Over the past 25 years we have developed an in-depth knowledge and understanding of what general aviation owners and operators need regarding insurance. It is probably fair to say that we have been asked almost every conceivable question about general aviation insurance over the years – and we have a strong track record of delivering aviation insurance solutions for our clients.
With clients in many countries around the world we have a breadth of experience covering most countries, but plotting a route through local aviation and insurance regulations can be complex and we cannot guarantee to assist every owner or operator.
We actively support flight safety campaigns including working closely with the UK General Aviation Safety Council, promoting safety awareness evenings for all pilots in the UK.
Insurances to consider
Liability insurance essentially provides cover against loss, damage or injury to third parties which include passengers, cargo, mail and baggage. Although different insurers may offer slightly different policy limits and definitions, they do not generally provide cover for the pilot in command (of an aircraft) or the actual aircraft.
You must also carry evidence of this insurance onboard the aircraft at all times.
It is a legal requirement for any aircraft flying in the UK to have a minimum amount of liability insurance, as required by EU legislation. The minimum insurance requirements are set out in Regulation EC785/2004. This legislation applies to all EU countries and similar regulations apply in most other countries worldwide.For information on the EU limits, visit www.caa.co.uk.
A hull insurance policy indemnifies a loss or damage to your own aircraft.
Hull insurance policies are generally arranged on an agreed value basis, where the value of the aircraft is agreed in advance. In the event of a total loss, insurers pay out the agreed value, rather than the current market value.
It is important to set a realist agreed value sum insured. If you choose a value below the true value of the aircraft, at the time of a loss, an insurer may, decide to declare the loss uneconomical to repair and pay the claim based on the agreed value. This payment may not fairly reflect the cost of replacement. If you, however, overvalue your aircraft, insurers may elect, when you suffer a significant loss, to repair the aircraft rather than "write it off' even if you wish, to have the aircraft declared a total loss.