Turboprop and Jet Aircraft

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If you own a Turboprop or Jet Aircraft for your private needs, for your business and/or you lease it to a commercial operator your insurance requirements might be different from each other. In order to optimize your insurance coverage and costs a tailormade solution is what we propose. There are different options you might consider whether to cover or not. This is where we assist you.

If you are a commercial (fleet) operator the needs for your insurances might be extended in respect of the private uses depending on the purposes, uses, passenger and the regions your aircraft is flying to.


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Turboprop and Jet Aircraft

Aviation law requires that you take out mandatory Legal Liability Insurance which protects you in case of an accident from demands of third parties and passengers. Coverage is provided for personal injury of passengers and third parties as well as for property damage to them. It is legally required that such cover is also effective in case of an act of terrorism or sabotage. The minimum Sum Insured is defined in various regulations and internationally harmonised. These minima are mostly not sufficient to cover your real liability risk.

If you want to protect your assets, Hull Insurance is the way to go. The purpose of this coverage is to protect you from the financial consequences of a loss of or damage to your aircraft. Financial institutions such as a bank or leasing company require hull insurance as security for loans or to cover their assets under a leasing agreement.

Hull Deductible Insurance should be considered if the Hull Deductible of your primary Hull Insurance reaches an amount you are not able to or you don’t want to afford. With a Hull Deductible Insurance, you can reduce your deductible as per policy to a reasonable amount.

Standard Hull Insurance does not cover malicious damages or sabotage to your aircraft. You are free to cover this by Hull War Insurance that grants coverage for strikes, riots, civil commotions, malicious acts, acts of sabotage, terrorism and much more. Hull War coverage is normally required by your bank/ leasing company if they are financing your aircraft.

In addition, we recommend to you an additional Personal Accident Insurance to cover the pilots and crew members, as they standard wise are not covered by the Liability Insurance of the aircraft. Such coverage is also available for passengers ensuring fast and sufficient settlement keeping you able to respond immediately and to maintain your good reputation.

Flights to Hot Spot Areas (countries excluded by Aircraft Insurance {LSW617} due to increased risks) require underwriter’s approval, as a write back or for individual flights. These might sometimes be time critical and need immediate attention because circumstances might change daily. We assist you to get coverage in a reasonable time frame. Depending on the destination there might be an Additional Premium. Some areas are excluded due to sanctions. Individual compliance checks are necessary if you want to fly to such destinations which can take several days.

Loss of use insurance indemnifies you in case that your aircraft should be out of service due to a Hull loss. Loss of use covers the difference of your own costs and the rental costs for another aircraft. Normally you have a waiting period of some days before your get indemnification for your additional costs.

Standard wise Liability insurance covers by law Freight / Cargo with up to SDR 22.00 per kilogram and Baggage up to an amount of SDR 1’288 in case of damage or loss. This amount might be too low for certain kind of cargo or baggage you carry with your aircraft. On request you can take out additional cargo insurance for a single flight or during the policy period.

Please contact us to assess together your needs and provide you with a tailor-made solution which fits your needs.