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Aircraft

What Is Fleet Insurance for a Private Aircraft?

What Is Fleet Insurance - The Early Air Way

Fleet insurance covers a lot of different types of vehicles. However, did you know it can cover an aircraft? What Is Fleet Insurance for a Private Aircraft? Read below to find out…

Fleet Insurance for an Aircraft Intro

A lot is involved in owning a private aircraft. You spend the money to purchase it, then find a hangar to store it in, negotiate fuel prices, and so much more just to get it safely up in the air once in a while. But, while focused on checking off all the boxes on the to-do list, it is important to make sure that you don’t forget something crucial: insuring the private aircraft. 

Think about it: We insure so many things – our health, our cars, our homes, our lives – so it only makes sense to protect private aircraft, too. This is especially important for those that are carrying passengers. But there are different ways to go about it. Ans, one that seems to stand out is fleet insurance – let’s talk about it.

The Importance of Insuring Private Aircraft

It is important to note that private aircraft insurance, although it insures the jet, is quite different from your car insurance – especially since there are many factors involved. You have a great number of liabilities when it comes to managing private jets. Everything including the storage hangar, movement on the ground, trouble in the air, and passengers on board can prove the benefits of having insurance on your private jet.  

And although no state or federal laws exist that mandate aircraft insurance, the FBO your jet calls home likely does. 

Your biggest questions should not be whether you need private aircraft insurance, but rather who you should get the insurance from and how much insurance coverage you need.

What is Fleet Insurance for Private Aircraft? 

Owning a private jet is expensive which is why many jet owners team up with a charter company. These companies are usually already set up with things like hangar storage, maintenance crew, a team of pilots, and the like. They also have the capability of handling charter flights, including scheduling and services to pull it all together. Most pay the owner a percentage of each flight which, in turn, helps to offset the cost of buying the private jet in the first place. 

This all has its advantage when it comes to insuring private aircraft. 

As opposed to an individual policy that the owner purchases protect the aircraft, a fleet policy covers all the different aircraft that a charter company manages. In other words, they have one policy that lists all of the private jets that are insured. The charter company’s name is on the policy and they are responsible for the payment of premiums, reporting losses, and so on. But each particular owner is also listed in the policy, protecting them in situations where a loss occurs. 

Perks of Fleet Insurance Policies

Are there benefits to joining a fleet policy rather than having your own as a private jet owner? As a matter of fact, yes – there are a few perks of doing so. And a few perks for the charter company, too. We will go over a few just to give you an idea of why this type of insurance policy should be considered. 

  • Perk#1: One policy covers an entire fleet. There is a lot of work that goes into owning, managing, and operating a private jet. Lots of paperwork, licensing, etc. So having one contract for one insurance policy makes life a lot easier for everyone involved. Underwriters even tend to prefer this option as it is easier to work with those who operate the jets on a daily basis and know what is going on. 
  • Perk#2: Qualifying for the best terms. Certain criteria must be met in order to qualify for some of the best terms in a private jet insurance policy. However, when it comes to fleet insurance, those stringent terms become a little more relaxed. That makes it easier to insure the aircraft with the best policy. 
  • Perk#3: Better rates. Because there are so many aircraft being insured under one policy, there is often a more appealing rate given. 
  • Perk#4: Develop a rapport with the underwriter. When you have a good relationship with the underwriter and he or she gets to know the charter operation – it makes it easy to make changes to the policies, such as adding or dropping an aircraft. Plus, any questions or concerns can easily be addressed as underwriters often have a greater sense of understanding of the account when it comes to those that are larger vs. individual accounts. 
  • Perk#5: Keep everything flowing. When you have one contact you work with, whether the underwriter or at the charter company, all communication can be handled easily. This makes administering this insurance policy much more pleasant to handle. So, renewals, policy changes, and more than charter companies may see as important can be taken care of easily – when a single owner may not have even realized it should be addressed.

What You Should Know About Fleet Insurance 

As with all good things, there are some things you should look out for, too, as well as some things you should know about fleet insurance policies in general. This includes:

  • Agreeing to a fleet insurance policy means the owner has no control over the policy – the charter company does. They are the ones that will select who to purchase the insurance from, the terms, and the coverage limits. 
  • Although the owner is listed as the loss payee, they don’t have any rights to negotiate settlements. Some owners may find relief in this while others may find it difficult to put that trust in someone else. 

Wrapping Up Aircraft Fleet Insurance

As we have stated, private jets need to be insured in some way to protect against any liability. The choice and method of that insurance is going to be left up to the owner. For those who have an agreement with a charter company, looking into a fleet insurance policy could be one of the best decisions you can make concerning your private jet. With so many perks and so few disadvantages – it seems like a win-win for everyone involved. Just be sure to do your research first to determine the best choice for your situation. 

