Offers Add'l Coverage For Non-Dealer Sellers

Avemco Insurance Company recently launched a new specialty insurance product for aircraft traders -- insurance coverage for those aircraft owners who buy and sell aircraft on a part-time or sideline basis. 

Available in most states as of August 1, Avemco Aircraft Trader Insurance provides coverage not previously available for non-commercial traders who are not dealers but end up buying and selling several aircraft over the course of a year. The policy will allow for coverage specifically tailored to the unique needs of this niche market. The product will be available for owners who buy and sell standard certificated single-engine aircraft and meet the company’s underwriting guidelines.

"We have observed that there are a number of owners whose aircraft is always for sale and who are always on the look out for a good buy," said Avemco president Jim Lauerman. "Yet most of these owners go without appropriate insurance expecting the buyer to have coverage. These owners are running the risk of being with the wrong coverage should a mishap occur. So we’ve added Aircraft Trader to our product line for this special market."

Avemco Aircraft Trader Insurance is available in most states; and, it joins the company’s broad specialty product line that also includes offerings for CFIs and light sport aircraft (LSAs), technically advanced aircraft (TAAs), homebuilts, and non-owned aircraft liability coverage. Hangar coverage and life insurance for pilots, written through non-affiliated insurers, are also available through Avemco Insurance Agency, Inc.

"Avemco is the general aviation industry’s only direct underwriter, so we’re well positioned to handle the flexibility necessary for this type of specialty insurance. Traders can add qualified aircraft to, or remove aircraft from their Avemco policy with one call. This coverage will recognize that the owner has a sideline interest in trading aircraft. Avemco’s direct business model makes it easier for all our customers to fully enjoy their aircraft purchases," Lauerman added.

FMI: www.avemco.com