Nothing can ever beat the joy and thrill of soaring up above the clouds and enjoying a birds-eye view of our beautiful planet. That is why aviation is one of the hottest careers in today’s world. However, there is nothing as traumatizing than getting involved in an unfortunate incident with your aircraft and then learning the hard truth that it is not covered or adequately covered by an aviation insurance. Hence, it is imperative for every aircraft to be sufficiently covered by an aviation insurance policy. In this article, we will impart some important information that will help you understand aviation insurance.

As the name suggests, aviation insurance coverage or aircraft insurance is a policy that provides liability and property coverage to aircrafts. It can be purchased for different types of aircrafts including standard, experimental, and vintage aircraft. Most aviation insurance coverages consists of third party liability which includes hull (physical damage) and medical payments coverage as well as coverage for the personal items of passengers and the hangar that the aircraft is stored in. Some policies provide coverage for injuries sustained while operating the aircraft, emergency landings and also the costs for search and rescue operations. However, the cost and type of aviation insurance coverage mainly depends on the type of aircraft. It also depends on whether the aircraft is used for leisure or commercial purposes.

Just like other insurances, aviation insurance coverage is obtained through aviation insurance brokers or agents who represent an insurance company. The company reviews the application and assess the risks in providing the insurance for your aircraft and its operations. The right insurance brokers can be the crucial factor in obtaining the perfect coverage at optimum rates.