AVIATION INSURANCE

Aviation Insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation Insurance policies are distinctly different from those for other areas of transportation and tend to incorporate aviation terminology, as well as terminology, limits and clauses specific to aviation insurance.

AVIATION INSURANCE IS DIVIDED INTO SEVERAL TYPES OF INSURANCE COVERAGE AVAILABLE.
  • Public Liability Insurance, is often referred to as third party liability insurance. It covers aircraft owners for damage that their aircraft does to third party property, such as houses, cars, crops, airport facilities and other aircraft struck in a collision. It does not provide coverage for damage to the insured aircraft itself or coverage for passengers injured on the insured aircraft. Public liability insurance is mandatory and is usually purchased in specified total amounts per incident, such as $1,000,000 or $5,000,000.
  • Passenger Liability Insurance, protects passengers who are injured or killed while riding in the aircraft. Coverage is often sold on a "per-seat" basis, with a specified limit for each passenger seat.

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  • Combined Single Limit Coverage (CSL), combines public liability and passenger liability coverage into a single coverage with a single overall limit per accident. This type of coverage provides more flexibility in paying claims for liability, especially if passengers are injured, but little damage is done to third party property on the ground.
  • Ground risk hull insurance not in motion, provides coverage for the insured aircraft against damage when it is on the ground and not in motion. This would provide protection for the aircraft for such events as fire, theft, vandalism, flood, animal damage, wind or hailstorms, hangar collapse or for uninsured vehicles or aircraft striking the aircraft. Most hull insurance includes a deductible to discourage small or nuisance claims.
  • Ground risk hull insurance in motion (taxiing), coverage is similar to ground risk hull insurance not in motion, but provides coverage while the aircraft is taxiing, but not while taking off or landing. Normally, coverage ceases at the start of the take-off roll and is in force only once the aircraft has completed its subsequent landing. Due to disputes between aircraft owners and insurance companies about whether the accident aircraft was taxiing or attempting to take-off, this type of coverage has been discontinued by many insurance companies.
  • In-flight insurance, protects an insured aircraft against damage during all phases of flight and ground operation, including while parked or stored. Naturally, it is more expensive than not-in-motion coverage, since most aircraft are damaged while in motion.

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