Aviation Insurance

Aviation policy is coverage designed especially for the operation of aircraft and the risks involved in aviation.  Aviation policies are definitely different from other transportation policies and tend to incorporate aviation terminology. Aircraft operators invest a heavy amount in building a fleet of aircraft. Be it small aircraft operators as well as scheduled airlines, all need a comprehensive cover for aviation portfolio. The aviation portfolio encompasses the following type of covers.

Hull All Risk Policy

This policy is suitable for small aircraft operators belonging to flying clubs, companies engaged in agricultural spraying operations, aircrafts especially designed for VVIPs, business executives and for those engaged in industrial aids. The policy scope includes all physical loss or damage sustained by the insured aircraft. All losses are paid subject to deductibles.

Spares All Risk Policy

This policy covers loss or damage to spares, tools, equipment, and supplies owned by the insured or the property for which the insured is responsible whilst on the ground or in transit by land, sea, air including in own aircraft or whilst on the premises of others for storage only.

Hull/Spares War Risk Policy

Indemnity is provided to the aircraft as well as spares caused by war, invasion, acts of foreign enemies, hostilities, civil war, rebellion, revolution, resurrection, martial law, strikes, riots, civil commotion, malicious acts, sabotage.

Hull Deductible Policy

There are instances where airlines have to bear a proportion of loss due to the application of a deductible under All Risk Policy, which may impose considerable financial difficulty on the insured. Operators ensure part of their deductibles under this kind of insurance.

Aviation Personal (crew member) Cover Insurance

This is designed to cover insured person against injury, disablement or death arising as a result of an accident that is generally granted on an annual basis. The cover operates while mounting or dismounting from, and whilst traveling an aircraft while the aircraft is being used within the geographical scope as per its permitted usage. This cover can also be on 24 hours basis. The capital sum insured varies according to the status of the insured or earning capacity and fixed by the insurers.

Loss of License Insurance

Operating crews of the aircraft are required to have a valid license. Consequential financial loss is covered by the Loss of License policy.  Cover provided is in respect of incapacity causing permanent total disablement or temporary total disablement due to bodily injury or illness. Besides the aforesaid general aviation policies, it also provides various other tailor-made policy as per specific requirements of the insured.