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The Top 10 Business Jets

by Lydia Wiff 15. January 2017 08:00
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It’s hard to believe that just over 100 years ago, flying was just a pipe dream.  We’ve come a long way and now aviation has a part to play in many industries and has become its own segment of the aerospace industry.  “Business aviation” refers to any aircraft that are used in furtherance of a business.  According to the National Business Aviation Association, business aviation contributes approximately $150 billion to economic output and employs at least 1.2 million people (NBAA.org).  While only about 3% of the 15,000 registered business aircraft are flown by Fortune 500 companies, the rest belong to varying sizes of for-profit and not-for-profit companies all over the United States – this includes universities, local and federal government, and other businesses. 

Arguably, the future of aviation is business aviation and Globalair.com has their top ten picks for business aircraft backed up by several years of experience in aircraft sales. 

#10: Gulfstream 550 (G550)

If there is one company that evokes luxury in their aircraft, Gulfstream Aerospace has to be it.  The sleek frame of the G550 cuts through the air at 0.80 Mach using two Rolls-Royce BR710 engines with a max cruising altitude at 51,000 feet.  This luxury jet can be configured up to 19 passengers and sleeps 8 comfortably.  If you’re looking to escape the cares of everyday life easily, or reach your international group in England, the G550 has a range of almost 7,000 nautical miles (nm).

While it boasts a comfortable ride for passengers (a cabin over 40 feet long), pilots aren’t soon forgotten with the state of the art PlaneView™ flight deck featuring some of the most advanced avionics known in existence.  The flight deck features four liquid crystal displays for your flight crew with easy software upgrades making it compatible to your flight department, no matter how big or small.  Additionally, a Head-Up Display (HUD) is included in the G550 that projects flight data in the pilot’s forward-looking field of vision.  In times of reduced or obscured vision, such as inclement weather, the Enhanced Vision System (EVS) uses infrared technology to capture what the pilot cannot see – runway markings, taxiways, and other terrain are now visible in poor weather conditions.

According to the NBAA, the G550 has the reliability of 99.9% -- this means out of five years of service, you will only miss one trip (Gulfstream.com).  In a world where time equals money, this is a statistic to get behind.

#9: Gulfstream 200 (G200)

The little brother to the G550, the G200 had its first flight on Christmas Day in 1997 and was later released in 1999.  While Gulfstream no longer produces the G200, it doesn’t keep it from being a popular used aircraft.  It was originally named the “Astra Galaxy”.

Like most Gulfstream aircraft, the G200 boasts a large cabin size that can hold to 18 passengers, but typically configured for 8-10 passengers.  Unlike the Rolls-Royce engines, the G200 runs on two Pratt & Whitney Canada PW306A turbofans producing a maximum cruise spend at 0.80 Mach, similar to the G550.  While it has approximately the same cruising speed, the G200 has almost half the range at 3,400 nm at 45,000 feet which makes it a perfect aircraft for domestic flights here in the U.S.

From this description, the G200 can be seen not only as a predecessor to the G550, but the smaller, less expensive version of the G550.  The G200 is an excellent aircraft for a business that does mostly domestic flights.

#8: Hawker 4000

Taking a break from the Gulfstream family, the Hawker 4000 hails from Beechcraft which is owned by Textron Aviation – the parent company to Cessna and others.  Produced from 2011 to 2013, the Hawker 4000 was quickly realized as the top jet product by Beechcraft.

A worthy competitor to the G200 as well as slightly newer, it can seat up to ten people (14 maximum) and has average of 6 feet of standing room in the interior cabin.  It cruises at 45,000 feet with a range of 3,445 nm and 870 km/hr.  A common identifier of the Hawker 4000 is the hawk profile painted in tan on the tail section.

If you’re currently in the G200 as an airframe, a newer and comparable version would be the Hawker 4000.

#7: Hawker 800XPi

A predecessor to the Hawker 400 is the Hawker 800 which was first produced in the early 1980s.  A later version of the Hawker 800 was the XP and XPi which was most notable by the addition of winglets.

