Aviation Insurance Provides Several Types of Coverage
Take a deep breath and relax, Aviation Insurance is offered that covers passengers, pilots, aircraft and corporations. From the nervous individual passenger on Jet Blue to those who fly their own aircraft for business and pleasure, including Tom Cruise, to the professional pilot behind the rudder of Donald Trump's Lear jet, everyone can be covered in the event of a mishap. In this fast paced world where a telephone conference call just won't due, more people than ever are flying or riding in aircraft and there is available aviation insurance for everyone regardless of the situation.
There are several categories of coverage. The most conventional is the traveller, for business or pleasure, who wants additional flight insurance so that his or her family will benefit in case of flight problem. This policy is per flight only and will also cover accident related medical bills of the person flying.
A second category offers the same sort of coverage on an ongoing basis for the pilot and it may be taken out by the pilot himself or the business or individual that employs him. This type of coverage can also be extended to include pilots partaking in recreational flying, including ultralite, sport model airplanes and may extend to just the pilot or to any passengers as well. Most corporations, including indemnified individuals, carry aviation insurance on their employees who fly for business purposes that cover the employee while on company business related flights. This protects the business itself from wrongful death lawsuit in the event of a mishap. This coverage usually includes, medical care, death benefits, and or hospital leave and unemployment for the employee insured and beneficiary payments to named beneficiaries, which may include the employer.
Aviation insurance policies are also written to insure the company or individually owned aircraft for damage. There are some terms that are specific to aviation insurance, such as additional insured, which is a person other than the insured who is given policy protection, which usually refers to the employer. Industrial Aid
Refers to corporate-owned aircraft flown by professional pilots for the transportation of executives, employees, customers and guests. Open Pilot Warranty is a clause that states the minimum qualifications for a pilot and does not necessarily mean that the named pilot will be covered under the liability protection of the policy. And the insurance company providing the policy is itself covered by the term known as subrogation, which allows the insuring company to try to legally recoup some of the payments they have made on behalf of the insured.
by Sally.Anderson 19 years ago