Aviation Insurance

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.

What Is Aviation Insurance?

Aviation insurance is a specialized type of coverage designed for aircraft owners, pilots and aviation-related businesses. It addresses the unique risks that come with operating in the air, from physical damage to an aircraft to liability arising from accidents or incidents. Because aviation carries a distinct risk profile compared to other industries, standard business or personal insurance policies typically do not extend to aircraft operations.

How Does Aviation Insurance Work?

Aviation insurance generally combines two main components: coverage for physical damage to the aircraft itself and liability coverage for bodily injury or property damage caused to others. Policyholders typically pay a premium based on factors like the type of aircraft, how it is used, the pilot's experience and where it operates. When a covered loss occurs, the policyholder files a claim and the insurer evaluates it against the terms of the policy. Residents and businesses in Plainview, NY can work with an agent to find a policy structure that fits their specific aircraft and operations.

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.