Hull Insurances From PETER H. BRAASCH

Description

Hull Insurance
Comprehensive collision insurance offers protection against loss of or damage to the aircraft. All damages are covered that the insured aircraft may suffer from risks in the air as well as on the ground up to the contracted amount of coverage. The contracted insurance sum should always equal the current value of your aircraft in order to avoid over- or underinsurance. As our client, you will regularly receive monitoring notices to check &, if necessary, adjust your insurance coverage.

Your premium rate for comprehensive collision insurance can be substantially reduced by naming the pilots who will fly the specific aircraft, so that we strongly recommend you to name your pilots in your enquiry. We shall be happy to discuss further discounts, e.g. for no claims, whole fleets as well as for association memberships in a personal conversation.

War Damages
Damages or loss due to war, civil war, riots, revolts, insurrection, rebellion, industrial action, insurgency, acts of terror or sabotage, hijacking of aircraft, confiscation, requisitioning or orders of higher authority are principally excluded from comprehensive aircraft collision insurance policies.

You can usually include many of these risks by complementary comprehensive war coverage at very affordable prices. Until now, mainly aircraft incurring increased risks have taken out such complementary policies – especially if they fly to areas outside of Europe or are deployed there. Even if you have contracted comprehensive war coverage, there are countries you may not fly to.

War coverage protects you against unforeseeable events.

Engine Insurance Policies
Damages to engines are only covered by comprehensive collision policies if they are caused by external events, e.g. bird strikes; we offer additional special coverage for damages due to interior causes, e.g. overheating or material failure.

Repairing engine damage can be very expensive, depending on the type of engine. We shall be happy to make you a detailed bespoke offer.

Retention Insurance
In contrast to the well-known conditions of motor vehicle insurances, aviation policies are not yet available without retention in case of collision damage. Depending on the type of aircraft, you must reckon with a minimum 4-digit amount that can quickly rip a great hole in the bank account of your club or household.

Thus it’s common practice in aviation clubs to collect monthly contributions from the members to accumulate funds for possible retention payments for collision damages in order to relieve the load on the person responsible for the damage.

Insurance companies employ the same community principle in such cases. Contact us to have us calculate if such retention coverage is appropriate for you.