Longtime insurance agent comments on issue

Chuck Wenk, a second-generation aviation insurance broker, told us recently that liability coverage for residential airparks and individual homes is readily available from a wide variety of companies. How the property is managed becomes the major key in getting the coverage and the rate required.

Located in Highland Park, IL, Wenk said his company was started by his father and today includes his own offspring, thus making it a 3-generational insurance agency providing a full range of coverage. He claimed his firm, Wenk Aviation Insurance, is the oldest aviation insurance firm in the country. The firm is licensed to sell insurance in every state except Hawaii and Alaska, he added.

Most residential airparks are securing liability coverage of $1 million although he has written policies as high as $10 million. Wenk reported that there is no “average” figure for liability coverage. “Every situation is different,” he explained. “Does the airpark sell fuel, is there a maintenance facility, are the homes fenced from the runway, can kids get to the airplanes, etc., are all questions that the insurance underwriter wants to have answered,” Wenk added. He said the premium for the insurance coverage depends on the answers.

“We’ve written $1 million liability policies for as low as $850 and as high as $21,000,” he stated.

You can reach Went Aviation Insurance at 1-800-225-WENK.