Aviation insurance is specialized insurance coverage geared just for the operation of commercial aircraft and all the risks involved with aviation. It is important that you are familiar with aviation insurance so you understand what it is that you need to be insured against. There is a wide variety of policies available to choose from and a lot of jargon that needs to be kept well under control. This article will aim to make things easier for you.

The first thing that you need to know is exactly what types of protection are included when you purchase an aviation insurance policy. The most basic type of coverage is known as ‘computed risk’ which means that there are various levels of risk and if a certain event occurs there needs to be a justification for it. For instance, if a plane crashes then passengers on board will have compensation claims made against the owner of the aircraft, the pilots and the aircraft maintenance company. You will also need to consider public liability insurance if your intended activity takes place within the public eye. If a third party is injured in an accident with you then you may also be held legally liable.

There are two primary types of coverage that you need to know about and these are physical damage and liability coverage. When you take out a policy for aircraft you will be protected against a wide range of potential problems such as plane crashes, weather conditions, or even mechanical failure. The majority of policies will protect you against liability up to a certain amount. You should always check with your provider to make sure you are protected in the event of a total loss.

When it comes to protecting yourself against liability then the two different types of coverage that you have to choose from are personal injury protection and business interruption coverage. With personal injury protection you will be protected if another passenger or crew member meets with an accident, or if you suffer damage or loss as a direct result of an on-board accident. Business interruption is similar to liability coverage but the policy will not cover aircraft maintenance or other routine maintenance issues. This will also not cover any passengers who become injured during transit. These two different types of aviation insurance can be combined if you have a frequent flyer account with a particular provider to get the best protection possible.

Ground risk is the one aspect of aircraft Aviation Insurance coverage that covers all the risks that an aircraft faces on the ground in airports, airfields and heliports. It includes any risk that is associated with hazards that are found at the airport, natural disasters or adverse weather conditions. You are also protected if you have an aviation training program at any of the facilities where you conduct your business.

With a mixture of all of these different coverage options you will be able to reduce your premiums and spend less money on the premium by choosing the right coverage for your particular situation. However, even with the best coverage it is vital to remember that an adequate amount of aviation insurance is absolutely essential. Aviation accidents can happen without warning and can occur even when the aircraft is flying well within a good range of the airport. If the worst happens and an accident occurs the only thing that can protect you is aircraft insurance.