Like the previously mentioned aircraft, the 800XPi is similar in size when it comes to passenger capacity and length.  The maximum speed in cruise is 745 km/hr while its range is the shortest out of the group at just under 2,000 nm and has a service ceiling at 41,000 feet.  However, it’s rate of climb is nothing to sneeze at – 1,948.8 feet/minute!

#6: Citation Sovereign

We now switch gears back to the Textron company to that of Cessna and the Citation Sovereign.  This particular aircraft is classified as a mid-size business jet and at the time of its introduction in 2004, the third largest in the Citation line (weight-wise).

A unique feature of the Sovereign is its ability to take off and land in short distances which is unusual in a business jet.  For corporations and private companies, this becomes a valuable feature for plants and factories situated in small towns with short runways.  Not only does the Sovereign get you there fast (848 km/hour), but it also is considered a transcontinental aircraft with a range of over 3,000 nm.

#5: Falcon 2000

In our plethora of business aircraft manufacturers, we come to Falcon (birds of prey do make good names).  Dassault Aviation is a French aircraft manufacturer that can be seen as a fairly healthy competitor to Textron’s companies as well as Gulfstream.  Probably the most notable of the Falcon line are the aircraft that have three engines, however, the 2000 is the one of the older models in the line with just two engines.

Like other aircraft in its class, the 2000 has comparable speed as well as range which is 3,000 nm.  The impressive thing about the 2000 is its ability to climb to 37,000 feet in just nineteen minutes – that’s just over 1,900 feet/minute!

#4: Challenger 605

We’ve finally come to our last brand name in jets (although not our last pick) which is that of Challenger.  It’s one of the few non-American manufactures and actually is produced by Canadair which you might recognize as the manufacturer of the Canadair Regional Jet (CRJ).  Coincidentally, Canadair is an independent company that is also a division of Bombardier Aerospace – famous for its Bombardier Business Jets, or BBJs, among others.

The Challenger 605 is the fourth aircraft in the 600 series which dates back to the late 1970s.  The 605 was introduced in 2006 as an upgrade to the 604.  Some new features included larger cabin windows, updated Rockwell Collins instrumentation and the capability of holding an “electronic flight bag”.   The most distinct visual feature is the rounded tailcone.

The 605 is comparable in size to the previously discussed aircraft, but is one of the fastest at 870 km/hour and a range close to 4,000 nm.

#3: Challenger 300

The Challenger 300, at first glance, can easily be confused with the Challenger 600 series which is not the case.  Unlike the 600 series, the 300 is recognized as a Bombardier (parent company of Canadair). 

It entered commercial service in early 2004 and is considered a super-mid-size jet.  This basically means it’s very comparable to all the other aircraft discussed, but has greater range capability.   The 300 has a range of approximately 5,700 km and caps out at 45,000 feet.  

#2: Gulfstream IV-SP (GIV-SP)

We’re back in the Gulfstream family (popular for a very good reason)! The GIV-SP is very comparable to other Gulfstream products, but represents the fine-tuning that the Savannah-based company did to improve their product line.

For instance, Honeywell advanced flight deck displays, electrical power generation, cabin temperature control and pressurization were added to this particular model.  Additionally, improved Automatic Power Unit (APU), flap system, redesigned landing gears, and other systems were improved in this particular model.

#1: Gulfstream 650 (G650)

Quite possibly my favorite Gulfstream is that of the G650.  Sleek, shiny, and the largest of the Gulfstream family, this aircraft has the ability to take you just about anywhere.  True to the company’s tagline for this aircraft, “Farther faster, first of its kind,” the G650 more than lives up to its standard.

It has done just that with a maximum range of 7,000 miles (you read that right), and an operating speed of 0.925 Mach.  It also has the heaviest takeoff weight at almost 100,000 pounds (that’s a lot of golf clubs, or fuel).

Besides the G650 being visually stunning, the wingspan is the most noticeable at approximately 100 feet which is nearly as long as the aircraft itself.  It also features the most advanced avionics developed by Gulfstream – the PlaneView™ II flight deck.  Like the G550, it has four displays with the EVS, HUD, Synthetic Vision as well as fly-by-wire technology which is computer-controlled and highly redundant – this is advanced as the technology gets.

