Are You Getting Good Service From Your Aviation Insurance Broker?

The aviation insurance product as a whole is pretty much universally standard amongst most aviation brokers – meaning the underwriting carriers your broker has access to are typically the same set of carriers from broker to broker (at present, there are roughly 22 or so insurers writing aviation insurance hull and liability policies here in the USA). 

Sure, smaller regional aviation insurance brokers might not be contracted with all insurance carriers in the space because they do not write enough business to permit an appointment from some carriers, but mid to large-sized brokerage firms working in the turbine class all go to the same set of carriers. 

As such, the product (quotes from the underwriting companies) theoretically should be the same regardless of which broker you use to access the specific underwriting carrier within the space.

What Actually Sets Brokers Apart?

In this sense, what sets one broker apart beyond product expertise is, frankly, service. 

Smaller brokers might be regional with one small home office open 8 am to 5 pm Mon-Fri and no personnel outside of that office. Larger brokers typically have regional offices and personnel across the USA, in most, if not all, time zones. 

This metric is particularly important when you need service over a weekend or perhaps after hours in your time zone. 

Having a broker or representative from your insurance broker’s company who responds to your phone calls or voicemails promptly is paramount.After all, you pay good money for an insurance policy and should receive outstanding service from that broker who sold you that policy (knowing you may never have to file a claim!). 

‍

Responsiveness Matters

I routinely hear stories from new clients that their prior broker took a week to return their phone call or their prior broker didn’t want that client to have their cell phone number, preferring to ‘work’ only during normal 8-5 business hours. 

I personally think that is very poor service. 

All clients should have a broker’s mobile number and be encouraged to call with any questions, problems, or service events needed – even if it’s after business hours. 

I went so far as to remove my firm’s main office line from my business card, replacing the main office line contact with my mobile phone only. 

Clients should be able to get immediate access to their broker or receive the courtesy of a prompt return call regarding their questions or issues. 

‍

Understanding After-Hours Limitations

Aviation underwriting companies, however, typically only operate during normal business hours – Monday through Friday. 

So even if a broker is accessible after hours or on a weekend, they may not be able to get a service request handled if it requires underwriting approval or disposition of the subject matter (adding a pilot, for instance, or approving an additional insured request). 

So it’s important to know that the broker is the mouthpiece for the insurance underwriter, but when underwriting approval is needed, it may need to wait until business hours (no different than the banking world or other financial service industry products).

‍

Bottom Line 

The bottom line is that if you are paying good money for an aircraft insurance policy, you have a right as a consumer to have the broker who sold you that policy be accessible after the sale. 

It is up to you to vote with your business when your broker provides poor service, doesn’t return phone calls promptly or fails to reply to emails in a timely fashion. 

I always remember a line a good customer of mine uttered about 20 years ago – he said – I paid good money for this policy you sold me and for coverages I may never use – you best pick up the phone when I call you even it’s just to say hello. 😊