Insurance is a challenging but necessary component of the aircraft purchase process. If you are an aviation professional, for example, insurance companies typically set the requirements and premiums based on your experience as a pilot and the type of airplane you plan to purchase. While you may want to put off obtaining insurance until the last minute, it will do you good to carry out the task sooner rather than later.
“Purchasing an aircraft for sale is a large financial commitment, making it a decision that should never be rushed into. Before you start browsing through lists of available aircraft, make sure that you are fully prepared for ownership. That in mind, here are a few tips to help you make the best business decision:
First off, you should look for an experienced management team. These professionals can help you by regularly maintaining your jet, hiring a pilot and flight crew, and handling all the accounting responsibilities related to your aircraft. This frees you up for the biggest task: namely, finding the jet that meets your business needs.”