| 1. | How much does aircraft insurance cost?
All of the aviation insurance companies use different criteria in order to determine your premium. Some information that impacts you premium include aircraft value, aircraft use, aircraft age, aircraft make and model, pilot expeirence, loss history, pilot training, limit of liability, whether the aircraft is tied or hangared, and the geographical location of the aircraft. Due to the vast amount of variables involved, it is important that we gather as much information as possible about your individual risk.
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| 2. | Do you need my premium payment in hand in order to bind coverage?
No. We can bind the insurance on your behalf then send you an invoice. We require payment within 30 days of the effective date of your policy. This allows us to insure aircraft while our clients are on the runway waiting to takeoff.
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| 3. | Can I pay my premium with a credit card?
Yes. However, we do charge 3% fee to process credit card payments. Due to that fact, most of our clients choose to pay by check.
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| 4. | Does Bullock Agency offer Non-Owned aircraft insurance?
Yes. We offer Non-Owned coverage through AIG and Starr Aviation. Please click here and complete a non-owned aircraft insurance application.
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| 5. | Can I pay my premium in installments?
We offer a couple options in order to space out your premium payments over your policy period. Also, a couple of our insurance companies offer their own financing options.
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| 6. | Can I cancel my policy during the policy period?
Yes, you can. If you would like to cancel your insurance policy, please contact us and we will get it taken care of for you. Depending on the date of cancellation, you may be entitled to a pro-rated return premium.
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| 7. | What is an Open Pilot Warranty?
An Open Pilot Warranty is requirements setforth by certain insurance policies that allow pilots, that are not specifically named on your policy, to fly your aircraft. If you know somebody that you want to allow to fly your aircraft, and they do not meet the OPW, please contact us and we may be able to get them approved with your aviation insurance company.
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| 8. | Do you offer any membership discounts?
Yes. Some of the companies we use offer discounts for members of AOPA and EAA. Please provide your membership number and we can apply the perks to your policy.
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| 9. | With which insurance companies are you appointed?
We have the ability to write insurance policies with AIG, Global Aerospace, Phoenix Aviation Managers, USAIG, Starr Aviation, Aerospace Insurance Managers, United States Specialty Insurance Company (USSIC), London Aviation Underwriters (LAU), QBE, XL Specialty Insurance Company, National Hangar Insurance Company, ABC Program, Great American Insurance Company, and Preferred Aviation Underwriters. We are always on the lookout for higly rated, reliable insurance companies.
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| 10. | Can I fly my aircraft outside of the United States?
Each of the insurance policies provide a different "Policy Territory." Most of the aircraft insurance policies cover the United States, Canada, and Mexico. Also, many of the companies include the Bahamas and/or the Carribean Islands. Please check your specific insurance policy or ask us if you are unsure if your flight will be covered.
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| 11. | Can I get insurance coverage for a ferry flight?
Yes. Many times an aircraft will need to be flown under a ferry permit. Please provide us with the details of your ferry flight and we can get you insurance coverage.
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| 12. | Can I lower my premium by increasing the deductibles?
Increasing the deductible on your aircraft insurance policy will provide minimal savings. Furthermore, many of the insurance companies do not allow insureds to change the deductible.
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| 13. | I have just upgraded my aircraft, how do I increase the insured value?
Generally, we can increase the insured value of your aircraft over the phone or email. However, somtimes the underwriter will require detailed substantiation. We may require that you send in a detailed list of upgrades including the condition of the paint, avionics, engine hours, airframe hours, or any other information about your aircraf that may help justify the increased value to the underwriter.
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| 14. | Where can I find forms I need for my aircraft insurance policy?
Many of the forms that you need can be found by clicking here. If you do not find what you need, please contact us and we will send it to you right away.
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| 15. | I had an aircraft insurance claim, will that fact increase my policy premium?
It depends. If your aircraft was tied-out and was hit by a hail storm, probably not. If your aircraft insurance claim was due to pilot error, your premium will most likely be higher than usual for a few years due to the claim. Like most things with aircraft insurance, premium increases due to claims are situation dependant.
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| 16. | Should I contact multiple aircraft insurance brokers to ensure that I am getting the best rate?
No. Since Bullock Agency is a broker, we have access to all of the aircraft insurance markets. Truth be told, if you contact more than one broker, you may actually block us from getting quotes from the most competitive markets. Some of the insurance companies work on a "first come, first served" basis. So, if another broker did not do a thorough job marketing your risk, we will be blocked from certain companies or be stuck with a less than adequate quote.
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| 17. | How do I cancel my aircraft insurance policy?
If you would like to cancel your policy, please complete the Lost Policy Release form in our documents section and send it in to Bullock Agency. We will then send it to your aircraft insurance company.
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| 18. | What is a BOR and what does it do?
A BOR is a Broker of Record "letter" or "form." This is a document that formally appoints one broker to procure aircraft insurance quotes on your behalf. Due to the "first come, first served" nature of the aircraft insurance market, somtimes we will need you to complete a BOR in order to get your aircraft insurance quotes released to us from an insurance company. So, if you sign a BOR in our favor, no other brokers can get aircraft insurance quotes on your behalf until you sign a BOR in their favor.
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| 19. | Can you provide insurance for my drone or UAV?
Yes, we can. A Handful of the aircraft insurance companies we work with offer policies for UAVs. Please contact us at anytime to get an insurance quote for your UAV or drone insurance.
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