in aviation accident like the people injured during the crash, any crops or buildings that are ruined by the plane and the properties that are damaged because of the accident.***

With all the risks associated with flying, we have listed below a few insurance options you may want to consider when purchasing private aviation insurance.****

  • Owners Aircraft Insurance
    • If you’re the owner of an aircraft, we highly suggest the Owners Aircraft Insurance, which covers aircraft categories such as jets, airplanes, seaplanes, turbines and air gliders… just to name a few. It’s also mandatory to have in-flight Insurance since this specific type of insurance will cover the liabilities incurred by the plane during accidents in the air as well as incidents that occur on the ground.
  • Hangar Insurance
    • As an owner, you should consider purchasing Hangar Insurance to secure the locations where you park your plane. Additionally, the owner also has the option to get Hangar Keepers Insurance, which includes the personnel who maintains your aircraft and their safety benefits.
  • Renters Aircraft Insurance
    • If you are a renter of planes, acquiring Renters Aircraft Insurance would allow you to protect yourself and your beneficiaries in time of an accident.
  • Non-Owned Insurance
    • If you are a student learning to fly various aircrafts, it is mandatory for the schools to get non-owned insurance to protect the students if something goes wrong during the course of training.

Although purchasing private aviation insurance can be extremely costly, it’s extremely vital and worth having. Further, after you have done your research determining which insurance is right for you, your insurance company can help offer you rates and pick out the correct insurance option that suits your budget.

While private aviation provides you with maximum travel freedoms, it can also bring about numerous liability concerns. Let us develop a comprehensive coverage plan for your unique travel accommodations. Contact us today so we can help you soar the skies with peace of mind!

* https://www.travelweekly.com/Travel-News/Travel-Agent-Issues/All-signs-point-to-continued-growth-in-luxury-travel




Tips for Holiday Decorating

Tips for Holiday Decorating

Who remembers the scene in the 1989 classic, National Lampoon’s Christmas Vacation, when Clark Griswold, portrayed by Chevy Chase, is stapling lights to his roof but quickly loses his traction and ends up dangerously dangling from the roof? Clark is a true family man who genuinely wants his family to have the perfect Christmas and consequently goes to great lengths to make this happen. Although we like to laugh at his silly and often ill-advised choices, his actions are exactly what we want to avoid this holiday season. In this blog, we have listed a few decorating tips to keep you safe so you can hopefully avoid being a part of a scene from this hilarious film.*

Holiday Lights
One of the best parts of the Christmas season are the lights. It’s already the most wonderful time of year, but there is just something so special about the twinkling and sparkling that makes it so magical. However, these beautiful decorations also have many risks associated with it. First of all, you should never hang your lights close to anything flammable. If you do have lights around a non-artificial Christmas tree, be extremely cautious and make sure to unplug the lights before bed or before leaving the house.

Holiday Tree
According to the American Christmas Tree Association (ACTA), Christmas trees start around 210 house fires per year.** The best way to avoid a Christmas tree fire is to use artificial trees, which are fireproof and require very little upkeep. However, if you love the pine scent of Christmas trees and are committed to purchasing a real one, it is necessary to keep it well-watered as the dry trees are even more flammable.

Holiday Ornaments
Many ornaments are made of glass which means they are extremely breakable and can shatter into many very sharp pieces. If you have small children or curious pets, they could accidentally step on the glass and hurt themselves. Although glass ornaments are extremely beautiful, consider purchasing plastic ones, or hang your glass ones high above the reach of small children and pets. Further, when decorating your tree, if you insist on glass ornaments, securely place them on a sturdy branch or far enough back into the tree so if it does fall, there is some cushion.

Holiday decorating is one of the primary ways to get in the Christmas spirit. It is difficult to imagine Christmas without lights or decorated Christmas trees. These decorations provide joy that makes this the most wonderful time of the year. It seems impossible for something to go wrong during the holiday season, but that is not the case. As you begin to decorate, make sure that your home is properly insured to prepare for such accidents. Whether you have specific questions or simply want to discuss your options, the Penny Insurance team is ready to help. We are happy to take the time you’re willing to spend, so give us a call today to connect with an agent to discuss your coverage options.

* https://tristarins.com/holiday-decorating-safety-tips/ (*Site no longer exists)
** https://www.christmastreeassociation.org/christmas-trees-and-fire-safety/