Insurance | Diamond Aircraft

INSURANCE.

Diamond Aviation Insurance Program Overview:

Diamond Aircraft is known throughout the insurance industry for its excellent safety record - for more information, see here, and for its good reparability. As a matter of fact, Diamond aircraft are among the cheapest aircraft to insure.

Independent of any special program, you can therefore get very competitive quotes on your Diamond from most brokers - unlike some other planes, where a company-supported program may be necessary to make insurance affordable, especially for less experienced pilots. At Diamond, though, we always strive to do more - which is why, after reviewing the market, we have partnered with Eastern Aviation Insurance and nationally recognized A-rated insurance companies to offer the Diamond Aviation Insurance Program (DAIP.)

The program offers unique terms, rates and benefits to both Flight Training Organizations and leaseback owners who place their Diamond on a flight line - and to individual pilot-owners. Be sure to compare the benefits listed below to your requirements - and judge for yourself whether this program adds value to your Diamond purchase.

Diamond Flight Center Benefits

Under the DAIP, qualifying Flight Training Organizations - those that are approved, after audits, as Diamond Flight Centers - can receive exclusive benefits that include:

No deductible for first occurrence during policy period
Very competitive pricing - especially on the Diamond aircraft on their flight line, but also on other types
Negligent instruction coverage - which may not be available at all under some other programs
Life insurance policy for instructors - again, an element unique to this program
Exclusion of Fellow Employee Endorsement
Non-Owned Coverage and Joint Waiver of Subrogation for program participants

DAIP is able to offer these benefits not only because of the Diamond aircraft's excellent safety record - but also because we audit our flight training partners rigorously, before they earn the designation of Diamond Flight Centers. For more information about becoming a Diamond Flight Center, click here.

Diamond Owner Benefits

Individual aircraft owners are looking at benefits like:

Policy credit option for recurrent training at Diamond Flight Center's
Very competitive pricing
Attractive liability coverage - with available $2 million smooth coverage for qualifying experienced pilots
Additional coverage for aircraft placed on leaseback at Diamond Flight Centers - with a unique option of obtaining a $1 million smooth limit for owner use, even on leaseback planes
Higher available limits with higher or no sub-limits for persons and/or passengers
Broader terms and conditions.

Diamond Aviation Insurance Program Overview:

Aircraft insurance rates are driven by many variables: the type of aircraft -including its safety record and how easy it is to repair in case of damage, whether it is used for personal or commercial purposes, the ratings held, total flight time, time in make and model by the pilot(s) flying the plane, the amount of aircraft liability insurance needed and any available discounts based on these variables will have a great effect on the cost of the policy. Half of the battle to purchasing aircraft insurance is working with the right agent or broker. The Diamond Aviation Insurance Program has already done that part for you, by putting in place a partnership with a broker committed to customer service, and dedicated backing by a top aviation insurance underwriter. (The broker works directly with you on your application, then submits it to one or several underwriters, who will actually provide the financial backing of the policy, and who will be responsible to pay any claims that may occur.)

Note that, in contrast to car insurance, you can only work with one broker in aviation, due to an agreement between most underwriters and brokers to only quote one given risk/case once. That's why starting out with a good broker is important - you can switch later on, of course, but it is more difficult and can involve quite some paperwork.

Hull Insurance

General Aviation insurance companies base costs upon the agreed value of the aircraft. One of the bigger components of airplane insurance is what is known as physical damage coverage, which protects the body of the aircraft. Your policy should be based upon the airplane's current market value - i.e., what it would cost you to replace the plane.

Liability Insurance

Aircraft liability insurance provides protection for property damage or bodily injury to people other than the policy holder or those named within ("Third Party Coverage"). And unlike your home or auto insurance, there are a number of stringent prerequisites used for obtaining increased limits in coverage - many underwriters require advanced experience like an instrument rating and more than 500 hours' flight time to obtain the most favorable rates and coverage. In many cases, liability coverage is limited to $1 million total, with a sub-limit of $100,000 per passenger, especially for less experienced pilots. If you are a more experienced pilot, you may be able to get coverage of $2 million 'smooth' - i.e., without sublimits - to protect your assets; be aware that only select underwriters offer such coverage, and only to more experienced pilots.

INSURANCE.

Overview

Diamond Aviation Insurance Program Overview:

Diamond Aviation Insurance Program Overview:

Broker and Underwriter Background: Eastern/AXA

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