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Categories
Charters

The Amazing Perks of Chartering a Jet

No matter what happens in the world, the need for traveling is not going to stop. People of all walks of life will need to be present at business meetings, get home to see family, head off to college, or just get away for a long weekend. While most people turn to commercial airliners for their air travel needs, there is a shift happening that has become the talk of the industry. Chartering a jet is no longer just something for the elite in our society. More and more people are finding that chartering a private jet is the ideal way to get to their destination.

Whether you have been on a private jet or not, we all know that it gives you a more luxurious experience than commercial air travel. But, really – what are the other perks of chartering a jet? We’ve listed 6 of many below.

Perk #1: Gain Benefits Without Owning

Before we get into all the great perks, we need to acknowledge one of the biggest. Before chartering was an option, you had to own your own private jet. And, let’s be real – there are not too many people who are able to do this. After all, there is a lot that goes into owning a private jet, even after that hefty initial purchase.

But with the option to charter, private jets become accessible to everyone. You pay to charter the flight, not for the jet itself, the maintenance, the crew, the hangar, and so forth – and that, in itself, is a perk.

Perk #2: Convenience

Do you loathe commercial air travel? Sure, it gets you where you need to be using one of the fastest modes of travel – but it is far from being convenient. You have to arrive hours before your scheduled flight. You can only travel when the airline dictates. You have to pay for nearly every piece of luggage you want to take. You have to stand in long lines for check-in, security, and boarding the flight. You spend hours on board surrounded by hundreds of strangers. Should we keep going? Like we said, commercial air travel isn’t convenient. But, do you know what is? Chartering a jet.

When you choose to fly private, you choose when you want to fly. You show up at that time and walk onto the jet. There are no long lines or required early arrivals. You can bring your luggage, and it goes on the aircraft with you – it’s included in the charter. And you are the passenger.

Perk #3: Privacy

As we just said – you are the passenger. Unless you invite someone else to join you, you don’t have to worry about hundreds of strangers being on board with you. That means whatever you want to do while in flight you can do without worry. Whether that is to:

  • Take a nap and get ready for your big adventure (or catch up on sleep while on your way home from a busy vacation)
  • Handle confidential business or focus on a project
  • Have private discussions with whoever you bring on board with you
  • Watch a movie or tv show

Really, whatever you intend to do while on your chartered flight, you can expect to do it without worrying about the eyes of others.

Perk #4: Get Closer to Your Destination

There are many airports available other than just the major airports that commercial flights use. That’s because these private or executive airports are not designed to handle large airliners due to runway size, etc. For those traveling on chartered jets, this becomes a great perk. You have the choice of all the airports and, in addition to being able to avoid the hectic traffic at busy major airports, you also can choose an airport closer to your destination. Talk about convenience!

Perk #5: Bring Your Pet Along

Pets are family. Many would love to bring their pet along on their travels, but when flying commercial that either means squeezing Fido under the seat in front of you or sending him straight to cargo. While neither is ideal, the latter can be very frightening and traumatizing to pets – and owners. And let’s not even talk about the potential of not making your connecting flight.

It is becoming increasingly common for people who wish to travel with their fur babies to choose a private jet. Both dogs and cats are welcome onboard your flight. You can even let your dog enjoy the comforts you do while in flight – though, most charters require cats to be crated while on board. Either way, your pet can be right there with you at all times. That’s such an anxiety-reducing perk for animal lovers.

Perk #6:  Increased Safety

Safety comes in different forms in the era of a global pandemic. Everything you come in contact with, from door handles, railings, security checkpoint baskets, check-in kiosks, and other surfaces puts you at risk – and that is in addition to the fact that you are surrounded by a ton of people in a busy, major airport. This is perhaps one of the most common reasons why many have chosen to not engage in commercial air travel over the last two years.

When it comes to chartered jets, you will encounter increased safety measures always with a thorough cleaning that reduces your chance of coming in contact with an infected surface. Further, because you are not traveling amongst other passengers, your risk of coming in contact with an infected person plummets. That’s really important and comforting to those who need to travel but may be considered at greater risk.

Chartering a Jet 

The list of perks that come with flying on a chartered jet could keep going and going. Those who have experienced charters will be the first to tell you that the perks are real – and plentiful. They can transform the entire experience. From the comfortable and cozy luxurious accommodations to the close proximity to your destination, high level of privacy, schedule flexibility, and increased health safety – don’t book another flight unless it is a chartered private jet.

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Categories
Destinations

Experience Everything Your Heart Desires with a Private Jet Charter to Dubai

A revolutionary vacation awaits those who book a private jet charter to Dubai. By traveling on an exclusive private jet travelers are just hours away from an indoor ski park, an underwater hotel, and a picturesque garden. Explore everything that Dubai has to offer, and book a fun yet relaxing summer vacation today.

