Aircraft maintenance is an expensive and complex activity. It is impossible to foresee all possible problems and avoid large investments in repairs and parts procurement. Having an aircraft insurance policy can help you minimize costs.
Insurance object:
an aircraft including parts and special onboard equipment.
Insurance risks:
losses from complete (actual or structural) destruction or damage to the aircraft during flight, taxiing, staying on the ground or on water;
disappearance of the aircraft ;
necessary and useful expenses made to decrease losses, rescue, ensure security of or transport the insured aircraft to the nearest repairs site.
Insurance period:
regular operation of the aircraft;
ferrying time;
safekeeping time;
during demonstration and special flights.
The following factors influence the insurance premium amount:
technical condition of a specific aircraft;
statistics of aviation incidents for the last 3 years for this type of aircraft in general and for the particular airline;
crew qualification level;
maintenance conditions of the aircraft;
flight geography and intensity.
Exclusions:
Standard: Noise effects, pollution and other similar hazards; military and hijacking risks; risks related to nuclear explosion effects and radiation hazard; risks related to date identification error, etc. These risks can be insured separately.
Specific:
indirect losses, lost profits;
losses caused by working processes in aircraft equipment as well as normal operating loads;
If loss of the aircraft or damage to its equipment or components is attributable to any of the above causes, such incidents will be treated as insured events.
