You are required by law to take out mandatory Legal Liability Insurance which protects you from demands of third parties. Coverage is provided for bodily injury of third parties as well as for property damage to third parties. The laws requires that such cover is also effective in case of an act of terrorism or sabotage. The minimum Sum insured is defined by law and internationally harmonised. These minima are mostly not sufficient to cover your real 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.
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.
Please contact us in order to assess together your needs and provide you with a tailor-made solution which fully fits your needs.