Ski Dubai 
Ski Dubai welcomes visitors from around the world to their exclusive indoor ski resort. As the first resort of its kind in the Middle East Ski Dubai proudly presents guests with a wealth of awesome mountain-themed wintery activities including snowboarding, tobogganing, and skiing. The resort is equipped with an 85-meters high indoor mountain as well as five ski slopes that vary in steepness and difficulty. The longest ski slope is the black diamond which is 400 meters long. In order to satisfy every guest’s unique needs Ski Dubai also offers snowboarding lessons, a sub-zero zip line, and friendly penguin encounters.

Atlantis: The Palm
Designed to immerse guests in absolute comfort this unprecedented hotel features award-winning restaurants, exciting marine attractions, relaxing spa treatments, and dazzling rooms and suites. Visitors are sure to be amazed by the view of the hotel’s 65,000 marine animals in select lounges, bedrooms, and bathrooms. Guests will also enjoy the private beaches and pools, innovative aquatic park, and the Lost Chambers Aquarium. Shopping and nightlife are also readily available to those who would like to explore Dubai.

The Dubai Miracle Garden
Spanning over 72,000 square meters The Dubai Miracle Garden is one of the largest flower gardens in the world. Scattered throughout the garden are more than 45 million plants including edible plants and medicinal plants along with delicious fruits and vegetables. One of the main highlights of the garden is that the staff invites visitors to create teas, entrees, and salad with the natural onsite ingredients. The amazing attraction also contains roughly 15,000 butterflies from 26 species. Additionally the Dubai Miracle Garden offers a variety of services for the guests such as a prayer room, multiple sitting areas, commercial kiosks, open/VIP parking, and handicapped accommodations.

If you are reading this on anything other than The Early Airway it is stolen content. Follow us on Twitter@TheEarlyAirWay. Come and visit our blog at https://theearlyairway.com/.

Categories
Travel Tips

Avoid the TSA

Airport lines and delays are getting more frustrating and longer as time progresses. The Transportation Security Administration has been reported as a larger hassle than the benefits it provides.

In a rush of reports recently the TSA is painted as an understaffed agency with little to no track record of success, and even no cyber-security to speak of. The only impact it is having on travel and the transportation industry is slowing it down through lines and delays.

Certain systems have been proposed to improve the TSA, from increasing the manpower on the ground to speed things along, to increasing training of each agent to more accurately screen luggage, to even abolishing the TSA to replace with private security for each airport.

From this build-up in annoyances the luxury travel industry has seen an influx of new priivate charters and jet hedging customers.

 

Click here for the full article by David Matthews.

Categories
Aircraft

Private Jet Charter More Affordable with Lightweight Plane

ICON Aircraft, has delivered the first A5 ultra-light sport airplane to a customer. The A5 is a tiny fold-able aircraft with an amazingly small landing zone required. The biggest selling point is that in its smallest configuration it can be stored on a small trailer and parked on your driveway.

The goal of designing the ICON A5 was to create a cheaper aircraft for more private flights. A License to fly it only requires 20 hours of flight time, and the engine runs on gasoline you can get at the corner gas station near your house.

 

Click here to read the full article on Travel + Leisure.

Categories
Travel Tips

Flying Private From New York City May Actually Save You Money

The many benefits of private jet travel make it an ideal way to fly. A few of the advantages include comfort, convenience and luxury.

Travel by way of a private jet often includes many extras, such as quiet terminals, no long lines, no rushing, and an enjoyable flight.

In the past, these privileges came at a high price. This is not the case anymore.

Recent years have brought about changes in private jet travel.

New programs, such as empty leg charters, Uber-style booking services and repositioning flights have made it much more reasonable to fly on a private jet. In fact, it is sometimes cheaper to fly by private jet than to take a commercial flight.

Empty Leg and Repositioning Flights

When a private jet is chartered by someone, it has to be delivered back to its base destination or its next pick-up point. In the past, these flights would fly empty, earning them the name “empty leg” flights. Nearly 40 percent of all private flights operated without passengers. This is a significant waste of money for the private charter companies. They have recently begun to offer these empty seats at a steep discount. These discounts can make it cheaper to fly on a private jet versus commercial, especially since you there is no baggage, seat assignment or other fees on private jets. Passengers bring as much luggage as they desire. There is no charge for seat assignments. You can sit wherever you like on a private jet. If you want to bring Fido along on your private flight, there is no charge for that either.

 

Cost Savings of Flying Via a Private Jet

Here is an example of just how much less a private flight can cost compared to commercial. A recent private charter flight for six people from a private airport in the New York City area to Nassau, Bahamas was listed at $1,074. That equals roughly $179 a person. In comparison, flights from New York City (NYC) to Nassau are currently listed as $260 on United Airlines. Here are some of the typical extra fees with United Airlines:

  • Checked Bag Fee is $25
  • In-Cabin Pet Fee is $125-$250
  • Reservation by Phone Fee: $25

As you can see, for this particular flight, it would be cheaper for a family or party of six to fly by way of a charter or private jet. In addition to the cost savings, private jet passengers often have access to upscale amenities, such as spa rooms, private lounges and free parking. These benefits make flying via private jet a win-win situation.

