Aviation Insurance
Aviation insurance offers financial protection against risks associated with aviation-related activities. It covers potential risks against aircraft, airports, and aviation operations.
This insurance plan offers insurance to experimental, standard and vintage aircraft. It covers financial protection against aircraft damage, parts replacement and liability claims due to accidents or loss of life.
It helps businesses run smoothly and give them the strength to bear any loss or damage. It will let the organisations rebuild assets after a financial loss.
Lifecycle Fire and General offers Aviation insurance policies tailored to meet the specific needs of different entities involved in the aviation industry. Aircraft owners, operators, airlines, airports, aviation service providers, and manufacturers can consider Aviation insurance.
Aviation consultants, brokers, flight instructors, and aerial photography companies may consider aviation insurance to cover their professional liability, general liability, and other specific risks associated with their services.
Lifecycle Fire and General understand the specific insurance needs and offer coverage requirements depending on the nature of the aviation activities, the size of the aircraft fleet, and the extent of operations.
Here are some key components and coverage options commonly found in aviation insurance
- Aircraft Hull Insurance: This coverage protects the physical hull and equipment of an aircraft against damage or loss resulting from accidents, collisions, fire, theft, vandalism, or other covered perils. It may also include coverage for spare parts and accessories.
- Aircraft Liability Insurance: Covers bodily injury and property damage liability arising from aircraft operation. It protects in case the insured aircraft causes harm or damage to third parties, such as passengers, other aircraft, or people on the ground.
- Aviation Passenger Liability: It covers bodily injury and property damage liability claims arising from injuries to passengers on board an aircraft.
- Aviation Products Liability: Product liability coverage addresses liability claims related to aviation products, including aircraft parts, components, and equipment. It protects manufacturers, suppliers, and distributors against claims about their products causing harm or damage.
- Hangarkeepers Insurance: Hangarkeepers insurance offers coverage for aircraft kept in storage, serviced, or repaired in a hangar or facility operated by the insured party.
- Non-Owned Aircraft Liability: Non-owned aircraft liability coverage protects individuals or organisations that use or rent aircraft they do not own. It covers liability for bodily injury or property damage caused by non-owned aircraft operations.
Aviation insurance provides coverage for various risks and liabilities associated with aviation-related activities. Aviation insurance policies can vary depending on the specific policy, insurance provider, and the needs of the insured entity. Aviation Insurance typically covers
- Third-Party Liability Insurance: Aviation insurance typically provides coverage for third-party liability, which includes bodily injury and property damage claims brought by individuals or entities not associated with the insured aircraft or its passengers.
- Personal Accident Insurance: Personal accident coverage is for pilots, crew members, and passengers in the event of accidental death, bodily injury, or disability resulting from an aviation accident.
- Airport Liability Insurance: This coverage is designed for airports and covers liability arising from operations, premises, and services provided by the airport. It may include coverage for property damage, bodily injury, and product liability related to airport operations.
- Aviation Business Interruption: Business interruption coverage offers financial protection for aviation businesses against perils, such as aircraft accidents, natural disasters, or regulatory shutdowns.
It’s important to note that the specific coverage and policy terms can vary depending on the insurance provider and policy. Exclusions, limitations, and specific conditions may apply. It is advisable to consult with experienced aviation insurance professionals to assess the needs and obtain appropriate coverage for the insured entity.
Aviation insurance typically does not cover
- Losses or damages caused by acts of war, hostilities, terrorism, or similar events.
- Losses or damages resulting from illegal activities, such as smuggling, illegal transportation, or intentional violations of laws or regulations.
- Losses or damages caused by willful misconduct, intentional acts, or criminal actions from the insured party.
- Normal wear and tear, mechanical breakdown, or gradual deterioration of an aircraft.
- For losses or damages from nuclear reactions, radiation, or nuclear weapons.
- For losses or damages related to those modifications or alterations in aircraft.
- For losses or damages when the aircraft is used without proper authorisation or outside the agreed-upon terms and conditions.
- Personal injury claims brought by employees of the insured entity.
It’s important to note that aviation insurance can be complex and highly specialised due to the unique risks associated with the aviation industry.
Lifecycle Fire and General are insurance brokers that can assess the specific risks of an aviation organisation and offer appropriate coverage plans.
- We carefully tailor the coverage policy terms depending on clients’ needs.
- Our coverage plans are flexible at competitive rates.
- We offer you a seamless process for aviation insurance.