A number of owners own two or more aircraft but can, clearly, only fly one aircraft at a time. A “one up, one down” policy ensures offers an owner a slight discount on the equivalent cost of arranging two (or more) policies. Calculating the discount varies, but a policy with this option should offer an overall discount of between 10 – 15% depending on aircraft values and liability limits.
This option can only be applied to a policy where there is only one named pilot on the policy.
If an owner has more aircraft, a fleet policy may offer a better overall discount, although it is worth getting a quote for both options. Fleet policies are generally offered on “fleets” of 3 or more aircraft. The primary advantage of a fleet policy is the bulk purchasing discount offered. It is not automatically necessary for all the aircraft to be insured on the same basis, to obtain the benefits of a fleet policy.