Business and Corporate Fleet Insurance
Also known as "Industrial Aid", with professional pilots operating turbine equipment, corporate aircraft has long been viewed by the aviation insurance underwriters as the premier risk. We understand the unique insurance needs of corporate aircraft owners. Regardless of the size of your fleet and the aircraft you own, we can help you ensure your aviation assets, and your flight department itself, are properly protected.
Personal or business travel can take you all over the world and in various types of aircraft. We have the capability to insure single engine airplanes, helicopters, and transcontinental business jets under one insurance policy. Anywhere from $1M to $500M in liability and $100K to $100M hull limits per aircraft. We can insure any flight department, regardless of size.
In addition to the fleet, you also need to consider:
- Hangarkeepers Coverage
- Workers Compensation
- Premises Liability
- Hangar Coverage
- Fuel Coverage
- Pilot Loss of License Coverage
Every flight department offers unique challenges. Our experts can help guide you through the process to protect you and your business.
Elements of Coverage
Hull coverage: Cover damage and destruction to the physical structure of an aircraft, including its engines, when attached, or when removed and not replaced with other engines. Coverage excludes hull war risks (see below) among other things. The aircraft will typically be insured on an "agreed value basis," which means that it is insured for a fixed amount, which may not necessarily be the same as its replacement value or market value.
Hull war coverage: Covers the hull war risks that are excluded from the hull coverage above, such as damage/destruction caused by war or other listed hostilities. Some non-insurable exceptions exist, such as a nuclear war or a war between any of the United Kingdom, United States, France, Russia and China.
Hull deductible coverage: The hull deductible is similar to the excess on a car policy and applies to the hull coverage.
Spares coverage: Covers engines and other spare parts when removed from the aircraft and replaced (if an engine or part is removed but not replaced, it is still deemed to be part of the aircraft for insurance purposes and may be provided as a sub-section under the hull and the hull war coverages. A small deductible may apply.
Liability coverage: Covers all loss or damage to property, other than to the aircraft/spares, and all claims arising out of death or injury to any person caused by the aircraft and/or related to the use of the aircraft. War risks are excluded. Often the minimum liability limit is prescribed by law.
Liability war coverage: Covers the liability war risks excluded from the liability coverage. As with hull war cover, it also has certain non-insurable exceptions, such as nuclear war.