Let’s face it if we didn’t have to buy Aviation Insurance we wouldn’t. We’re all optimists when it comes to the likelihood of an ‘accident or incident’, so why buy cover?

The answer is really the same reason you’d buy any insurance product.

In this day and age litigation is becoming the norm so there is a need:

• To protect your hard-earned assets from litigation;
• To protect the rest of your assets in the event of injury or loss to a third party or to your passengers;
• To provide peace of mind whilst piloting your aircraft.

Choosing The Right Aviation Insurance Policy
Due to recent acquisitions or mergers, aviation insurance policies and the coverage they provide may have changed.  It is prudent to ensure your current Aviation Insurance policy is suitable for your requirements. Since every aircraft owner has different coverage needs, be aware that the cheapest policy may not provide the best protection.  Further, there are many clauses that can be added to your policy (usually at no charge) which may provide a more comprehensive aviation insurance cover, however, these clauses will only be included if you or your insurance representative request them from your underwriter.

Aviation Insurance Ground Risk Cover
You may wonder why you need aviation insurance whilst your aircraft is grounded, may not be flown for the foreseeable future and is safely hangared. An "aviation insurance ground risk policy" covers your aircraft against damage from windstorms, hangar fires, vandalism, etc where the hanger owner has been found not liable (usually because they took all reasonable care whilst the aircraft was in their care but damage was still sustained). Remember you can also be liable for damage caused by your aircraft whilst on the ground, such as it being blown against another plane in a windstorm - you have more than the value of your plane to lose!

Don't Sell Yourself Short
Think twice before underinsuring your aircraft to save a little money. Remember  that aircraft tend to appreciate rather than depreciate so consider the replacement cost of the plane when selecting your insured value.

Insure Your Upgrades
Ensure that sufficient cover is in place should you make any improvements to your aircraft. These can include installation of new avionics, a new engine or overhaul, general refurbishment, etc.

Review Your Limits Of Liability
Liability insurance protects you against claims arising from injury (including passengers) or damage you may have caused to others or their property. There is no minimum requirement under Australian law and, although, it is purely an individual decision a reasonable sum ought to be purchased.

And lastly – does your insurance broker understand what they are talking about (shameless plug here)…... Better to have a broker that flies and understands not only the risks, but the aircraft as well.

Get your aviation insurance quote now!

Contact either Joyce Cutajar on 1300 85 APEX (2739) or via email.

Email: Joyce Cutajar at:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it