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When you need insurance for your personal, business or commercial aircraft, you need an aviation policy. Aviation policies can cover both the craft itself and the liabilities that the owner(s) could conceivably face.
Hull Insurance
With hull insurance, you can count on coverage for physical damage to your craft. This includes damage obtained while in the air or on the ground, and while the craft is not in motion. The coverage extends to the craft’s engine, controls, navigation and computer equipment as well as the hull itself.
Generally, these policies will not cover any lost or damaged personal effects on board, but liability insurance may offer some coverage for passengers’ lost, damaged or stolen items. Policies will have a deductible that is either a set dollar amount or that is based on a percentage of the loss.
Aviation Liability Insurance
Liability insurance for your aircraft covers the bodily injury of non-owners such as visitors and passengers. It also covers the property damage a non-owner might experience as well as medical payments for injuries obtained onboard.
Specialized Coverage
If the aircraft is used for business purposes, then corporate aviation insurance should be obtained to protect the company’s property. If the craft is used for commercial trips then commercial aviation is needed to help protect both your business and your customers. Some may find that they need additional coverage for the type of services they perform (such as law enforcement or emergency medical services) or the cargo they haul. Additionally, certain aircraft, such as helicopters, may need specialized coverage.
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