 

If you are reading this on anything other than The Early Airway it is stolen content. Follow us on Twitter@TheEarlyAirWay. Come and visit our blog at https://theearlyairway.com/.

Categories
Industry & News

Comparing Jet Charter To Commercial Air Travel

When you are looking at choices to fly, you usually can choose from a commercial airliner or a private jet charter. To fully understand your options, you need to compare the pros and cons of both.

Convenience
When it comes to the convenience of flying, it’s hard to beat a private jet charter. With a commercial flight, you often have to show up at the airport an hour or more before your flight and wait in long lines at the ticketing counter and for security screening. Then you may wind up waiting for a significant amount of time before you can board your flight. With a private charter flight, you can show up shortly before your flight is to take off, don’t have to worry about any lines and can get in your seat right away.

Comfort
In a private jet, you either will be the only passenger or one of very few. There won’t be any cramped seats wedged in between strangers, and you will get personal attention from the flight staff that not even first class can provide on a commercial flight.

Speed
When you take a commercial flight, unless you are traveling between two large cities, you likely will have to connect at a hub airport and switch planes, this will add an hour or more to your flight. When you have a private jet charter flight, you can fly to any airport that can accommodate the size of plane you are on, which includes most general aviation airports around the country, which means it’s very likely you can fly direct, which will cut down on your travel time.

Cost
About the only advantage commercial flying has over a private jet charter is costs. Whereas a commercial ticket in coach class will cost you a few hundred dollars, the same flight on a private jet will cost a few thousand. However, if you have the means to pay for a private jet charter, the other advantages can be more than worth it.

If you are reading this on anything other than The Early Airway it is stolen content. Follow us on Twitter@TheEarlyAirWay. Come and visit our blog at https://theearlyairway.com/.

Categories
Travel Tips

Advantages of a New York Jet Charter

Many people may think that they can’t afford a New York private jet charter, but there are some big advantages to private air charter travel that can outweigh the costs for certain people and businesses.

Comfort
When it comes to comfort, there is no comparison between commercial air travel and a private jet charter. With a private jet charter, you will get personal service from the time you show up at the office until you arrive at your destination and get off the plane. You won’t get anywhere near that kind of service on commercial travel, even in first class.

Convenience
You can’t beat the convenience of a private jet charter. You won’t have to stand in ticket lines or security lines, and you won’t have to worry about how many bags you can take and whether you need to check a bag or not. You also don’t have to show up at the airport and hour or more before your departure time and you won’t have to fly with dozens or hundreds or other people.

Speed
When it comes to getting to your destination quickly, a private jet charter is the way to go. Private jets fly about as fast as a commercial jet, but it’s on the ground where you make up time. Not having to be bound by a set commercial schedule allows you to fly when it’s most convenient for you. And the fact that you can fly point to point in most cases, without having to stop at a hub airport, will save you hours.

Cost
On a per-ticket basis, a private jet charter is more expensive than even a last-minute first class ticket on a commercial flight. But for a business that has to fly several people to the same destination, a private jet charter might actually be a better deal. It pays to at least check into it and not assume the charter flight will be more expensive.

 

If you are reading this on anything other than The Early Airway it is stolen content. Follow us on Twitter@TheEarlyAirWay. Come and visit our blog at https://theearlyairway.com/.

Categories
Aircraft

Private Jets Furnishings Customized

One of the perks of flying private aircraft is that the interior of each one is furnished in a style unique to that airplane. Some can even be fitted with golden sinks. This one in particular is styled to mimic a vintage train, for those more old-schooled travelers with time constraints.

The corporate jet can ferry up to 19 passengers with 5 mini-suites for the basic feel of a private train cabin. A wide lounge connects these suites and a parlor for a movie center and room for conversations. The master bedroom has an en suite bathroom with shower, a private office space, and a convertible sofa and conversation space.

 

Click here for the full article on Robb Report.

Categories
Aircraft

Private Jet Construction Booming

Private jets are taking longer and longer to build as new features get added to each model. Newer models like the Gulfstream G650 and G650ER allow for customization of appliances, furniture, storage, and climate control from a smartphone. All of these options take time to implement, and the sheer number of orders for most producers is astonishing.

Demand for new private jets has manufacturers reeling, with wait lists as long as two years piling up with even more new orders. Scott Neal from Gulfstream noted that more businesses realize that a corporate jet allos for better worldwide business.

 

Click here to read the full article on Fortune.

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