http://www.saflyermag.compossible excess payment. Remember, the insurer only needs to put
you back in the same position you were in prior to the accident or
loss.
- PLAN FOR ALL SITUATIONS
Two mistakes are often made when an aircraft is used for
instruction:- The aircraft owner assumes that if an instructor flies an aircraft
and gives conversion to type instruction, the student does not
need to be named on the policy. Yes, your policy covers the
instructor while he or she gives instruction. But if your policy
does not make provision for an ‘Open Pilot Warranty’, you
need to name every pilot. - The student isn’t named on the policy intentionally to avoid the
insurance premium being increased, and is only added once
the instruction has been completed.
Either way, if a claim arises during any of the above scenarios,
it will certainly cause problems. It may also result in insurers not
accepting liability.
- The aircraft owner assumes that if an instructor flies an aircraft
- UNDERSTAND YOUR TERMS AND CONDITIONS
Understanding the clauses in your policy is critically important.
Here, a good aviation broker will come in handy to explain the
clauses in more detail.
Consider this example: On your way to your friend’s farm in your
beautiful Baron 58 for a hunting weekend, you are well aware that
the tar runway is 600 metres long. If you’ve read the aircraft manual
and the clauses in your insurance contract, you will know that you
need approximately 800 meters to land the aircraft and that the
‘unlicensed landing grounds suitability clause’ will play a big role.
You go for the landing, but the airstrip is too short and you damage
the undercarriage. Would you be able to convince your insurance
company that you took all the necessary precautions to prevent this
damage, and found the runway to be suitable for a safe landing? It’s
unlikely.
Aviation insurance is a specialised field. You need to make sure
that you take out the correct cover, and that your aircraft is insured
for the correct value. Then take time to read through your policy
and make sure that you understand the terms, conditions, excesses
payable and exclusions. You also need to contact your aviation
broker if your circumstances change, or your cover needs to be
adjusted. It is always better to be safe than sorry. j