Comprehensive Aircraft Insurance Policies Canada - Everything You Need to Know

What’s included in a comprehensive policy?

• Hull coverage: Protect your aircraft's structure and avionics from damage, ensuring that your investment is secure.
• Liability protection: Coverage for damage to third parties, giving you peace of mind while flying.
• Passenger and pilot coverage: Receive financial protection in case of injury to passengers or pilots, ensuring that everyone on board is covered.

Benefits of a comprehensive policy

• Full protection for your aircraft
• Legal liability coverage
• Peace of mind while flying

Factors to consider when choosing an aircraft insurance policy

1. Type of Aircraft: The type of aircraft you own (e.g., single-engine, multi-engine, experimental) can significantly impact your insurance needs and premiums. Ensure that your policy is tailored to the specific type of aircraft you operate.
2. Usage of the Aircraft: Consider how you plan to use your aircraft—whether for personal, business, or commercial purposes. Different usage scenarios may require different coverage options and limits.
3. Experience and Qualifications: Your flying experience and qualifications can influence your insurance premiums. Insurers may consider factors such as your flight hours, type ratings, and any previous claims history.
4. Policy Limits and Deductibles: Review the policy limits and deductibles carefully. Higher limits may provide better protection, but they can also lead to higher premiums. Choose a deductible that aligns with your financial situation and risk tolerance.

For more information on factors to consider and how they affect the cost of aircraft insurance premiums, you can read our article "What factors affect the cost of aircraft insurance premiums?".