Page 18 - Volume 13 Number 5

your former carrier can be difficult magnetization. While I’m not a
In a subjective situation where a metallurgist determines when damage occurred, there is a window of time along with probability levels. Each insurance carrier you have had a policy with since the 2014 lighting strike is going to want the other carrier to pay. Each carrier will seek proof from you that the occurrence happened on their watch in order for them to pay the claim. However, if you have been with the same insurance carrier for many years, the carrier knows they are obligated to pay as there isn’t another carrier in the picture.
Sometimes change is necessary and you may find yourself needing to switch insurance companies. If you get in this situation, do so carefully and for the right reasons. Price is important, however, an extra $1,000 in annual premium would be well worth it for the King Air owner facing an $85,000 bill to get their aircraft sold.
If you do switch carriers, a very important consideration should be given to the financial strength and claims reputation for your current carrier versus the carrier you are considering.
Be sure you are comparing apples to apples when assessing a change. There are over two dozen ancillary coverages to be evaluated and considered. Not all carriers’ ancillary coverages are the same or offer the same limits buried within the policy. Ask your broker what coverages you might be losing if you switch insurance companies. Also, consider carrier flexibility. For example, would they be accommodating if you needed to request a 30-day training extension for the pilot in command? KA
Kyle P. White is an aviation insurance specialist for a global insurance brokerage company. He has professionally flown King Air 90s and B200s and holds an ATP and multi-engine instrument instructor license. You can reach Kyle at kpwhite816@gmail.com.
as their level of interest in working with a former client may not be a top priority.
Under scenario No. 1, if you are with the same carrier now that handled the original claim, you have a new claim to file with your insurance company. This particular King Air owner was having a hard time determining if there was a particular event in the last five years that would have resulted in
PT6 specialist, the experts at Pratt & Whitney can consult with you on possible causes of magnetism. However, it may be difficult to pin down the exact time engine magnetism occurred. The insurance company is only responsible for occurrences taking place during your policy period. If the King Air owner switched insurance companies at least once since the 2014 claim, they may have put themselves in a predicament.
16 • KING AIR MAGAZINE
MAY 2019