It is the insurance against claims and losses arising from the ownership, maintenance, or use of aircraft, hangars, or airports including damage to aircraft, personal injury, and property damage. It provides hull liability and property coverage for aircraft. This policy protects the owners and/or operators of an airplane from damage in the event of a crash. It also pays for medical bills and potential lawsuit damages from injured or killed passengers and other persons. Aviation insurance is divided into several types of insurance coverage available:
–Public liability insurance
– Passenger liability insurance
– Combined Single Limit (CSL)
– Ground risk hull insurance not in motion.
– Ground risk hull insurance in motion (taxiing)
– In-flight insurance