Whether you are a commercial pilot or someone who flies recreationally, one thing is always the same: You are in control of a very sensitive, expensive and potentially dangerous machine. Airplanes have to perform optimally to be able to fly, which is why damage is not something that any pilot wants to think about. However, the fact of the matter is that damage might occur both on the ground and in the air.
If your plane sustains damage, then you of course have to repair it. However, since repairs can be expensive, you’ll want to have resources available to help you out. Quality aircraft insurance, namely hull insurance, can pay to help you with the repairs. Therefore, you won’t lose your plane just because you cannot afford to repair it alone.
There are many different hull coverage options on the market, but three of them are the most common: Not-in-Motion Ground Coverage, In-Motion Ground Coverage, Inflight (Full) Coverage. Each has its own benefits, so talk to your agent about which one is best for you.
Let’s take a closer look at these benefits:
Not-in-Motion Ground Coverage
When you park your plane, it isn’t much different from parking a car. Whether in a hangar or stored in outdoors, your plane faces damage risks. These might be fires, floods, falling objects or even vandalism risks. Some plans will even cover damage done by a hangar that collapses. This coverage can help you pay to repair or replace the plane.
In-Motion Ground Coverage
Since airplanes are vehicles, they are susceptible to collisions. This is especially true when they are on the ground and in close proximity to other aircraft, ramp vehicles and stationary objects. Damage from even a minor collision might prove expensive, even if it doesn’t look that bad up close. Your in-motion ground coverage can help you pay to repair the craft.
If your plane sustains damage inflight, then this can be a very scary situation. It’s important to remember that the air is not always clear, and damage doesn’t have to result from a mid-air collision only. Hail, lightning, bird strikes and even internal issues could damage the plane. Of course, your priority must be to return to the ground safely. However, once you get back to the ground, you can use this coverage to make the necessary repairs.
One interesting thing about inflight insurance is that many insurers offer it as an all-of-the above benefit. It might include not only coverage for in-flight damage but also in-motion and stationary damage. While this might make your plan a bit more expensive, it is often much easier to manage than three separate types of coverage.
To tailor your plane’s insurance to your benefit, you will have to make sure it includes the right coverage to protect your aircraft’s value. Our agents will work hand-in-hand with you to make sure you find the right solution.
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