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INSUR ANCE INSIGHT 48 AUGUST/SEPTEMBER 2016 AIRCRAFT MAINTENANCE TECHNOLOGY tools. This may be time consuming at first (especially if you have not done this before) but is easier over time as you add tools to the inventor y list. I recommend keeping this list in a plastic sleeve on the side of your tool chest or electronically so it is readily accessible through your mobile device. At the ver y least, you should take a picture of the contents in your toolbox. Once you have your inventor y list, complete with replacement cost values, ask your aviation insurance broker for a quote. They should shop multiple insurance companies for you to make sure you have the best pricing and coverage combination. WHAT DOES IT COVER? Proper ty policies are intended to cover against damage or theft of the physical proper ty scheduled on the policy. The policy will typically cover any accidental damage, as well as theft as a result of violent or forcible entr y. Some policies will also cover mysterious disappearance. These types of policies usually provide either a specific blanket monetar y amount of coverage for all or selected types of tools and equipment, or coverage of a nominated value for individual items — or a mixture of both, depending on your needs. However, policies will var y between insurers. Since tool coverage covers a broad array of tools, this form of coverage is usually provided on an unscheduled "blanket" basis. In other words, it is not necessar y to schedule ever y socket on the policy. HOW DO I KNOW IF I NEED IT? As always, the best way to determine what is most appropriate for you and your business is to speak with an aviation insurance professional. Make sure you speak to someone who has access to all aviation insurance companies, and is familiar with mechanics and maintenance operations. These types of professionals will be able to assess the specifics of your situation and then make an informed recommendation about what insurance policy is best for you. They should also be able to make recommendations on which insurance company is best suited to your needs. Ask lots of questions — having clarity on the ins and outs of insurance related to your business will only enhance your ability to make the kinds of decisions that can help make sure you are covered and the tool drawers are full. Safety Equipment • Protect employees from injuries • Prevent costly hangar damage • Exceeds OSHA & military standards • Triple safety redundant features Online test videos Now available for 42" tires TOOLS & EQUIPMENT DESIGNED BY MECHANICS FOR MECHANICS • Helps prevent back injuries and aircraft damage • Low profile design elminates clearance issues • For wheel diameters from 25" to 40" up to 350 lbs • Converts to brake dolly with optional attachment H e l p s optional brake dolly attachment GSE | Tooling | Aircraft Parts Tire Inflation Cage Hydraulic Wheel Dolly www.AlberthAviation.com 832-934-0055 BORESCOPES - VIDEOSCOPES - ENGINE KITS PRATT & WHITNEY CANADA APPROVED KITS GOOD FOR USE IN ALL ENGINE MODELS OVER 40 YEARS OF INDUSTRY KNOWLEDGE WWW.MACHIDA SCOPE.COM VISIT US AT NBAA BOOTH 1448 1-800-431-5420 - 1-845-365-0600 40 Ramland Road Orangeburg NY 10962 AviationPros.com/company/10016971 AviationPros.com/company/10134601 AviationPros.com/company/10134757 STEVE BRUSS is president of Wings Insurance, an independent aviation insurance broker headquartered in Minneapolis, MN. Steve has 22 years' experience in aviation insurance, and is also a licensed Commercial pilot and flight instructor. He can be reached at sbruss@wingsinsurance.com or by calling (952) 641-3140; www. wingsinsurance.aero .