Aircraft Insurance

Aircraft Insurance California

Aircraft insurance California is one of the most important things you should consider as an aircraft owner. Whether for business or leisure, make sure that you protect your plane from risks. Aircraft insurance covers the operation of aircraft, including drones, and the risks involved in aviation. Getting an aviation insurance policy provides protection against accidents, theft, damage or other types of financial losses. It can also cover damage to your aircraft while not being used or stored in a hanger. Standard aviation policy coverage may include:

  • Liability for Private Airstrips in Airports
  • Excess Liability for managed aircraft
  • Workers’ Compensation for Pilots and Crew
  • Private Aircraft
  • Hull and liability
  • Excess Liability for fractional ownership on aircraft

If you’re renting a plane or borrowing from a friend, it is wise to buy your own Non-Owned Aircraft Insurance. Non-owned aircraft insurance, sometimes called aircraft renters insurance protects you from legal obligations that may arise out of operating an aircraft you do not own. Aircraft owner’s policy does not provide coverage to protect you in case of an accident. Instead of relying on their insurance, it is safer to acquire non-owned aircraft insurance to address the risk that unlikely, but extremely damaging, events may occur.

Understanding Aviation Insurance

Insurance of any type is designed to protect. Whether you drive a car, insurance is mandatory by law, or if you’ve purchased a home, insurance is necessary to protect your investment. If you own or operate any aircraft, you need airplane insurance to protect your finances. When buying airplane insurance, there’s a lot to consider. You need liability insurance to cover bodily injury and property damage for the passengers in your aircraft. Most states require a minimum amount of liability that needs to be carried and the amount varies from state to state.

Property coverage covers the hull, instruments, radios, autopilots, and miscellaneous equipment. These items can be expensive to repair or replace so you want to make sure that you’ve including some sort of protection in your policy to cover those costs. Owning and operating an aircraft is a major undertaking and comes with a large price tag. If anything happens to your airplane and you don’t have insurance, then you will likely lose your investment. Similar to cars, if you finance the purchase of an airplane, insurance may be mandatory from your lender. Your lender may require you to buy enough coverage to cover the value of your aircraft throughout the entire length of your financing contract.

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What Type of Aircraft Insurance California Is Right for Me?

Balloons, gliders, helicopters, gyroplanes, and traditional fixed-wing aircraft all fall under the aircraft umbrella. The terminology of these policies is often very specific to the aircraft industry. A consultation with one of our experienced agents can be instrumental in your decision and will ensure that you take on the proper coverage to meet your needs.

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