A Guide to Aviation Insurance Agency

Written by Small Business Magazine on December 19, 2017. Posted in Aig aviation insurance, Aircraft insurance brokers, Insure your drone

Qbe aircraft insurance

The world of insurance can be puzzling and hard to understand for people who are on the outside looking in. this is why most people will defer to the help of a health insurance agency and health insurance agent when trying to get themselves the best deal. However, most people are unaware of the fact that there are so many different types of insurance that people are not keen to.

When people find out there are aviation companies that get insurance from an aviation insurance agency they are shocked and surprised. However, this form of insurance is imperative for any aviation company and is a huge part of being able to fly people in airplanes as well. Here are some facts on what an aviation insurance agency brings to the table in terms of people who fly on their planes.

The International Air Transport Association, or IATA, gathers data every single year to determine how many people fly on planes and arrive at their location safely. In the year of 2015, the IATA determined that more than 3.5 million people flew safely on just about 37.6 million different flights. This is in part thanks to the services provided by an aviation insurance agency.

The concept of aviation insurance probably sounds so odd because even though flying is popular, the average person knows very little about aircrafts and airplanes, to begin with. for instance, the average American probably does not know that every single year general aviation aircrafts will log in just about 24 million flight hours. When planes have so many miles clock in it is necessary that they have aviation insurance agency.

Once you understand that people can get insurance for drones, the concept of getting insurance for the airplane is not as crazy as you first thought. As a matter of fact, there is even aerospace insurance, helicopter insurance, and aircraft hangar insurance as well.

In the year of 2016, it was determined that there were over 580,00 active pilots across the United States. Of the gross estimated worldwide premiums of $4.62 billion collected by the aviation insurance industry in 2015, 51% was paid by general aviation, 34% by airlines, and 15% by aerospace companies. The U.S. has the largest and most diverse general aviation community in the world, with more than 220,000 aircraft, including amateur-built aircraft, rotorcraft, balloons, and highly sophisticated turbojets.

In Conclusion

There is no question that the work of an aviation insurance agency is absolutely essential to the sustainability of the aviation industry. Without this insurance provided to aviation agencies, there would be no commercial aircrafts for people to utilize when traveling across the country and across the globe. This is because the aviation company wants to make sure that they have the right resources in place in the case of an emergency. This is why the aviation insurance agency that works for commercial aircraft companies is so important.

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