Aviation insurance guru Tom Hauge from Wings Insurance is back, and this time, he’s got good news! After years of skyrocketing premiums, the insurance market is finally softening—meaning lower rates and fewer headaches for pilots and operators. Tom breaks down why this is happening, how you can take advantage of it, and what mistakes to avoid when renewing your policy. We also dig into contract pilot coverage, the risks of bush planes, and which aircraft are nightmares to insure. If you own or fly an airplane, you need to hear this one!
Connect with Tom on LinkedIn | Wings Insurance
Show Notes
0:00 Intro
2:47 Current Premiums & Softening Market
10:12 Plane Crashes & War Risk
25:13 Tips for Good Renewal Process
34:27 Having A Claim
41:41 Bush Airplanes
51:29 Cirrus Training
56:45 Terms to Know
Be sure to subscribe to 21Five's Youtube Channel to see our luggage review videos!
Our sponsors:
Move your airplane without breaking your back or the bank! Max said the Amigo AeroTow's affordable T1 tug has 'changed his hangar life'.
Learn more about AeroTow's family of aviation tugs and see why its earning rave reviews from top 40 aviation podcast hosts around the globe.
Use code "21five" at checkout for $100 off any AeroTow product!
--
Harvey Watt, offers the only true Loss of Medical License Insurance available to individuals and small groups. Because Harvey Watt manages most airlines' plans, they can assist you in identifying the right coverage to supplement your airline’s plan. Many buy coverage to supplement the loss of retirement benefits while grounded. Visit harveywatt.com to learn more!
--
Advanced Aircrew Academy enables flight operations to fulfill their training needs in the most efficient and affordable way—anywhere, at any time. We do this by providing high-quality professional pilot, flight attendant, flight coordinator, maintenance, and line service training modules delivered via the web using a world-class online aviation training system. Visit aircrewacademy.com to learn more!
--
Tim Pope is a CERTIFIED FINANCIAL PLANNER™ and a pilot. His financial planning practice provides services to aviation professionals and aviation 401k plans. Tim helps clients pursue their financial goals by defining them, organizing & optimizing resources, planning, implementing, and monitoring their financial plan. Visit https://link.21fivepodcast.com/timothy-pope to learn more. Check out Tim's new podcast: The Pilot Money Podcast
--
Employee Compensation Software That Answers "What's the Going Rate?"
The AirComp Calculator™ is business aviation’s only online compensation analysis system. It can provide precise compensation ranges for 14 business aviation positions in six aircraft classes at over 50 locations throughout the United States in seconds.
--
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.