Game-Changer For Small Aircraft Owners

In a breakthrough that will revolutionize the ownership of small airplanes, FlightClub.life announced the introduction of its new insurance policy that is specifically designed for aircraft sharing in the United States and will open up new opportunities for both aircraft owners and pilots.

Owning a small aircraft is very rewarding but expensive, between maintenance, annual inspections, engine replacements, and hangar fees that add up to keep many pilots away from owning their own plane. Those that do own have long wanted to be able to rent their aircraft to help defray those expenses but have been stymied by traditional insurance policies that exclude rental or require very pricey coverage options.

As a result, many aircraft sit in their hangars or languish at tiedowns despite a strong demand for rental among pilots who cannot afford to own.

In partnership with Assured Partners and Old Republic, FlightClub’s exclusive Fleet Policy eliminates those barriers with an insurance plan that enables aircraft sharing so that owners can legally and safely rent out their planes and flip it from being just a costly asset into a revenue stream.

Key provisions of the policy are:

• Hull coverage at agreed value: protects owners in case of damage
• $1 million liability coverage: essential protection for both owners and pilots
• $5,000 deductible: affordable risk management
• Open pilot clause: simplifies the process of approving pilots
• Unlimited pilots: owners can approve as many as they want or need
• Quick approval: pilots can be cleared in a week
• Designed for aircraft sharing: actively supports rental operations

The new policy benefits non-owner pilots by allowing more aircraft into the rental market and making it easier to find an affordable airplane to stay current, build hours, or to just enjoy flying.

Which is what it’s all about, right?!

Mathew Fernandez, CEO of FlightClub.life, says it best: “Aircraft sharing is the future of general aviation, and insurance has been a major hurdle. By partnering with Assured Partners and Old Republic, we are removing that barrier and enabling more pilots to access affordable aircraft while ensuring aircraft owners have the coverage they need.”

FMI:  flightclub.life/