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.
Coverage
under this insurance:
Numerous options exist for hull
insurance and they can cover both
air and ground operations at a
variety of prices. In addition,
hull insurance would cover equipment
attached or carried on the plane
like the engines, wings and radios..
The standard aviation hull insurance
policy does not cover the damages,
resulting from wars, strikes,
terrorism, hijacking, sabotage and
others, The premiums are higher for
coverage of an airplane in motion
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
partys 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 anyones 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
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