​​​​​Wild Blue Aviation

Yes, You CAN afford it!

Insurance

What do you mean--Real Insurance?

Insurance is something we're all rightfully concerened about, but is usually glossed over or even misrepresented.  Nobody wants to be stuck with a bill for damage or liability.  But here's the truth about insurance:

First, the good news.

First, FLYING IS SAFE!  Did you know most flying schools carry zero hull insurance (unless they're financing the airplane).  Why?  The odds of damage are very, very low.  Even when damage occurs, its usually pretty minor.  Why spend money for something you don't need?  The downside is, not only is the school not covered, neither is anyone that flies their airplanes!  Bend it, YOU get to fix it! 

More good news:  INSURANCE IS CHEAP!  Don't go naked lessin' you can stand the cold!  But you have to buy it from a real insurance company, not your flying school/FBO.

Liability is probably your biggest risk, both for third-party injuries and property damage, and is very inexpensive.  A couple hundred dollars will buy $$Million coverage.  Rates for "hull" (damage to the airplane) insurance vary, mostly depending on the value of the airplane.  Most rental airplanes aren't worth all that much (probably $15-25K for a typical 2-seat trainer, to maybe $50K for most four-place fixed-gear singles) and can be fully insured for just a few hundred dollars. 

If you finance the purchase of an airplane the bank will insist you adequately insure it--for their protection and yours.  It's only good sense to cover your risks adequately, whether you are a renter, own your airplane outright or are financing it.

It doesn't cost as much as you might think.  Buy enough to cover your risk and relax--you're covered!

Here's a few well known insurers:

1.  Both the Aircraft Owners and Pilots Association http://www.aopaia.com/ and the Experimental Aircraft Association http://www.eaa.org/benefits/aircraft_insurance.html have insurance programs for owners and renters. 

2. Thomas Johnson

    Airpower Insurance, LLC
    36 West Ocotillo Road
    Phoenix, AZ  85013-1235
    Tel:  602-628-2701
    Fax:  623-321-5843
    Email:  tomjohnson@cox.net
 
Tom is a good guy and owns a Yak-50 so he knows all about insuring Experimental airplanes.

3. Travers & Associates (800-888-9859) www.traversaviation.com

4. Cannon Aviation Insurance, www.cannonaviation.com or 800-851-2997

5.  Falcon Insurance Agency is actually the company that handles all of EAA's insurance programs.   http://www.falconinsurance.com/

The bad news:

If you are a renter (which includes student pilots and many CFI's), unless you have purchased your own insurance policy, it is almost certain that you are flying naked!  Are you paying for "insurance" by the hour or by joining a "club?"  Ask for a copy of the policy that covers YOU, that has YOUR NAME on it.  If there actually is such a policy, read it very carefully--you may be in for a very unpleasant surprise. 

Be smart:  Read the fine print in THEIR insurance policy and your rental agreement.  "Subrogation" means YOU pay the bill.

Don't be a sucker.  The only way to get REAL insurance that adequately covers YOU is to buy your own policy.  Buy enough insurance to cover your liability risk, PLUS "hull" (damage to the airplane) insurance adequate to cover at least a substantial portion of the value of the aircraft you fly.  By purchasing your own policy you will be covered regardless of where or what you fly and you'll know exactly what your coverage is.  

Be smart--buy yourself a policy and relax.  'Nuff said.

 

Financing--you CAN afford it!

You've decided to buy an airplane?  Good for you.  Here's some companies that want to lend you some money:

Nationwide Aircraft Financing
Attn: Mark J. Peteler
70 North Williams St.
Crystal Lake, IL 60014

Tel:  815-479-5200
Fax:  815-479-5718

Dorr Aviation, Inc. / Harley Davidson
488 Boston Post Road East
Marlboro, MA  01752

Tel:  800-214-0066
Fax:  508-481-3978

MBNA America Bank, N.A.
Attn: Bud Walker
Wilmington, DE 19884

Tel:  800-62-PLANE
Fax:  302-458-3535

Nationwide Aircraft Financing
Attn: Dan Garzelloni
P.O. Box 2080
Parker, CO 80134

Tel:  800-439-4860  /  303-841-1316
Fax:  303-840-1738

Nationwide Aircraft Financing
Attn: Bob Turich, Manager - Aircraft Financing
345 St. Peter Street #500
St. Paul, MN 55102

Tel:  800-851-1367
Fax:  800-669-1671

Sterling Air Finance
2101 Arrowhead Drive
Carson City, NV 89706

Tel:  800-213-9108  /  702-888-4085
Fax:  800-792-6842  /  702-888-4087

Zook Pilot Services, Inc.
Attn: Wally Zook
43W518 Route 30
Aurora Municipal Airport
Sugar Grove, IL 60554

Tel:  630-466-0180
Fax:  630-466-0181

 

How WBA Handles an Aircraft Purchase and Sale

Airplanes are expensive.  We take the business of safeguarding your purchase and sale seriously.  To assure both the seller and buyer that transactions are profesionally and properly administered we recommend that you have a title search performed and use an Escrow service.  

The Aircraft Owners and Pilots Association (AOPA) provides one of the best known title search services.  See http://www.aopa.org/info/certified/tne/ for more info.  Your peace of mind is well worth their modest fee.

An Escrow company will act as a disinterested third party whose sole purpose is to safeguard the interests of all parties involved in the transaction.  Click on the link below for a complete description of how transactions usually should be handled.  Plus, If you use the title/escrow company on this link you'll get a discount.

http://www.barnstormers.com/uploads/banners/escrow.html

Here are a few more reputable title/escrow companies that specialize in handling aircraft transactions:

http://www.aictitleservice.com/

https://www.escrow.com/index.asp?PID=2701

http://www.1st-of-pryor.com/escrow.asp

http://www.aerospacereports.com/services.htm

Airplanes are FUN!  Don't get bogged down in worry over stuff that really isn't a problem.  This ain't no rehearsal!  GO FOR IT!

Ah, no, I don't sell insurance.

Wild Blue Aviation
Hangar 28
18228 59th Dr. NE, Arlington, WA, 98223 USA
Arlington Municipal Airport (KAWO)
phone 425-876-0865
email FlyWBA@gmail.com

Real Insurance, Financing and Escrow--Do it Right!