Description
Hull insurance is coverage for the physical damage done to an aircraft.  Coverage exists whether the airplane is on the ground or in the air. The insured amount should be the cost of replacing the aircraft.

Statistics
Hull Claims are quickly determined and settled.  The number of total losses remains fairly steady despite the large increase in airplane travel.  As of yet, there has not been a hull loss near the maximum insured value. 

Questions to ask an expert
  •  How do I determine the proper insured value for my aircraft?
  •  What is the industry standard on how much of a deductible is expected to be paid
  •  Will my insurance cover me outside of USA, Canada and Mexico
  •  Would my coverage cover damages to my airplane if another pilot was flying the plane
  •  Does my coverage cover damages to a third party’s airplane that I fly

General Tips
  •  Hull insurance needs are easy to assess since you can basically estimate your potential loss – the aircraft However be careful no to overvalue the aircraft as it will cost more in premiums than is necessary or that will be paid back in case of loss. Do not   •    •    •  Undervalue the aircraft to reduce premiums because it opens the owner to the risk of getting less than adequate compensation.
  •  Although hull insurance is not mandatory, it is highly recommended since circumstances can occur, beyond anyone’s control, causing damage to the airplane
  •  You could get coverage for damages, resulting from wars, strikes, terrorism, hijacking, sabotage and others. if you add war risk and related risks to your policy
  •  Analyze insurance quotes and decide which one best suits you

Books and Publications
  •   Introduction to Aviation Insurance and Risk Management, Second Edition (Hardcover)