Prepare Your Flight Plan
Follow these three steps to get ready to buy aircraft insurance.
We suggest you interview several brokers before and choose your insurance partnership wisely.
Set a Training Plan
Your flight training doesn't end with your pilot's license. We recommend regular proficiency training with a mentor pilot.
Build Your Time
We recommend at least 25 hours of flight experience before purchasing your aircraft.
Why work with us?
We specialize in helping private aircraft owners find the best insurance results they deserve by developing tailored buying strategies designed to ease an insurance company's perception of risk.
We are pilots with a strong network of underwriters ready to source the best aircraft insurance solutions for you.
Invest More Time
We take more time to understand the realities of what your risk exposures truly represent to insurance companies.
We are not tied to commissions. We would rather do what's right than follow the industry status quo.
Hear what our customers are saying
A Refreshing Change
The word "visionary" are often overused, but is accurate. DF Steer is not afraid of the status quo or of thinking big about how to make things better, how to do things differently, how to help. I wish there were more brokers like DF Steer.
dominic orsler // PHD
We've engaged DF Steer to explore options for insurance. They provide some of the highest level advice we've received. Their out of the box thinking and ability to reach out to a wide network to find unique solutions confirms their integrity.
Darryl Stanier // President & CEO
DF Steer finds ways of servicing customers and bringing new and better experiences for these customers both int he way they interact with their business, while building value propositions that work for both their clients and underwriters.
Chris Steves // CFO
Frequently Asked Questions
Going to several brokers to compare multiple quotes will rarely deliver the results you deserve. That’s because insurance companies will only deal with the first broker who approaches them with your application.
Aviation insurance rates are unregulated with no published rating tables. Evaluating aviation risk is often subjective, so if multiple brokers approached the same insurance company, that underwriter would select against themselves.
It’s best to choose one broker to canvas all aviation underwriters to negotiate as many quotes on your behalf.
With perhaps only a few insurance companies available to quote insurance for your aircraft, it’s important you choose your broker wisely.
We recommend choosing a broker with a proven background in the aviation industry, who has the knowledge as a pilot to anticipate the specific risks associated with your aircraft.
While some brokers may only have access to a few aviation insurance companies, we recommend choosing a broker who specializes in aviation insurance as they will have full access to ALL Canadian licensed aviation insurance companies.
That said, not all brokers specializing in aviation insurance are created equal. We recommend interviewing several aviation brokers to get a sense of their time investment in representing you properly.
Depending on the insurance company, insurance quotes are only valid between thirty (30) and sixty (60) days.
We recommend starting conversations ninety (90) days prior to requiring insurance to develop a proper buying strategy that will deliver the best results you deserve. Starting early will allow your broker to assemble the best quality data to prepare for submitting your information to insurance companies; sixty (60) days prior to your expected policy inception date.
This will allow your broker ample to time to canvas all available insurance companies who may be interested to quote your business and negotiate the best results you deserve.
The most valuable commodity to any negotiation is “TIME”.
Currently there’s about ten (10) insurance companies writing aviation insurance, and among those companies there’s perhaps only five (5) insurance companies with an appetite to write private aircraft owners.
Depending on your risk profile there may only be two (2) or three (3) underwriters with an appetite to insure your aircraft.
With only a few insurance companies writing aviation risks, our best advice is to choose your broker wisely as you’ll only get one chance to make a good first impression within an underwriter.
When selecting an amount for hull coverage, it is important that you make it equal to the fair market value of your aircraft.
The insurance company considers any damage equal to or greater than the coverage limit to be a total loss and will take your aircraft as salvage.
What does this mean to you?
Let’s say you have a $75,000 aircraft which you insure for only $25,000. You sustain damage to the aircraft, amounting to $30,000.
The insurance company will give you a cheque for only $25,000 and take your aircraft - all of it - as salvage!
We still have a little more work to do before we can give you an accurate assessment on what you should expect for hull rates, but for example, a high experienced pilot on make & model can typically expect a hull rate in the low 2% of the value of the aircraft they want to insure, while a low time pilot can expect hull rates in the mid 5% range.
This range in hull rating can be dramatic, and can have a significant impact on the premium you pay; so it's important you choose your broker wisely and have them develop a proper marketing strategy to ensure you receive the best results you deserve.
At minimum, we recommend purchasing a $2M liability limit; however, as an experienced pilot, we suggest you explore options up to as high as $20M. The additional premium for these higher limits may not be as expensive as you think.
Ready to Take Flight?
Let's develop a buying strategy that will deliver the best results you deserve.
Let us help you take flight!