The process of acquiring aircraft always involves insurance considerations and often includes consideration of financing options.
We have developed a process to shop our clients finance and insurance needs to the top providers in our industry to provide them the best rates and terms. This combined with our experience helping hundreds of other clients becomes a strategic value to our customers.
Our Financing Process
During the consideration phase of your aircraft purchase we will discuss your ownership structure options and help you understand the general nature of the finance options available for each approach. For example, financing for commercial use (leaseback) is different than personal use. If we determine that financing is likely to be an option that might be used in our purchase plans we will initiate a finance application to obtain “pre-qualification” for financing. You will be provided a simple application and request for specific financial information that will be processed privately by our in-house specialist. We will provide our lenders the details of the possible aircraft types you are considering and shop your opportunity to our top aviation lenders to see which one will give you the best rates and terms for your purchase.
Since we work with these aviation lenders routinely and we know your plans and objectives well by that point in time we are able to represent your interests favorably in this process. In many cases we’ve been able to help clients obtain financing and terms that they would not have received without our involvement.
With our pre-qualification in hand we can then confidently proceed with our acquisition plans and smoothly complete the process. Our clients are busy so one of the best benefits is our clients don’t have to go to numerous lenders filling out applications, engaging with numerous sources to shop the market for financing. We handle that for you and there is no charge for this service. We want the experience our clients enjoy working with LifeStyle to be a pleasant and efficient benefit to them.
1. Together we determine if financing might be an advantage for you
2. You Complete and return the simple finance application
3. We shop the market for you to find you the best rates and terms
4. Together we proceed confidently with your aircraft acquisition knowing your rates and monthly payments
Our Insurance Process
In the area of Insurance, again LifeStyle is different. Over the years we determined that to provide a “turn-key” service and ensure the best rates, it was essential to bring the process of shopping the insurance market directly into our acquisition process. First we obtained our insurance license so we could create relationships with agents and companies that could best serve our clients. We have access to all insurance products from trainers to turbines to FBO’s and Flight School policies. In the case of our Diamond Aircraft we were able to gain preferential access to the Diamond Insurance Program and this has proven to be a significant benefit for our clients. Our agency partnership provides each of our clients a seasoned aviation insurance veteran to shop and quote their insurance among all the providers. Due to our volume and involvement in this process we can typically provide our clients estimates of what their insurance ranges will be without actually going to quote to help facilitate early stage planning. Though we can obtain quotes at any time in the process we typically perform the insurance quote process after the aircraft being purchase is under contract because we then know all the exact details of the year, make, model, value, location, hangar or tie down and the actual pilots times and ratings.
The Diamond Insurance Program provides our buyers of Diamond Aircraft exclusive access to special insurance rates and benefits.
Insurance for Flight Centers
In our development work with our Flight Center partners, we review their insurance to see if there are opportunities to enhance their situation. One benefit we often bring to our flight schools is the potential for paying their fleet policy on a monthly reporter. This allows the school the flexibility of adding and deleting aircraft on a “pay by the day” basis. This keeps leaseback owners from needing to pay premiums all in advance and only pay for the coverage they use and need. We recommend our flight centers conduct a regular review of their insurance with us to make sure they are receiving the best possible benefits. If they operate Diamond Aircraft we will also see what special benefits they can enjoy through our Diamond Aviation Insurance Program.