A Clear Winner?

While Globair.com has their favorite picks which have proven to be popular among used aircraft owners, be sure to do your research when it comes picking the business jet that works for your company.  Remember to read our tips about purchasing an aircraft – while focused on single-engine aircraft, there are some excellent tips to consider.  However, you might want to consider going to a jet broker when it comes to your business needs.

Hopefully you now have a better idea of the common business aircraft on the market – just remember to save your pennies as these sleek, used aircraft run anywhere from $6.4 to $52.9 million!

 

Searching for your next private jet? Click here to visit Globalair.com’s listings. 

 

 

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Buying an Airplane: Tidbits and Tips

by GlobalAir.com 27. December 2016 16:28
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Buying an aircraft can definitely be a daunting task. Then again it can also be one of those life’s experiences that can be a lot of fun. Of course the main element is financially what can you afford? The other requirement to decide on before you even start is what will you use the airplane for business or pleasure or a combination (otherwise known as the mission profile). These two elements will govern the sensibility of the equation and answer the question are you ready for aircraft ownership. I can tell you from personal experience that just because you love flying and love airplanes does not mean you are ready to own one and the financial risk associated with it.

There are many factors to consider when buying an aircraft least of which is the purchase price. Just as you shop for a car in the beginning it may seem complex with all of the different choices. Though it seems complicated by doing your research and knowing what your mission profile is narrows the choices considerably. Believe it or not it may very well be more affordable than you thought.

One of the biggest mistakes when buying anything is not thinking the whole process through. Yes the purchase price is the largest out of pocket financial risk. But, you must look at the sum of the total. One of the largest “Opps” moments I have ever seen has been when the buyer thinks he has made a steal on the purchase of an aircraft only to find out LATER that they did not do a Title Search on the aircraft and there is a lean (such as a mechanics lean) which cost the buyer thousands of dollars. Folks, spending $100 bucks in the beginning for something as little as a title search could save you big bucks in the end. Never, ever buy an aircraft without having a Title Search completed. It would also be to your advantage to purchase a copy of any 337’s done on the aircraft. The 337 form is what an A&P mechanic must fill in when they have made any structural modifications to an airframe. Generally done when there has been damage or mods done to the airplane.

Speaking of Title Searches and 337’s I would also recommend that you use a Title Search company. These companies based in Oklahoma (where the FAA is) serve many tasks. Not only completing Title Searches most also serve as a holding or escrow company. An escrow company holds deposits, pre purchase maintenance fees and in general the middle man in the transaction. You don’t see a lot of the smaller transactions using an escrow but for the life of me I can’t figure out why. Yes they cost money like everything else in this world but they make sure your transaction is conducted correctly and as smooth as possible (peace of mind).

So we’ve addressed a couple of the pitfalls and the easy button that takes care of them, what’s next. Flight Mission is the most over looked aspect of buying an aircraft and unless you have money to burn for over kill (in this context yes literally kill you) it should be the first thing you look at. Everyone one wants to buy the P-51 Mustang but in reality what would that accomplish. Yes the cool factor is out of this world but when you look at what will I be using this aircraft for and the cost to operate it the P-51 is also impractical. For one it is a deadly aircraft, buying a big motor fast airplane is a bad idea. When you buy an aircraft look at what you will really use it for and what you can fly safely. If you are on a limited budget, pure pleasure and the $100 hamburger then depending on your level of training you might try a Cessna 172 or Piper Cherokee. For the more experienced pilot you might want a little more speed and space you might try a Mooney, Saratoga or Cessna 182.

If your flying is going to be more business with a little pleasure mixed in then you will probably want to look at an aircraft that can fly cross country. The Cirrus SR22 is a nice cruiser at about 200 knots has all the next gen avionics and can carry a couple of guys with luggage 800 miles or so. Probably the Cadillac of single engine piston aircraft will be the Bonanza G36. This aircraft can carry a load so yes the wife, the kids, the dog and just about all the luggage will fit just fine. In addition it has retractable gear so performance and mileage move up the scale also. Remember though these aircraft also come with a price. New out of the factory Cirrus SR22, Bonanza G36, Cessna TTX and the Piper Matrix prices can fly upwards of 700K fast.

