LRingeisen
Well Known Member
We know insurance is the one thing everyone buys and hopes to never have to use. With that being said, we want any claims process to be as smooth as possible for you.
We’ve talked about the importance of checking your policy every renewal to make sure you have the coverages you want, but did you know it is also important to verify that the named insured is correct? In order to speed up any claims process, it is best to have the named insured of the policy match what is registered to the FAA. For example, if the aircraft is registered as a LLC with the FAA, but the named insured on the policy shows an individual name, this can really slow things down when it comes time to get a claims check. This is much easier to fix now with a simple phone call to your agent instead of fixing it at the time of a claim.
Also, the claim check will be issued to the named insured. If the named insured is an LLC you may want to make sure you have a bank account set up for that LLC so you have a way to cash the check in the event of a loss
We’ve talked about the importance of checking your policy every renewal to make sure you have the coverages you want, but did you know it is also important to verify that the named insured is correct? In order to speed up any claims process, it is best to have the named insured of the policy match what is registered to the FAA. For example, if the aircraft is registered as a LLC with the FAA, but the named insured on the policy shows an individual name, this can really slow things down when it comes time to get a claims check. This is much easier to fix now with a simple phone call to your agent instead of fixing it at the time of a claim.
Also, the claim check will be issued to the named insured. If the named insured is an LLC you may want to make sure you have a bank account set up for that LLC so you have a way to cash the check in the event of a loss
