Choosing your Aviation Insurance Broker
Choosing an Aviation Insurance broker can be very important in securing the right policy and coverage available to you. In Australia, we have a limited number of insurers to work with, each having different appetites and capacity for various aircraft types depending on certain parameters. Therefore, you need to work with the right broker to navigate the limited options available and place your insurance cover with the appropriate insurer.
If you decide to approach a specialised aviation broker, they will canvas the entire market on your behalf and provide you with the best options and policy comparisons to assist in your decision making. A good broker will guide you throughout the process and recommend the best insurer based on your current requirements while also taking into consideration future changes that may need to be achieved.
By appointing a single broker to act as your aviation insurance broker, you eliminate the confusion of multiple brokers contacting the same insurers/underwriters, this keeps your insurance marketing to one professional and produces the best and most consistent results. An experienced aviation insurance buyer will tell you that rather than spending your time and effort looking for the best quotes, you should be putting this time and energy into researching and getting to know which broker you should work with to achieve your desired results.
Establishing a strong, trusted relationship with your broker allows them to best represent you in the insurance marketplace. If the underwriter is forced to establish pricing based on incomplete information, you can bet the premium will be on the higher side rather than a competitive premium offered if the insurer has been provided with detailed information about your risk. Remember, the broker you choose is there to act as your advocate in the entire marketplace.
It is very important when considering your insurance broker that they know the local aviation market and that they understand how to extract and provide the most comprehensive and competitive insurance product available. We understand this with a proven record and expertise in this area. Working closely with our clients on customised insurance solutions with coverages sourced from our insurance partners, we not only provide insurance quotes, we also provide guidance and assistance throughout the entire process tailoring the insurance policy to your specific requirements.