A Breach of Warranty (BOW), also knowns as lienholder extended coverage, is more than a simple loss payable to the bank. It is a requirement by most aircraft lenders to be included in an aviation insurance policy. The Breach of Warranty is an endorsement that extends coverage to the lienholder in case your insurance policy…
Q: What are medical limits on my aircraft insurance policy? Isn’t bodily injury included in my liability section? A: Much like an auto insurance policy, the medical coverage on an aircraft insurance policy is a coverage paid to anyone injured (including the insured) regardless of legal liability. This amount is generally used for emergency medical…
While a majority of aircraft accidents are result of pilot error, occasionally a product defect is deemed the probable cause behind an aircraft accident or incident. Aircraft are intricate machines made up of thousands of parts, both stationary and moving. Besides large components such as the engine or landing gear, many small parts such as…
A: There are many benefits to requiring non-owned (or renters) insurance for both your renter and the school. Let’s take a closer look at why: Renter: A non-owned aircraft insurance policy includes the insured’s legal defense. While an initial consultation with a lawyer can cost around $500, this is less than spent annually on a…
It’s simple, really. Having more options within a market creates competition which drives down prices. This same statement can be applied to the aviation insurance industry. For years, one direct writer dominated the aviation insurance market, charging premiums that best fit their own bottom line. Why not take advantage of the competition and save an…
Off limits to U.S. citizens since October of 1960, the Caribbean island of Cuba seems to be frozen in time with classic American cars lining the streets. In 1919 the first Cuban flight school opened and for decades Havana to Miami was a popular flight route for general aviators. Leading up to the embargo a…
With the cost of aircraft ownership on the rise, aircraft owners are in need of a way to reduce their annual costs. Besides trusting the experts at Aviation Insurance Resources (AIR) to shop your policy for the best rates, there are some other options to keep your airplane flying and your pocketbook full. Share the…
Many individuals become pilots for the travel and sense of freedom as general aviation opens up a world of airports and new towns to discover. Pilots create flight plans based on dreams of new cities, states and even countries to explore. There are many considerations prior to departing to these new lands. Weather, runway length…
While insurance needs can vary depending on the aircraft use and pilot experience, the structure of the insurance quote and policy is usually divided up into three sections: Liability, Physical Damage and Medical Payments. A common question the insurance specialists at Aviation Insurance Resources (AIR) receive is “What are medical payments? Isn’t bodily injury included…
Many businesses depend on general aviation to get their owners and employees from point A to point B. An integral part of their business is based on an efficiently and safely run corporate flight department. That safety can have a positive effect on the insurance rates for their corporate aircraft, a key factor to consider…
