Insurance for Airplanes and Pilots Is an Important Part of the Aviation Industry

Seaplane insurance

When consumers get ready to fly they are concerned about the length of the security lines, what time they will be allowed to board, and whether or not their flights will depart and arrive on time. On the flip side of this equation, however, is an entire industry that is working toward your safety, while at the same time having to make sure that they are protected if something should go wrong. In fact QBE aircraft insurance and other providers offer coverage for aircraft owners, pilots, operators, maintenance organisations, airports, and a variety of other kinds of aviation businesses.
Just as doctors, lawyers, and teachers need to have their own insurance, QBE aircraft insurance brokers offer a number of protection plans for their clients. From seaplane insurance to hangar insurance, a number of insurance providers continue to not only cover traditional plans that have been in place for decades, but also provide drone insurance and other new plans as well.
Consider some of this information about the aviation industry and the many times that insurance protection is important to help individuals and companies protect their investments and their livelihoods:

  • In the year 2016 there were 584,362 active U.S. pilots.
  • The gross estimated worldwide premiums collected by the aviation insurance industry in 2015 amounted to $4.62 billion. Of these, 51% was paid by general aviation, 34% by airlines, and 15% by aerospace companies themselves.
  • With more than 220,000 aircraft, including amateur-built aircraft, rotorcraft, balloons, and highly sophisticated turbojets, t he U.S. has the largest and most diverse general aviation community in the world.
  • The number of drones sold in America is projected to grow from 2.5 million units in the year 2016 to 7 million in the year 2020, according research provided by the Federal Aviation Administration.
  • Different kinds of planes require different kinds of training and experience. For instance, to earn a seaplane rating, a pilot must demonstrate proficiency to an FAA examiner. Although there is no specified level of experience required for the rating, six to eight flight hours is typically enough time for most pilots to earn this specialized rating.
  • More than 3.5 billion people flew safely on 37.6 million flights in the year 2015, according to the International Air Transport Association.

From injuries that are specific to workers in the field of aviation to protection of expense aircraft and storage facilities, it makes sense that an entire industry revolves around offering insurance options for this very specific category.

Add a Comment