Then there are the special mission aircraft. Again you will still need to study what your mission is. For instance in Alaska where you live and die with short gravel runways you need to have Short Take Off and Landing (STOL) capabilities. When you are flying in bush country you generally want to also have tundra tires. Keep in mind these will effect the performance of the aircraft. The Husky A-1B, Cessna 185, Cessna T206 are good for these missions.

So now you have figured out what the mission is. Before you ever sign on the dotted line here are a couple more tidbits that you need to investigate.

  1. Purchase price – Simple, low time aircraft that have been hangered all their life or new overhauled engines are always going to be at a premium. Higher time, with good avionics, new paint and interior will be next in the line of pricing. High time, runout engine (or close to it), steam gauges and god help you if it has damage is at the bottom. Globalair.com has a loan calculator that you can choose your payment and loan percentage points and will calculate an entire payment schedule.
  2. Maintenance – One of the first things to look at is where the aircraft is based. It seems almost every aircraft in its life span has spent some time near a sandy beach. Bad for airplanes, if they have been stationed there for some time corrosion sets in. A loving caring owner will sometimes do undercoating’s or rust prevention, that’s the one you want. Start a maintenance program from the start. Calculate the cost for every hour you fly (cost per hour). Put that specific dollar amount into a maintenance program. Hopefully you will never need it until the engine is ready for overhaul.
  3. Upgrades – Avionics, interior and paint. Every pilot has a favorite color or radio! This boils down to what you are accustomed to and what you feel safe to fly with.
  4. Legal work – purchase agreement takes lawyers, partnerships agreements. As the saying goes pay me now or pay me later. Your choice.
  5. Fuel – generally 30-40 percent of ownership.
  6. Insurance
    • New pilot – fly as much as you can and build your hours up, more time less cost.
    • Old pilot – with no incidents, several endorsements of other aircraft, couple thousand hours, type ratings. All of these bring your insurance cost down.
  7. Hangar cost – Most pilots make this their getaway home.

What to look for in a plane.

  1. Always the first thing to look for is there Damage History?
    • Buying an aircraft is always Buyer Beware. It is your life after all.
    • It is your due diligence (responsibility) to read the airframe log books, maintenance logs, engine logs thoroughly. This is when you bring in your local A&P or an expert in that particular aircraft.
  2. If Damage
    • What you determine is damage might not be to the seller – Define it with them from the beginning.
    • Is there a copy of the 337 form in the log books. If not walk away. Just because it is a line item written in the logs does not mean there wasn’t a ton of other work not mentioned.
    • Was the damage fixed by an authorized manufacture facility, local FBO or field repair.
      • If field, use your common sense, if the repair was a wire tie on a bolt OK, if the landing gear collapsed then oh no, walk away.
    • If the damage was repaired several years ago by a reputable maintenance facility. Then it falls under the category of your call. You will never be able to sell the aircraft for what the market is bearing for one that does not have damage, but if you plan on keeping the aircraft until you quit flying then why not. (Check with your insurance company also).
  3. Current condition – again now is the time you to have a good mechanic with you – pay the price for a good one.
    • Paint and Interior
    • Avionics
    • Current maintenance condition, again checking all logbooks determine how the owner(s) took care of the aircraft. Changed the oil regularly?
      1. Have all AD’s and SD be complied with.
      2. Has annual or other scheduled maintenance be done on regular basis
        • Radios been certified in a while
        • Other instruments needing certs.
  4. Check the engine
    • Compression, compression, compression

So we’ve gone through just about all the basic’s the final step is hit the market and find the aircraft that meets your budget and your eye. There are thousands of different aircraft to look at that fit almost any mission profile. From experimental aircraft to one from the manufacturer. This can be almost as fun as flying itself. Finding a needle in the hay stack is a rare find, but if you keep your wits and shop you can find any aircraft. For those that are a little shy on buying one themselves it is highly recommended to find an aircraft broker that specializes in what you are looking for. The reason for this is twofold. One the broker is always going to know more about the market than you will. Second if you find a brokerage firm that specializes in the type aircraft you are looking for they are also going to know more about that aircraft than you ever will which will come in handy on a pre-purchase.

