Aircraft Sales and Parts

Here is an article on Aircraft Insurance that I thought was worth repeating...

Aircraft Loan and Aircraft Insurance - Ten Factors you Should Consider

Author: Dave Savoie

The joy of flying your own bird and providing yourself with a better transportation option are often the primary objectives of private aircraft ownership. To reach this objective most of us must deal with aircraft financing...and all of us need aircraft insurance.

Here are ten factors you should take into consideration in order to help avoid unpleasant surprises and be more certain you're getting what you want for an aircraft loan and insurance.

1.First, select a knowledgeable professional representative (aviation insurance broker and aircraft finance broker) who understands your aircraft finance and insurance needs and desires.

Aircraft Financing

2.Interest rate is always important know whether it is fixed or adjustable and what the loan period (length) is. Lenders offer many combinations. Understand the terms of the loan before signing.

Typically adjustable rate loans are tied to a published index check the history of the index to get a sense as to what the future may hold.

For those who anticipate only a short term need for financing, then the adjustable rate program often provides interest savings over the fixed rate option.

For those who plan to retain their financing for a long period of time, the fixed rate option provides stability and piece of mind.

3.Loan term and amortization schedule the longer the amortization schedule the easier it will be to make the required monthly payments.

Pay attention to the aircraft loan term, which can be much shorter than the amortization schedule.

4.Fees and Loan Costs understand the total cost to close a loan.

5.Points lenders often offer the ability to "buy down" the interest rate on an aircraft loan exchanging up front points to reduce the interest rate.

One point is equivalent to 1% of the loan amount. Depending upon how long the aircraft loan is outstanding determines the true interest paid when points are involved. The shorter the actual loan life the more of an impact the point has on the effective rate of the loan.

6.Prepayment before signing understand the restriction regarding prepayment of a loan, either in full or in part.

7.Servicing your aircraft loan payments may be to another company rather than the one who is taking your loan application. It is important to understand who will be servicing your loan after it closes.

Aircraft Insurance

8.Aircraft insurance coverage addresses three main areas of concern liability, hull (physical damage), and medical.

Liability coverage is provided either in a comprehensive manner ("smooth coverage") or with sub-limits (per passenger, per person, or family member limitations).

Hull coverage covers physical damage to the aircraft and is an "agreed/stated value" between the insurance company and the insured.

The medical portion is "no-fault" coverage offered as a supplement to standard medical insurance for medical expenses not typically covered otherwise.

9.Obtaining the best aircraft insurance coverage for the least cost can be achieved by maintaining currency, frequent flying in the insured aircraft or similar, participating in recurring training, advanced ratings (particularly instrument), an accident free history, complying with all regulations, etc.

10.Honesty is the best policy. It is important to provide accurate and complete information on the application requested by the insurance company verification of all pertinent information will most likely occur before settling a claim.

Article Source: http://www.articlesbase.com/insurance-articles/aircraft-loan-and-aircraft-insurance-ten-factors-you-should-consider-76597.html

About the Author:

Dave Savoie is the Manager of US Aircraft Finance and Insurance http://www.usaviationfinance.com
. His company is a culmination of his two careers 35+ years as a career banker managing both personal and commercial lending nationwide and US Air Force pilot now retired. For more information on aircraft insurance, visit http://www.usaviationfinance.com/insurance-overview.htm

With all the recent aviation inspections and the FAA cracking down on American Airlines, it makes me wonder how safe it is these days to fly. I guess it is still safe. It does cause me to want to understand more about why these things happen. I mean, to me, the people who stand to lose the most are the Airlines, if an accident does happen. Especially, if it was from negligence on their part. I sort of expect this one thing to encourage them to be safe. The more I read about the American Airlines “wire bundles” the more I believe it was more a bureaucratic FAA official following some arcane set of rules than it was a real threat to aircraft safety. Apparently , American and everyone else was made aware of the rules for the wire bundles about 4 years ago, and the directive as to how to fix it was sent out in 2006 by the FAA. It seems the FAA didn’t like the way American interpreted the required fix. You can read more about this angle here at the Salt Lake Tribune.

I think that we really don’t know all the details so it is hard to judge, but I believe we are still safe flying in the US. I am not as thrilled about other countries and their safety or lack of safety. Every time I have to fly to Europe, I feel a little less safe. Maybe it’s just me.

What do you think? Are we safe as ever flying the friendly skies?

I guess a better question is, how will the new administration view our safety.  I am not sure we will be as safe when Bush leaves.  He did a lot of strange things in his presidency, but he did fight terrorism.

I am always amazed at the confidence pilots have in their equipment, though.  I suppose the reason is , they know it very well and have good reason to be confident in it.  Hopefully, some of you enthusiasts will find some good aircraft parts to buy on this site. Save some money and get that old reliable part that you can count on.

Scientists have completed the first ever series of flights by autonomous unmanned aerial vehicles in Antarctica. This is the first time that unpiloted UAVs have been used in the Antarctic and the successful flights open up a major new technique for gathering scientific data in the harshest and remotest environment on Earth.

Engineers are developing a technology to coat jet engine turbine blades with zirconium dioxide -- commonly called zirconia, the stuff of synthetic diamonds -- to combat high-temperature corrosion. The zirconia chemically converts sand and other corrosive particles that build up on the blade into a new, protective outer coating. In effect, the surface of the engine blade constantly renews itself.

Researchers have developed a wide-angle camera that will be able to provide security forces with the ability to monitor large areas through high-resolution images taken from a satellite or an airborne craft. If you point a large number of lenses toward a common point, and then make a small correction on each of the lenses, you provide a camera with capabilities that far surpass existing technologies.