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Insurance for piston,
single-engine aircraft is generally the least expensive and most easily
attainable aviation insurance coverage available. Compared to other
types of coverage, single-engine aircraft insurance rates are extremely
low, even lower than insurance for many automobiles. The value of the
aircraft is a major factor in determining the premium, so an airplane
with a lower value will generally cost less than one insured for a
higher value. Insurance rates will vary depending on the
value, performance, repairablity and complexity of the aircraft and the
experience of the pilot.
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 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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