Page 14 - July 2015 Volume 9, Number 7

Lastly, consider the claims process and reputation of the carriers whose policies you are considering. Ask your broker what their experience is with the varying carriers regarding claims management, as well as their attitude towards “betterment” when adjusting a claim. Some carriers have a more favorable reputation than others when adjusting claims.
Consider this “betterment” claim we processed with a new carrier about six years ago. It was our first claim with this market and was not going well. The claims adjuster wanted to put a used deice boot on the leading edge of the wing, or charge “betterment” for putting on a new boot. The client was furious. He explained, and showed pictures and documentation to show the boots on his airplane were in excellent condition and meticulously maintained. He routinely stripped the old wax off and resealed them. There weren’t patches over pinholes, or any other devaluing aesthetic appearance. After relaying this information to a manager at the insurance company, they recognized they had an opportunity to go above what was legally required. We also reminded the carrier that, being new to the aviation market, they needed a good reputation amongst the aviation community regarding claims adjustments. Although they aren’t the cheapest quote today, the client is still insured with this carrier
six years later. The primary factor in the client willing to pay more was how that claim was adjusted.
As with most things in life, cheaper isn’t necessarily the best option. This applies to your insurance policy, as well. There are many great carriers out there, some are legacy markets and some are new. A market may be aggressive for your business by offering a cheap quote. Be cautious, and ask three simple questions of your insurance broker:
1) How do the ancillary coverages compare?
2) How long have they been in business and what is their financial rating?
3) How does their claims process compare to other markets?
It can be difficult to consider these less than ideal scenarios, but is necessary to ensure you have the best policy and carrier defending you, should you need it. KA
About the Author: Kyle P. White is the president of Avia- tion Solutions, LLC, and has professionally flown King Air 90s and B200s. He holds a Commercial and Flight In- structor license, and now specializes in aviation insurance. You can reach Kyle at kylewhite@ aviationsolutions.aero.
12 • KING AIR MAGAZINE
JULY 2015