Regardless of the industry you work in, you have to consider business liability insurance. Every company has its own share of risk, but in the aviation business, you have very specific and complicated risks that most insurance companies cannot handle.
What Is Airside Insurance?
Airside insurance is any type of aviation insurance. Aviation general liability, for instance, is a lot like commercial general liability. It covers third-parties who suffer injuries in your aircraft or because of your actions. If someone suffers an injury in your aircraft, odds are that your typical liability coverage won’t cover it. When it comes to aviation insurance, it is designed to cover the specific risks involved with the aviation industry.
Do You Need Aviation Insurance?
What happens if someone is injured in your aircraft or on your property? What if your aircraft suffers property damage? Most companies cannot cover the costs of lawsuits or replacements for aviation equipment. Since most insurance policies do not cover aviation-related injuries and damages, you could lose your business due the cost associated with aviation risk.
Every industry has its share of risk. It is up to you to insure for your specific risks. If you are in the aviation business, then you need to think about the aviation risk exposures.