|
Aircraft liability coverage is designed to cover
bodily injury and
property damage to whom you may be held legally liable. Many factors
are involved in choosing the proper limit of liability for your
operations. You should know your liability coverage limits and consult
us to add additional protection. Note that in the event of a claim, you
and anyone listed as additional insured will share the liability limit.
Increasing your liability limit is recommended if you add an additional
insured to your policy. Your liability coverage does not cover bodily
injury to you, your employees or contractors, and it does not cover
property damage to property owned by or leased to you.
Air travel in turbine aircraft with a professional
crew is generally considered the safest form of travel in the
world. Aircraft liability insurance for this type of risk is
therefore easy to obtain and relatively inexpensive for the
insured. Purchasing an aviation insurance policy including
hundreds of millions of dollars in aviation liability insurance
coverage is currently possible at a relatively low cost.
Underwriters will review the risk and base the amount of aircraft
liability insurance available on underwriting guidelines.
Some of the underwriting factors include the make and model of
aircraft, crew experience and training, loss history, and current
reinsurance market conditions.
Aircraft liability insurance for personally flown
turbine and piston aircraft with an owner pilot using the aircraft for
personal travel may be slightly more expensive. Higher limits
of aviation liability insurance coverage may be available but in many
cases the limit of liability may be capped between $1,000,000 and
$20,000,000. The amount of aviation liability insurance
available for the owner flown aircraft will depend on the underlying
insurance company quoting, the owner pilot’s experience and training,
and the reinsurance market at the time.
Purchasing an aviation insurance policy including
higher limits of aviation liability insurance can be
challenging. It is important to work with an insurance broker
who understands the risk and the marketplace to help create the best
aviation insurance policy for your specific aviation liability
insurance needs.
Fill
out our Quick Quote form today with a little information
about
your business, aircraft, and flying operations and we’ll get you
competitive insurance quotes from our top-rated insurance partners and
offer you expert advice on liability limits that will protect you and
your business.
|
