Anticipate An Aircraft Insurance Claim
"I don't need aviation insurance because I have been flying for thirty years and have never put so much as a scratch on an aircraft." It's human nature. We all have had the thought of "it can't happen to me". It would probably surprise most to know just how often we hear this and similar statement. When thinking about accidents, tragedy, illness, etc. we all have that inner voice that says that is someone else's problem and not nor will ever be our own. The fact that you are even reading this article is evidence that the logical voices in your head, however, are telling you otherwise.
The fact is many accident/incident claims have nothing to do with "you" really at all. As humans, we are only a small part of the equation. We certainly have no control over such things as weather, malfunction, bird/wildlife strikes, etc.
Assuming the logical voices win this innermost debate and you really do know that such "not me" thinking is irrational, else why buy insurance for your aircraft at all? As the old saying goes, "prepare for the worst and hope for the best". This is, in fact, what the core of insurance is about, preparation.
So now that the more rational voices have prevailed, it is time to move from planning to action and start reviewing options to best protect you and your assets.
First, let us look at some questions to help you in making the right choices when it comes to aviation insurance and protecting your aircraft value through such unforeseen circumstances.
- Does the insurance company have in-house claims managers or are all claims outsourced to independent adjusters?
- What is the reputation of the aviation insurance company's claims department?
- What is the company's history in terms of both time in business and processing of claims?
Answering these first few questions will give you a good head start on choosing the best insurance company to represent your needs.
Under the unfortunate situation of a claim needing to be made, it helps to know what steps are necessary to come to a quick and full settlement. As a client, you should have direct access to either your agent or a representative. While often times making an immediate claim is not critical, it is important that it be managed in as timely a manner as possible.
Once your agent has been notified of your claim, their role is to notify the underwriting insurance company to help assist in quick processing. At this point, the underwriter agency's claim department will take over. Because managing the claim falls under the role of the claims department, this means the actual agent and underwriter will often be out of the loop as to where things are at in the investigation and processing.
Because your agent should have your best interest in mind, it is important to let them know how the claims process is being managed. While most claims are handled without problems on occasion questions, do arise. It is at these points that your agent can help come to a quick resolve to help the claim process to completion. Based on your agent's rapport and history, they may be able to help smooth the process over with the claims department.
At Chappell, Smith & Associates because we have a history of over 100 years in business you can be assured that our agents are well trained, the underwriters we work with are high quality, and the respect we earned in the industry is unparalleled.
Because of the natural disconnect, insured parties have it is not uncommon to feel that your claims adjuster should act as a first responder with the highest urgency. Contrary to this belief, the adjuster's role is to assess the damage, which is not exceedingly time-sensitive in nature. Because of this, it is best to have patience and calm as the claim is being processed.
To speak with someone who can help with insurance coverage for your airplane, helicopter, commercial drone, or other aviation asset feel free to contact us. Our qualified agents can help you shop the best rate while at the same time, making sure you get the best coverage possible for your insurance needs. You can use the contact form here or give us a call at 1-800 999-1109.
Author: CS&A Staff
Editor: Lewis Austin