Some organisations can struggle to obtain cover in the normal insured solutions and may need a greater level of support in aviation insurance as it falls under specialty insurance category.
Sharing the knowledge of brokers in over 90 countries and over 7000 employees across every business type and sector we are able to draw on an unmatchable level of experience and knowledge. Our team will always work to locate the right solution and structure a program of affordable benefits obtaining specialist insurance where available or suggesting suitable funding solution.
Aviation insurance is 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.
In the world of aviation insurance, there are several different options available depending upon the needs of the client.
There are different types of insurance that offer a very specific type of coverage and it is important to understand the differences between each type:
This is a type of aviation insurance that covers a plane for damages occured while the plane is in motion. It is typically the most expensive type of insurance since most accidents happen in the period that it covers.
GROUND RISK HULL (NON-MOTION) INSURANCE
This type of insurance covers a plane for damages sustained while it is on the ground but not in motion. This would include damages from crime, natural disasters, animals, and uninsured aircraft occurring when the plane is grounded and not in motion.
Some examples of potential causes of damages covered by this type of aviation insurance:
vandalism, weather conditions, theft, damage caused by animals, damage from uninsured vehicles or aircrafts...
GROUND RISK HULL (MOTION) INSURANCE
This type of insurance is similar to Ground RISK non-motion insurance except that it covers damages occurred while the plane is on the ground and in motion. This typically includes damages sustained during take off of the plane.
PUBLIC LIABILITY INSURANCE
This type of coverage is often set by law in many places. It provides insurance for damages that occur to third-party entities and property. This type of coverage does not pay for damage done to the plane or to passengers in the plane.
PASSENGER LIABILITY INSURANCE
This type of coverage is for certain types of pilots and planes. It provides insurance for any passengers in the plane while the policy holder is operating it. Passenger liability insurance provides money for injuries and final expenses in the event of a fatality.
COMBINED SINGLE LIMIT
This is a combined policy of that includes both the passenger and the public liability covers and would have a fixed limit per payout per accident occurred.