HANGAR AND PROPERTY INSURANCE
Property coverage for your hangar and its contents, including mechanic's tools and mobile equipment. Airport buildings and their contents are unique exposures that demand expertise to be covered properly.
Whether you need to store your own personal aircraft or you work as a fixed base operator (FBO), if you own an airplane hangar you will need to insure it and protect your assets by purchasing the proper insurance coverage.
Hangar Keepers Insurance
Hangar keepers insurance is a specialized type of liability coverage created for owners of airplane hangars who allow third-parties to keep their planes in their care. An FBO who offers parking and storage services to clients is an example. Hangar keepers insurance provides coverage for others' property while it is in your care, custody or control for purposes of storage, repair or safekeeping. Hangar keepers insurance policy provides coverage for damage, court costs, legal fees and other related financial losses in the event of a liability lawsuit related to damage to airplanes in your care.
Other Coverages in Hangar Insurance
When building your airplane hangar insurance plan, you can supplement your hangar keepers insurance with a number of different kinds of policies. The types that are right for you are dependent on how you use your hangar. We may recommend include the following:
Hangar structure insurance: Hangars, with their lightweight construction, are vulnerable buildings. They are particularly susceptible to wind damage, so it is important that you have good property insurance to cover damage to the structure. You may need to add windstorm insurance based upon your location.
Business property insurance: covers the property kept inside your hangar, such as tools and machinery. This insurance does not cover airplanes or vehicles if one of them is damaged while in your hangar. You can obtain coverage for your airplane while it is in the hangar by adding ground risk hull not in motion coverage to your airplane insurance, and you can cover your vehicles by adding comprehensive coverage to your auto policies.
General liability insurance: A general liability insurance policy provides coverage if a third-party is injured or suffers property damage while in your airplane hangar. This coverage is part of your commercial insurance policy if you use your hangar as part of an FBO service business.
Auto liability insurance: If you have an FBO that provides shuttle services you may need a sufficient auto insurance policy as part of your aircraft hangar insurance plan.
Pollution liability insurance: Storing fuel or other combustibles in your airplane hangar runs the risk of an accident in which chemicals pollute the air, ground or groundwater. Pollution liability insurance covers the damage and cleanup costs.
Necessary extra expense insurance: Coverage for when a covered event damages your hangar and you must rent another space for your plane while repairs are made.
Loss of revenue insurance: This coverage provides a temporary continuation of income if your hangar is damaged by a covered event.
We can help you decide which types of coverage are important for your business.