Aviation insurance is an inevitable part of owning or operating a private jet. As a necessity, it can be a difficult area to navigate. From choosing between providers with the best rates, to deciding which type of coverage is needed, the aviation insurance world is very complex.
The term “aviation insurance” encompasses a very broad spectrum of insurance options. Most owners purchase hull insurance, which covers physical damage to the aircraft, including engines, avionics, and any other systems that are used to fly the aircraft. Private jet owners should also buy liability insurance, which covers legal liability for injury and property damage resulting from the operation of the aircraft. Other common types of coverage include passenger legal liability, passenger and crew personal accident, and third party, cargo legal liability, host liquor liability and other coverages.
Although anyone who owns a private jet is probably familiar with the basics of hull and liability insurance, the details of such plans are far more complicated than most realize. For example, owners can choose between dozens of types of hull insurance, including “all risk,” “ground only,” and “war risk.” Exact details of coverage included in the policy may change when an owner modifies their aircraft, changes their flight habits, flies overseas or hires a new crew member. Some owners may need to purchase workman’s compensation insurance (depending on the laws of their state), and the variables involved in insurance rates are more numerous than most would like to think about.
The complexity and importance of insuring an aircraft necessitates advice from an industry expert. Jet Advisors has worked with numerous insurance companies and brokers throughout the industry. Coverage plans can vary tremendously and involve an operation assessment. This process is highly individualized and takes into account the owner’s goals and priorities for the risk management process, the specific types of risk he is likely to encounter, and which types of coverage are necessary. The result of each analysis goes far beyond a simple “worst-case scenario” list of all possible issues an owner could encounter – risk management is a collaborative, ongoing process which varies for each owner. A risk management program focused on passenger injury risk will not include all of the same coverage as a program focused on aircraft damage risk.
By choosing Jet Advisors for your insurance needs, you’re ensuring that your coverage will be customized for your specific mission. Our insurance professionals have decades of experience in the aviation insurance market and will guide you to the most competitive rates and coverage plans available, adding value to any operation!
General Aviation Insurance
Enjoy comprehensive coverage for a variety of risks for any kind of aircraft.
Corporate Aviation Insurance
Stay in the air with the best possible coverage limits according to your unique needs.
Commercial Aviation Insurance
Secure and support your business’ most critical investments.
Get protection for your commercial and recreational drones and Unmanned Aerial Systems (UAS), covering flight, aviation liability, and more.
Private Jet Insurance
Fly with confidence knowing you have the most comprehensive insurance at the best possible rate.