Corporate Aircraft Insurance
One of the safest risks in the aviation insurance industry has historically been a professional crew, operating a well-maintained aircraft, on professionally flown missions for personal transportation. Typically called Industrial Aid, insurance companies can offer the most comprehensive coverage at the most affordable prices. Corporate aviation insurance offers companies defense against covered events to reduce risk.
It is important to work with a corporate aircraft insurance specialist with special knowledge of aviation. FAA regulations and policy wording may be challenging to comprehend. Travers Aviation Insurance employs aviation insurance specialists who are familiar with aviation.
Corporate aircraft are generally larger and more capable than many general aviation aircraft. This brings a different risk to mitigate. Pleasure and business travel aircraft including turboprop and turbojet powered aircraft operated by professional crews are generally considered ‘industrial aid’ operations.
Aircraft like the Gulfstream, Challenger, Falcon, and other similar turbine aircraft are examples of corporate aircraft we can insure competitively. Professional pilots are employed and paid for their skills in flying these aircraft. Our underwriters will inquire about the nature of the owner's business and the intended use of the aircraft. Underwriters will require information on the aircraft hangar location, the typical flight routes, the number of flight hours annually, and standard passenger volume. Corporate aviation insurance will be rated by the hull value, liability limit, and the pilot’s experience. It is important to work with a corporate aviation insurance specialist to help provide the best aviation insurance coverage available.
For flying departments using corporate aircraft, distinct aircraft policies are required. Through one or more of our recommended aircraft insurance firms, Travers & Associates, an aviation insurance specialist, can assist in coordinating the hull insurance coverage and liability coverage for your corporate aircraft insurance risk.
The cost of business jet insurance is generally one of the lowest upfront costs of ownership. We specialize in locating the broadest coverage at the most affordable price across the market. We are experienced and knowledgeable in corporate aviation insurance, and we may be able to save you thousands of dollars per year. Contact us with any questions so we can help you get started.