Now while this article has been written for single engine piston aircraft purchases the general outline can be used for twin piston aircraft also. With jet and turbine aircraft there are a few more precession items such as turbine discs and the number of cycles on the blades that are important. For the most part the cost are higher because these aircraft are made heavier, fly higher and faster. There are also believe it or not worldwide rules that must be completed before you can complete the purchase.

Alan Carr is a thirty year veteran in the general aviation business. Bought and sold corporate aircraft and now runs a successful aviation website. To contact please email alan.carr[@]globalair.com

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Aircraft Sales | Aircraft For Sale

Trade Show? I Think You Mean Fun Show!

by Lydia Wiff 1. November 2016 10:00
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Growing up, I always remember my dad attending trade shows for the different companies he worked for.  Now, he was an engineer, so I always assumed they were pretty boring (sorry, Dad!).  It didn’t matter if he came home with all the trade show cool swag like pens, pencils, reusable bags, hats, or stress balls (to a kid, those things are like gold).  Several years later, I have learned that trade shows, aviation ones of course, are tons of fun and the opportunities to network and learn are endless!  This post will cover a few that I have had the chance to personally attend as well.

Air Venture

What summer would be complete without a trip to Oshkosh, WI for the Experimental Aviation Association (EAA) Air Venture?  I know, people don’t really think of it as a trade show, but have you really looked around when you’ve been there?

Icon is giving demos of their recreational aircraft (you can fish from it!), Cirrus is writing up orders for their new jet, and general aviation is absolutely thriving during this aviation extravaganza.  Hundreds of companies tote their wares all week in the hope they will meet new customers, see their current customers, and really just get their name out there.  9am-5pm are the show hours, but networking goes on for hours after the show is closed.

Companies like Cirrus, Piper, Pilatus, Kodiak, and many other woo their customers and new clients with cookouts, dinners, and more.  New products get shown over dinner and deals get sealed by the time the dessert menu gets passed around.  Additionally, this “trade show” features class acts from aerobatics pilots, showcases military aircraft from every era of aviation, in addition to the biggest pyrotechnic show you’ll ever see at an airport (actually, it’s probably the only one at an airport). 

I love going to Oshkosh when I have the chance and even if you aren’t working with a company, it’s a great place to network.  Just sitting at lunch one day this summer, I met a pilot who flies for SkyWest – now, tell me that Air Venture isn’t the most fun you’ll ever have at a “trade show”. 

National Business Aviation Association (NBAA)

The second trade show I’ve had the opportunity to attend is that of the NBAA Business Aviation Convention and Exhibition (BACE) in Las Vegas in November 2015.  This particular trade show caters to any type of business with a corporate flight department in the United Sates and all over the world. 

I had the opportunity to attend last fall with a group from the University of North Dakota (UND).  Since we were students attending, we got a huge break in the conference fee and by that I mean it was so affordable even for a poor, college student!  All we had to do was take care of meals, flights, and lodging.  I found some fellow students from Purdue University who were members of Women in Corporate Aviation which proved to be a great networking opportunity in and of itself. 

Additionally, there were many universities that had their own booths at BACE including any company you could possibly think of.  I actually sat on one of the shuttle buses with a gentleman from Italy who worked for Pilatus – I told you it was a worldwide affair!  I also had the chance to meet those from other companies at the different booths in addition to after-hours functions.  A fun memory was going to the Las Vegas Executive Airport and looking at all of the static aircraft displays.  Gulfstream had many different aircraft on display, which is one of my favorite business jet manufacturers.

Lastly, NBAA BACE was a great way to faces to names.  I actually got to meet the owners of Globalair.com and those that had given me the blogging scholarship that year.  If I wasn’t so busy with classes, I’d be back this year promoting the scholarship!

Why Trade Shows?

