Twin engine airplanes have many significant
advantages over their single-engine counterparts: higher performance,
increased speed, distance, passenger and baggage capacity, and can fly
at higher altitudes. Another important benefit is that should you be
unlucky enough to experience a major engine malfunction, the other
engine should carry you safely to the nearest suitable airfield. This
can be particularly significant when flying over inhospitable terrain
or over water - particularly at night or in instrument conditions.
Safety in a
twin-engine airplane comes not from the extra engine itself, but the
pilot's ability to immediately fly correctly on a single engine at any
given moment. The increase in speed, range and number of passengers
that you have with a multi-engine aircraft is offset by it's complexity
and an increase in liability exposure for the corporation that owns it.
If you are a business owner
and pilot and you occasionally use your
aircraft for business, you probably just need a
“pleasure and
business” policy. A corporation will also qualify for a "pleasure and
business" policy if the aircraft is owned by the corporation and flown
by employees who are also pilots.
If the corporate multi-engine aircraft
is flown
by professional pilots and crew, it would need an “industrial aid”,
also known as "pro-flown", policy. A professional crew flying
well-maintained aircraft on business missions for executive and
employee transportation has historically proven to be one of the safest
risks in the industry. Industrial Aid policies will generally contain
the broadest coverage for the lowest rates.
In either case, a
corporation would
most likely need much higher limits of liabilty to protect the
corporation's assets, which may require an
excess liability policy. A commercial umbrella
policy rarely
covers everything, and most often contains exclusions for aircraft and
watercraft.
As aviation insurance specialists, ZANETTE
will help
you navigate the ins-and-outs of aircraft insurance. Aircraft insurance
policies are written using language unique to the aviation industry:
FAA language differs from insurance policy language, requiring an
aviation specialist to assist with placing the appropriate coverage for
your business 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.
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