Do You Need Aviation Insurance?

Aviation insurance is a unique type of insurance coverage that most people will not deal with in their lifetime. However, if you lease or own a private aircraft such as a plane or helicopter, you will need this vital insurance coverage to protect yourself, your fellow travelers, and your own and others’ property.

Covered in the Skies

There are a few common coverages involved in an aviation insurance policy. Aircraft Hull is a policy that protects the aircraft property itself in case of damage or loss. Such policies will vary widely depending on the type and style of aircraft, the cost, where it will fly, and whom it will carry. Your broker can help you to understand the associated risks for your specific situation, so you can choose the right aviation policy for your needs. Aircraft hull coverage will pay for damages and repairs to your aircraft property if an accidental incident occurs, usually during common risk scenarios such as flight and taxiing or through typical ground risks.

Liability is another type of coverage that is important in the aviation industry. Liability policies will vary greatly depending on your aircraft’s purpose. For instance, if you have a personal aircraft that is only used to transport yourself and your family, your policy will be different than that of a charter pilot or a major airline that regularly ferries paying passengers.
Essentially, aviation liability coverage will protect you from being liable for all medical bills or payments should a passenger be killed or injured while flying on, boarding, or disembarking your aircraft. These policies may also include passenger property such as baggage, so you can be covered in the event of lost or damaged personal items.

Third party insurance is yet another option in which most aviators should invest. This type of policy regards external property damage and bodily injury liability for third parties. Should your aircraft experience a crash and cause damage to a third party’s property, this policy will cover you for such expenses as may be incurred.

Working With a Broker

Did you know that our team at Macey Insurance Brokers has years of experience with insurance for aircraft and aviation related risks? Whether you’re new to the aviation field or a long-time veteran, you can use the guidance of a knowledgeable broker when it comes to selecting your policies. At Macey’s, we care about our clients, and want to ensure your maximum protection with all types of insurance. Contact us today for more information on aviation insurance services and to learn what we can do for you.

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