You’re probably sitting there wondering why you should go to trade shows in general.  Besides the FUN aspect of trade shows, it’s important to continue to network even though you might currently be a student, or even if you are well into your career.

Last year, I had a professor that really pushed students to attend NBAA and to network in general.  In fact, many of my professors, including my adviser, always push students to get their names out there.  It doesn’t matter if it’s introducing yourself to a guest lecturer, meeting alumni, or attending trade shows.  I guess what I’m getting at here is that you never know what’s around the corner and growing your professional network only builds your contact list in addition to the possible jobs that could arise from it. 

Plus, going to these events is a great way to catch up with alumi!  I love running into people I know at these events – it makes the event that much more memorable and we get to talk about aviation (I mean, who doesn’t?).


Remember, NBAA BACE is just around the corner!

November 1-3, 2016 – Orlando, FL

Visit the Globalair.com booth – Booth 4936!

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So You Want To Insure Your Plane...

by Lydia Wiff 15. October 2016 10:00
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Imagine yourself here: you’ve finally saved enough to buy that beauty of a Cessna 172. You have got your pre-buy done, the loan paperwork finished and the delivery to your home airport all arranged.  You suddenly remember that you need insurance, but realize you have no clue if aircraft insurance works the same as car insurance.  Today’s post is designed to give readers an idea of how aviation insurance works – you’ll see that aviation insurance is similar to your car, but also very different. Before I give you the low-down on aircraft insurance works, it’s important to get a little history.

A Brief History 

After World War I, we begin to see the emergence of the civil aviation industry which goes hand in hand with the aviation insurance industry.  Post-war brought a surplus of war aircraft which were then either dumped into the market for pennies on the dollar.  An aircraft which had previously cost the government, such as $17,000 for a Curtiss Jenny, was being sold in the open market for as little as $50 – I don’t know about you but I’d buy an airplane right now if a Cessna was that cheap!

Former military pilots all over the country were buying these cheap planes up using them for a variety of civil aviation activities such as barnstorming (trick flying), crop dusting, mail delivery, passenger transport, and more.  As one can imagine, these new civil aviation activities added a whole new risk for insurance companies and often resulted in crashes for a variety of reasons.  Companies were ill-equipped to handle this new risk and many saw a significant loss as a result.

However, one company rose to the occasion, despite an almost certain loss, and Travelers Insurance Company became the first to announce a comprehensive program specifically for air risks in 1919.  Travelers wrote lines of insurance primarily for maintenance, operation, and the use of an aircraft for private and commercial operations.  Several lines were included in the program including: life insurance, accident insurance for owners and pilots, trip accident ticket insurance, Workers’ Compensation insurance, and public liability and property damage insurance.  While Travelers was the first to offer these lines of insurance, it’s important to note that they did not include lines for damage to the actual aircraft (this is referred to as hull coverage). 

Over the next few years, which Travelers anticipated to be a period of profit, the company ceased to exist in 1931 after being in business for 12 years.  Several other companies sprung up during those first years after Travelers made their foray into aviation insurance.  As the aviation insurance industry stabilized, companies that exist still today started to appear such as United Sates Aircraft Insurance Group (USAIG), the Associated Aviation underwriters (AAU), and the Aero Insurance Underwriters (AIU).  With several new companies in the U.S. market and an abundance of accidents during the early years, companies began to look for ways to spread the risk so that losses were not so significant. 

Group Approach, the Law of Large Numbers, & Reinsurance

As many new companies were entering the aviation insurance industry, it was discovered there was a more economical way to do business in addition to spreading the risk.  Individual companies were taking huge losses when a claim was filed because of the damage to aircraft and property as well as the deaths of those involved.

The “Group Approach” was created with the intent not only to spread the risk between many companies but also to spread the profit between those same companies.  The founders of the group approach did considerable research in Europe (a country with a more developed aviation insurance industry) and found that indemnification (making a party whole after a loss) could be handled safely only by employing the group approach.  This new method of the group approach also brought about the synonymous concept of the “Law of Large Numbers” – the risk and profit are spread over a large number of companies which allows for a much more stable aviation insurance industry.

