Aviation insurance policy is particularly for airlines, its crew members, and related aircraft activities and/or the hull itself. There are many types of aviation insurance policies delivered by riskfreelife.com. Each of the aviation policies provide covers based on certain parameters mentioned below.
Aviation Personal Accident (crew member) Insurance
Riskfreelife.com has designed an aviation insurance plan, which covers the insured crew member of an aircraft for disablement, injury, death because of an accident. It covers for dismounting or mounting from the aircraft or while traveling in it, or the plane being used in the geographical scope to its permitted usage.
The cover may be on basis of 24 hours or yearly. As per the insured's status, earning capacity etc. the capital sum insured can differ, and is fixed by the insurers.
Hull All Risk Insurance Policy
This aviation insurance is meant for small aircraft operators from companies involved in agricultural spraying operations, flying clubs, aircrafts for business executives, VVIPs, and those operating in industrial aids. The coverage is against damage, loss, disappearance, and total loss of the insured aircraft. All loses paid for are subjected to deductibles.
Loss of License Insurance
Aviation Insurance in India is also for aircraft operating crews, who must possess a valid license. On medical grounds, the license of an operating crew can be suspended temporarily or permanently. Thus, it can lead to a hefty financial loss. But, with aviation insurance from riskfreelife.com, cover is granted for such loses, in respect to the crew's disablement (permanent, total, or temporary), his/her illness or bodily injury.
Hull Deductible Insurance
At times airlines have to bear a part of loss because of application of a deductible, as per that under All Risk Policy. This can impose a significant financial impact on the insured. With aviation insurance policy, the operators can insure their proportion of deductibles.
Spares All Risk Insurance Policy
Aviation insurance policies of this type cover damages or losses to supplies or properties owned by the insured (whilst in transit by sea, air, land, in own aircraft, or on ground, and on premises of others for reasons of storage only), tools, spares, and equipments.
Hull/Spares War Risk Insurance
Indemnity offered is for the aircraft and its spares, damage caused by invasion, war, foreign enemies, civil war, hostilities, revolutions, rebellion, martial law, resurrection, riots, strikes, malicious acts, civil commotion, and sabotage.