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Insurance coverage is a necessity if you are operating an FBO. When you service transient aircraft or a client leaves their aircraft in your car, custody and control you may responsible for any damage to the aircraft. Most of the services that FBO's engage in leaves them vulnerable to many exposures. Fueling Aircraft, Fixing or maintaining aircraft, moving aircraft around the ramp, in and out of hangars, providing catering to the aircraft.
Colt can and will utilize their experience in risk management to provide you the insurance coverage you need to operate and at the same time protection you can afford. Give us a call at 281-280-2100 or 678-574-8720 to discuss your aircraft and your insurance requirements. As former underwriters we know the right people to get things done!
In addition many of the insurance companyies we do business with offer Risk Managment Consultation with their insured's, so if you want to increase your bottom line by operating smarter and safer give us a call. We can set an appointment to have your facility inspected by your insurance companies representative.
Everyone wants to pay the least amount of premium but have the ALL inclusive coverage that protects and indemnifies them from any sort of exposure or loss. Well no such policy exists and never will exist but with help from NAIA we can proivde you with the most comprehensive coverage available. .
Airport Insurance policies have the same general makeup.
These sections form the contract between you and the insurance company regarding the coverage they will provide to you. It is in your best interest to read and understand your policy and ask your agent any questions if you don't understand something.
In order to get a quote for your business we will need to complete an Airport Liability Application or Risk Survey. They can be found on the Get A Quote/Risk survey tab.
Once we have all the information necessary we will negotiate with all available underwriters for your type of business. Why not all the underwriters in the aviation insurance marketplace? Because not every insurance company will insure the type of business you may operate. They each have their own opinions and history with different types of operations and some companies may have had some really expensive claims in one category and will charge significantly more premium or not offer coverage at all for that type of business.
It generally take 24 to 48 hours to get a quote or a request for more detailed information. These types of policies are underwritten by people and each one has their own opinion on what information they require in order to offer a quote so there maybe additional information needed.
After you receive the quotes we will compare and contrast the quotes with you to determine which offer is in your best interest.
As of 2012 there are over 15 companies offering Aviation Insurance Coverage in the United States as an admitted carrier.
It is rated on your Annual Gross Receipts and also on your loss history.
First and foremost is to keep your claims to an absolute minimum. Make sure everyone in your organization has the proper training to avoid unnecessary claims.
Additional coverages beyond the basic policy are:
Hanger Keepers Legal Liability
Products & Completed Operations
On Premises Auto
Host Liquer Liability
Personal & Advertising Injury
Fire Legal Liability
Not at all. You may have to stay with the insurance company who paid your claim for awhile after 3 or 5 years they pretty much forget about it.