Aviation Insurance in The Chicagoland Area and Across The Midwest
Aviation coverage’s are provided by specialty markets. These coverage’s are needed for any operation that utilizes aircraft in their business. The applications are extensive and coverage is unique and more closely associated to Ocean Marine than other types of coverage.
Aviation Coverage—Aircraft Policy
Aircraft policies are business auto policies for vehicles that fly. There are four coverage’s available:
- Liability for bodily injury or property damage to those hurt by the plane
- Passenger liability for bodily injury or property damage to those in the plane
- Medical Expense coverage for passengers and crew
- Hull coverage or physical damage coverage for the plane itself.
Aircraft coverage is very specialized with a limited marketplace and few standardized forms. Automotive operations with multiple
locations over a wide geographic area may find that a small airplane is more convenient than commercial airline flight.
Aviation Coverage—Passenger Liability
Covers the bodily injury to passengers on an airplane. This is separate coverage from bodily injury to others and is written on a
per seat/aggregate basis. All airplane coverage is written by non-admitted carriers on forms developed by those carriers.
Key comparisons are on the limits by coverage type and exclusions.
When an aircraft is owned, this coverage should be purchased to protect any passengers that may be on the plane.