Aviation insurance is designed to cover the specific risks associated with flying.
Similar to general insurance, a premium is paid in exchange for an agreed level of cover. The premium is calculated based on a number of factors that influence the potential risks, including:
- Aircraft type and model
- Pilot history, age, and experience
- Type and frequency of pilot training
- Aircraft usage - private, for business or commercial
- Aircraft activity - on the ground, taxing or in-flight
- Claims history
You can choose different levels of cover, from full aircraft hull flight risks insurance through to aircraft and aviation liability only insurance. Policies can include aircraft, pilots, passenger, hangars and more. Government taxes and government mandated insurance guidelines also need to be considered.