Contractual Agreements and Insurance

A good question to ask your insurance agent is:

“How does my aircraft insurance policy cover the contractual agreements surrounding my plane?” The short answer is it doesn’t

 When purchasing an aircraft, you may sign several contracts such as  maintenance agreements, aircraft  lease agreements, hangar or  airport lease agreements, and a bank loan just to name a few. 

 An Aircraft Insurance Policy does not provide blanket contractual coverage.  Make sure you submit all of your contracts to the underwriter for review.   You'll need to discuss those contracts with your agent to determine the best plan of action should an incident occur.             

Andrews Insurance Agency specializes in commercial coverage as well as Aviation insurance. We are happy to provide a review of the contracts surrounding your plane to determine if you have any gaps in coverage. Often times, there is either a gap in coverage leaving the insured exposed to liability or an over insured situation. No one enjoys paying insurance premiums. Having the right policies in place is important and it makes good financial sense to have third party oversight in this area.

If you are interested in discussing the contractual agreements surrounding your aviation department, please reach out to us.

• Call or text

• Email

• Schedule a Zoom meeting