Aviation insurance is a specific branch of transport insurance, and requires specific policies and management of diverse solutions. Air travel has revolutionised the way people and goods travel around the world. However, aviation as an industry is exposed to unique and potentially catastrophic risks.
- High risk: aviation carries with it many potential risks, including accidents, collisions, damage and loss of aircraft. This is why premiums for aviation insurance can be significantly higher compared to other types of insurance.
- Complex risk factors: risks associated with aviation include technical problems, human error, weather conditions and many other factors. This requires a very specific and detailed risk analysis and assessment.
- High value aircraft: aircraft are extremely expensive, both their acquisition and maintenance. The loss or damage of an aircraft can have a significant financial impact on the owner or operator.
- Global coverage: aviation is a global industry; that is why aviation insurance usually covers risks internationally. This requires cooperation between insurance companies and regulatory bodies in several countries.
- Different types of coverage: airline insurance can include different types of coverage, such as aircraft loss insurance, third-party liability insurance (e.g., passengers and property owners), business risk insurance (e.g., flight interruptions) and other specific coverages.
- Technical expertise: risk assessment in aviation insurance requires extensive technical expertise to understand the technical aspects of aircraft and aviation operations.
- Legal and regulatory obligations: aviation is a highly regulated industry with many legal and regulatory requirements. Insurers must be familiar with these regulations to ensure that coverage is compliant with the requirements.
All these aspects require a special approach and expertise.
In addition to aircraft casco insurance, whether the aircraft is used for personal needs or transporting people and goods, dusting, aerial photography and other purposes, aircraft insurance is also necessary in case its use causes injury or damage to third parties.
Accordingly, there are two main solutions we provide when it comes to aviation insurance.
Aircraft owner insurance against liability for damages caused to third parties and passengers
Legally required insurance for all aircraft with a take-off weight greater than 20 kg. It covers costs in case of damage caused to third parties, passengers and their personal property.
Aircraft Casco Insurance
This solution covers the cost of repairing and transporting a damaged aircraft vehicle in case of breakdown or damage that occurs during flight or on the ground.
Aviation insurance and specifics of the solutions
Aviation insurance includes coverage for a wide range of aspects, including damage to the aircraft fuselage, liability for passenger injuries, liability to third parties, and even coverage for aviation-related business operations. Accordingly, there are many policies provided by EuroSolutions that cover numerous risks associated with aircraft operations, ownership and maintenance of aircraft, and the specific characteristics that set it apart compared to other types of insurance.
Aviation insurance by type of aircraft
As each aircraft has its own specific characteristics that require different solutions, we provide insurance policies for different types of aircraft:
Commercial airliners (charter and regular traffic)
Agricultural aircraft
Sports planes, school planes and personal-use planes
Firefighting aircraft
Taxiing aircraft and other aircraft
Aviation insurance by activity
We provide insurance solutions in the field of aviation, also based on the specific characteristics of the business, for:
Airlines
Flight control
Manufacturers for the aviation industry
Repair and maintenance services providers in aviation
Airport authorities and Airport fuel dispensers
Seeking quality advice or suggestions for improvement?
Our proven methodology of introducing and improving insurance services will reduce risks and costs resulting from unforeseen events in the future. Every journey begins with the first step, and the first step in insurance is the proper identification of risks, followed by defining necessary and effective insurance solutions. Contact us, and we will help you to insure your business, property, people and finances in the best way possible.