- August 13, 2021

Here’s What You Need to Know About Aviation Insurance

The finest insurance is the insurance you never have to use. That may be true, but if you follow these procedures, you should have more confidence that your insurance will cover you in the event of an emergency.

The insurance will cover any individual specified as an insured under the policy, as well as pilots who fulfil the “open pilot” requirements, assuming no exclusions apply. Each pilot flying the aircraft, whether named,insured or qualifying under the open pilot option, must have the required pilot and medical certifications, as well as fulfil all currency criteria for aircraft operation.

The open pilot clause of your aviation insurance policy offers coverage to a pilot flying your aircraft who is not a listed insured on the policy. The clause specifies the total time, time in type, and training criteria that must be met by the unidentified pilot in order for it to be covered by the insurance. In general, if those conditions are satisfied and the pilot is flying your plane with your permission, your insurance coverage should cover him.

Exclusions in aircraft or aircraft hangar insurance will be included in your aircraft policy. Exclusions are situations in which your insurance provider will refuse to provide coverage for the operating of your aircraft. Exclusions in an airplane insurance coverage are generally both particular and generic.

When you accept additional liability (for example, when you sign a contract that indemnifies or holds someone else harmless for damage they do), damage to your own property, or injury to members of your family, specific exceptions apply. Your personal medical expenditures or the operation of an aircraft that you do not own may be explicitly excluded from the insurance.

The intricacies of airplane insurance may be intimidating. However, what can you do to safeguard yourself? Reading your insurance policy is the first and most critical step you can do. If you have any doubts about the terms or coverage, speak with your insurance agent or a lawyer who specializes in aviation insurance.

Once you’ve grasped the policy’s gist, make sure you follow it and adhere to its terms and conditions. It makes no sense to spend a lot of money on insurance premiums only to jeopardize your coverage by doing or doing something that your policy forbids.

After then, make a record of your operations. What exactly do I mean? Simple: Keep meticulous records. Make sure your pilot logbook is current and up to date. Make copies of the pages in your pilot logbook that show you’ve met the currency criteria and store them in a secure location if you carry it with you when you fly.

Finally, the identical method should be followed for your aircraft and engine logbooks. Make duplicates and keep them in a secure location if you must take them on the plane. Instead of only the pages indicating the aircraft’s present airworthiness, you might wish to create a full set of copies of the logbook entries in this case. A plane with complete logbook entries for all of the work it has ever had done on it is worth more to a potential buyer than one with partial or missing records.