The insurance covers passenger and cargo airplanes, helicopters, gliders, drones and unmanned aerial vehicles (UAVs) in various situations. It covers these aircraft not only when they are in flight, but also when they are at airports, airfields, hangars and any other place where they are being repaired, maintained or stored.

Such insurance provides comprehensive protection against various risks that may arise during the operation, maintenance or storage of an aircraft. Regardless of whether the equipment is in active use or parked, this type of insurance helps owners avoid significant financial losses in the event of unforeseen accidents.

What can be insured against?

Damage to or loss of the aircraft as a result of the following risks:

• in-flight accidents, including crew or professional errors, internal mechanical damage to the aircraft or its engine due to latent defects, and exposure to adverse atmospheric conditions
• fire, explosion
• theft, hijacking
• collision with a ground vehicle or object on the ground
• volcanic eruption
• accidents during loading and unloading of cargo or fuel
• impact of falling objects
• war risks

Insurance covers the following costs in the event of damage:

• Reasonable repair costs, which include the cost of spare parts, necessary materials and labor.
• Costs of repair work at the terminals where the aircraft is being repaired.
• Costs of salvage operations and measures to prevent further losses that may result from the incident.
• Loss of revenue during downtime when the vessel is unable to perform its functions due to repairs or other incident-related causes.

Factors affecting the cost of the policy:

• Market value of the aircraft: An estimate of the current market value of your aircraft has a direct impact on your premiums.
• Year the aircraft was built: The age of the aircraft is an important indicator, as older aircraft may require more attention and maintenance, which increases risks.
• Type of aircraft: Different types of airplanes and helicopters - passenger, cargo, recreational and others - have their own specific risks that are taken into account when calculating the cost of the policy.
• Country of registration: The location of the vessel's registration (flag) also affects the cost of the policy, as different jurisdictions have their own specific regulations and safety requirements.
• Technical characteristics of the aircraft: Such parameters as the number of passengers, payload and other technical features affect the level of insurance coverage and the cost of the policy.
• Technical condition of the vessel: The general condition of the aircraft, including its serviceability and need for maintenance, may require additional assessment or pre-insurance inspection.
• Number of Insured Vessels: If the owner has more than one aircraft, the cost of insurance may vary depending on the number of insured units.
• Types of losses covered by the policy: The range of coverage and types of losses included in the policy directly affect the cost of insurance.
• Territorial restrictions: The geographical areas in which the use of the aircraft is authorized may impose additional conditions on the insurance coverage.
• Excess: The amount of the deductible, i.e. the amount that the aircraft owner is willing to cover himself in the event of an insured event, affects the cost of the policy.
• Loss history: Previous losses and insured events involving the vessel are also taken into account when calculating the insurance premium, as they may increase the risk to the insurer.