Another approach used to stabilize the insurance industry was the approach of “reinsurance”.  In the early days of insurance, a devastating fire threatened to bankrupt several of the local insurers and it was quickly discovered that insurance companies themselves needed to be insured against such catastrophic losses.  What began as a way to protect insurance companies became the essential element of aviation market supporting major airlines, airports, and even space risks.  Aviation insurance can be similar to auto insurance (premiums, liability, etc.), however there are some key differences that are important to know about. 

Direct Writers, Brokers, Underwriters & Policy Term Length

Recently I bought a new car.  To add it to my insurance, all I did was call up my insurance agent at State Farm® and give the Vehicle Identification Number (VIN), make, model, year, and the accident history.  I opted for full coverage since it was a much newer car than I had owned previously and in a matter of minutes I had a binder (temporary insurance policy) ready for me at the office to pick up so that I could use my new car.

State Farm® is a great example of what is known as a Direct Writer.  A direct writer gives a you an aircraft policy option through their company, just like an auto insurance agent.  There is actually only one company that currently issues policies this way –  the Avemco Insurance Company.   This company is actually very popular with private owners of aircraft in general aviation, airports and Fixed-Base Operators (FBOs).  It can be argued that Avemco gives the best deal as they directly write their own polices, which brings me to the concept of insurance brokers.

Insurance brokers (as well as agents) are the middle men between insurance companies and people looking for insurance.  Brokers work for a commission (percentage) of the premium and work with certain companies to find the best policy for their client much like aircraft brokers look for the best buyer for their clients’ aircraft.  When they gather a list of different policies, they take them back to their client for comparison and selection.  Agents are a representative of an insurer and have delegated authority to act on behalf of their company.  Insurance agents, however, are often certified as both an agent and a broker.

An important item for novice plane owners to know is that the policy term is much different than that of auto insurance.  For instance, if you have auto insurance, you are probably set up for auto-renewal.  You pay your bill every month, every 6 months, etc., and your coverage continues along.  However, when it comes to aircraft insurance, a policy must be reviewed every year – this means that Avemco, your agent, or broker will be giving you a call to re-write your policy contract.  While this may be slightly annoying to you, it is actually in your best interest as it allows the company to revisit you and the aircraft and see what has changed in the last year.  The assumption is that risk has changed at some point whether that relate to you as the pilot or the aircraft itself.

Closing Thoughts

Prior to a few months ago, I actually could not have told you the differences between auto and aviation insurance.  Since then I have been taking a class about aviation insurance and learning that it is a lot more complex that I originally thought.  I’m not sure when I’ll be able to insure an aircraft at this point, but just learning about it will only help me to become a more informed consumer.  Hopefully that is the case for my readers as well!

Works Cited

Brandon Wild, Assistant Professor, University of North Dakota, Aviation Insurance, Lecture, Fall 2016.

Wells, A., & Chadbourne, B. (2007). Introduction to aviation insurance and risk management. Malabar, Fla: Krieger.

Images courtesy of Google Images.

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GlobalAir.com | Aircraft For Sale | Lydia Wiff | UND

Textron To Develop New Single-Engine Turboprop

by GlobalAir.com 4. August 2015 15:45
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By Mary Grady
AvWeb
Textron Aviation

Textron Aviation has "been listening to the market" and sees an opportunity to introduce a new single-engine turboprop, the company confirmed in an email to AVweb on Monday. "This is an entirely new, clean-sheet design aircraft -- not a derivative or variant of any existing product," the company said. The company is not yet releasing details about the project, but said their intent is to "outperform the competition" in parameters including cabin size, acquisition cost, and performance capability. "By leveraging the newest technologies, we expect this aircraft to have a range of more than 1,500 nautical miles and speeds in excess of 280 knots, while offering best-in-class operating costs," according to the company's statement. The design will be on display next year at EAA AirVenture.

In its recent second-quarter shipments report, the General Aviation Manufacturers Association said 191 single-engine turboprops had been delivered in the first six months of 2015, compared to 217 delivered in the same period last year. Textron already produces several turboprop aircraft, including the single-engine Cessna Caravan line and the Beechcraft King Air twins.

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