Helicopter Insurance Rates Are On Pace To Increase
According To BWI, A Helicopte
The aviation insurance market has been hardening throughout
2020, with helicopter owners among the hardest hit.
BWI Aviation Insurance warns pilots to prepare for
an extended hardening of this tight market.
Long before COVID-19 pandemic hit and dealt
a significant blow to the U.S.
economy, aviation enthusiasts
were reeling from a cyclical
hardening of aviation insurance
rates.
While the aviation industry is incredibly
diverse and now includes unmanned
aircraft such as drones, this hardening was
seen across all types of crafts with rotary
aircraft among the hardest hit.
In an attempt to help helicopter pilots navigate this difficult season, leading
aviation insurance broker, BWI Aviation Insurance offered tips for gaining
the lowest rates.
"There is not much that helicopter pilots can do to
avoid the rising rates in their entirety," White added,
"But they can mitigate the damage as much as
possible." All aviation insurance works as a pool and
when there are massive losses, the entire industry
feels the impact.
The high-profile helicopter crash that took the
life of NBA superstar Kobe Bryant and his
daughter is thought to be a loss that will affect
aviation insurance rates for years to come.
There are approximately 12 aviation insurance companies writing
policies in America and they have all experienced a high number of
claims in recent years.
About BWI Aviation Insurance BWI
has been at the forefront of the
aviation insurance industry since
1977.
Family and veteran-owned, BWI
sources aviation insurance solutions
for every range of aircraft from gliders,
fixed wing, jet aircraft, drones and
more.
Contact Us At:
https://bwifly.com