Aircraft storage: How aircraft storage decisions influence aircraft safety and insurance premiums

Whether you’re looking at hangaring, tying down, or mooring your aircraft, each storage option carries a set of benefits as well as risks. Understanding these factors is essential for aircraft owners like you to make informed decisions to protect your investment and manage your insurance. 

Hangared aircraft: Maximizing aircraft safety and insurance savings  

Storing your aircraft in a hangar is widely considered the gold standard for protection. Hangars provide shelter from harsh weather conditions, reduce the risk of vandalism, and offer a secure environment for your aircraft. Many insurers recognize the reduced risk of damage associated with hangared aircraft and often provide incentives, such as more favorable rates, lower insurance premiums, and increased premises coverage limits. 

However, there can also be some drawbacks. Depending on the location, size, and type, availability may be limited, and rents may be prohibitively expensive. In the absence of appropriate hangar space close by, you may have to travel long distances in order to access the aircraft. 

Having adequate premises coverage, which helps shield against legal liabilities that may arise from incidents on the premises — such as slip-and-fall accidents or property damage — is critical. If the hangar is rented, it is common for hangar owners to request the aircraft owners carry premises liability coverage, which is generally available on aircraft liability policies. Hangar owners also typically ask to be added to that coverage as an additional insured. 

Tied down aircraft: Understanding the challenges and insurance costs 

Owners may choose to tie down their aircraft. This option may provide some benefits over hangaring, such as closer proximity and lower storage costs. However, tied-down aircraft are more exposed to environmental risks such as storms, snow, ice, and hail, which are prevalent in Canada. In addition to the likeliness of more wear and tear and therefore requiring more maintenance and repairs than aircraft stored in hangars, this increased exposure can lead to higher insurance premiums due to the elevated risk of damage and theft. 

To mitigate these risks, it is crucial to follow best practices for tie-down procedures, including: 

• Investing in quality tie down equipment: Only use equipment that is explicitly designed to tie down an aircraft, such as aircraft cables, ropes, or straps. Make sure its load capacity is suitable for your aircraft.
• Choosing appropriate tie down points: Tie down the aircraft at designated tie down points, typically located at the main landing gear or wing struts. 
• Checking for obstacles: Make sure there are no obstacles that could interfere with the tie down system, such as debris, equipment, or other aircraft. 
• Applying adequate tension: Apply enough tension to the tie down system to keep the aircraft stable, but not so much that it causes damage to the aircraft. 
• Carry out periodical checks: Regularly check the tie down system to ensure that it remains secure and that there is no damage to the equipment. 

Moored aircraft: Understanding unique challenges and insurance implications 

Mooring is often a preferred storage solution for seaplanes or amphibious aircraft. Mooring, however, presents unique challenges and insurance considerations. Unlike for hangared and tied down aircraft, insurers must take into account the possibility of water damage, corrosion, and sinking when determining premiums for moored aircraft. 

To help mitigate the risks for moored aircraft, it is crucial to be aware of the weather forecast, as strong winds and waves can cause the aircraft to bob and roll and slam into the dock, increasing the likelihood of damage. During bad weather, if possible, consider removing the seaplane from the water and either tying it down or storing it in a hangar in the same manner as a land plane.  

Protecting your investment with smart storage decisions 

To effectively manage insurance costs and mitigate risks, private aviators should consider the following best practices. 

1. Invest in security measures, such as surveillance systems, access controls, and alarm systems, to protect your aircraft from theft or vandalism. These measures can help reduce insurance premiums and provide peace of mind. 
2. Considering limiting the exposure of aircraft that will be stored outside with protective gear, such as cockpit, engine, and wing covers and sun shields. Secure and use these protective methods correctly to minimize the risk of inadvertent damage to the aircraft. 
3. Regular maintenance checks help keep your aircraft safe and reliable and may also help reduce the likelihood of accidents and ensuing insurance claims. Aircraft owners may want to consider keeping a detailed logbook of their maintenance efforts for accountability to themselves and their insurance company. 
4. Conduct a thorough risk assessment of your chosen storage option. Consider the geographical location, climate, and potential hazards specific to the area. This assessment will help you make informed decisions and better protect your aircraft. 
5. If you rent a storage space for your aircraft, the owner may require you add them as an additional insured party to your aircraft liability coverage. It is crucial to understand the impact this could have on your insurance policy. Contact your insurance broker to learn more. 

The way you store your aircraft can have a significant impact on its maintenance and repair costs over time, as well as its insurance coverage and premiums. By implementing best practice risk mitigation strategies and working closely with insurance brokers, personal aviators can help ensure they have adequate coverage and effectively manage insurance costs. Remember, each storage option has its own unique considerations, and it is essential to evaluate the specific risks associated with your chosen storage method.