Aviation Insurance

  • Buy Aviation Insurance Policy in India

Aviation insurance is insurance coverage designed specially to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are definitely different from other transportation policy and tend to incorporate aviation terminology, which limits and clauses specific to aviation insurance. Aircraft operators invest heavy amount in building fleet of aircraft. Be it small aircraft operators as well as scheduled airlines, all need a comprehensive cover for aviation portfolio. The aviation insurance portfolio encompasses following type of covers.

  • Hull All Risk Insurance Policy: This policy  is  suitable  for  small  aircraft  operators  belonging  to  flying clubs,  companies  engaged  in  agricultural  spraying  operations,  aircrafts  especially  designed  for VVIPs, business executives and for those  engaged in industrial aids. The policy scope includes all physical  loss  or  damage  sustained  by  the  insured  aircraft  including  total  loss,    All losses are paid subject to deductibles.
  • Spares All Risk Insurance Policy: Covers loss or damage to spares, tools, equipment’s and supplies owned by  the  insured  or  the  property  for  which  the  insured  is  responsible  whilst  on  ground  or  in transit by land, sea, air including in own aircraft or whilst on the premises of others for storage only.
  • Hull/Spares War Risk Insurance: Indemnity is  provided  to  the  aircraft  as  well  as  spares  caused  by war, invasion, acts of foreign enemies, hostilities, civil war, rebellion, revolution, resurrection, martial law, strikes, riots, civil commotion, malicious acts, sabotage.
  • Hull Deductible Insurance: Airlines at times have to bear a proportion of loss due to application of a deductible under All Risk Policy, which may  impose considerable financial difficulty on the insured. Therefore the operators insure part of their deductibles under this kind of insurance.
  • Aviation Personal Accident(crewmember)Insurance: This cover  is  designed  to  cover  insured person against injury, disablement or death arising as result of an accident that is generally granted on  annual    The  cover  operates  while  mounting  or  dismounting  from  and  whilst  traveling  an aircraft while the aircraft is being used within the geographical scope as per its permitted usage. This cover can also be on 24 hours basis. The capital sum insured varies according to the status of the insured or earning capacity and fixed by the insurers.
  • Loss of License Insurance: Operating crews of the aircraft are required to have valid license. License is liable  to  be  suspended  either  temporarily  or  permanently  on medical    Consequential financial  loss  is  covered  by  the  loss  of  license  policy.  Cover provided is in  respect  of  incapacity causing permanent total disablement or temporary total disablement due to bodily injury or illness. Besides the aforesaid general aviation policies Insurer also provides various other tailor-made insurance as per specific requirements of the insured.

Besides the aforesaid general aviation policies Insurer also provides various other tailor-made insurance as per specific requirements of the insured.

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