Understanding Aviation Insurance

There is little that can compare to the peace and calm you feel when flying - the wide-open sky, the billowing, soft clouds, the striking sunsets - it just doesn't get much better than that. 

But no matter how peaceful those treasured flights are, if you and your aircraft aren't fully protected, you will still have the weight of the world on your shoulders up there. How can you let that baggage go? Ensure that under all circumstances, you and your aircraft are covered with the absolute best insurance at the best price. After that, it's smooth flying. ​

Getting Started
So where do you start? Well, here at Synergy Insurance Group, we can help. We know aviation insurance through and through, and understand the importance of peace-of-mind when flying. Just ask our resident pilot - former Minnesota National Guard Chinook Pilot and aviation insurance expert, Terence Glommen-McCloskey. 

"You have this beautiful aircraft and there are a number of risks to consider." Glommen-McCloskey said. "The most obvious risk is to the aircraft itself, but pilots tend to minimize their liability risk. What happens, for example, if you bump into a Citation? That's going to cost you."

With high maintenance and repair costs, heightened risks associated with flying, and how much pilots like to baby their aircraft (guilty), outstanding insurance is an absolute must. 

So here, we will give you a run down of the basics, but we are just scratching the surface. We are always just an email, message or phone call away for a more in-depth look into the world of aviation insurance. We love talking about it and are eager to help our fellow pilots in any way we can. 

What is Aviation Insurance?
Aviation insurance provides protection and security to people who own aircraft or are in the aviation business. Aviation insurance policies offer a variety of coverages, including liability and property coverage. 

Typically, aviation insurance covers costs incurred from repairs or replacements. 

Types of Aviation Insurance
Of course, flying aircraft poses a lot of risks. Policy providers offer various aviation insurance policies to provide protection and security. 
Among the many types of aviation insurance, insurance agencies typically offer the following types.

• Public Liability Insurance
  This type of insurance covers costs the policyholder can incur from damages caused by the insured aircraft. Typically, damages caused to third parties and properties like houses, cars, and crops are covered by this type of insurance. Additionally, most countries require this type of insurance. 
  However, this type does not protect the aircraft as well as the injured passenger.
• Passenger Liability Insurance
  This insurance provides compensation for medical expenses and costs incurred from injuries or the death of a passenger. It is also typically required by most countries for commercial aircraft.
• Combined Single Limit (CSL)
  CSL is a combination of public liability and passenger liability insurance. This type of insurance provides the policyholder a limit per payout per accident. 
• Ground Risk Hull (Non-Motion) Insurance 
  This type of insurance covers damages caused by the aircraft when it’s not in motion. This covers damages resulting from perils, including fire, theft, hangar collapse, among others. 
• Ground Risk Hull (Motion) Insurance
  Contrary to non-motion, this insurance protects against damages that result from when the aircraft is moving. However, this type of coverage has been removed from offerings because of disputes between policyholders and providers.
• In-flight Insurance
  In-flight insurance covers the aircraft from damages that occur when the plane is in motion. This is also the most expensive type of aviation insurance because risks are much more significant when the plane is moving.

Feeling overwhelmed?
​We totally get it. Luckily, you are in the right place. 

At Synergy Insurance Group, we provide comprehensive insurance policies that make your life easier. We do the heavy lifting. We translate all that complicated insurance lingo, we review your policies with a fine-toothed comb, and we make sure you know exactly what you are signing. And the kicker, enlisting the help of an Insurance Agency like SIG will almost always cost you LESS than getting insurance direct from an insurance company. A computer just can't tailor your insurance like a fellow human being can and you will never be just a number to us. 

So let's do this. We are ready to get you the best possible insurance at the best possible price. And if we can't, no pressure. Ever. You can get more information about our products and services by calling our agency at (763) 797-9999, emailing us at contact@trustsynergy.com, or by CLICKING HERE to get your free quote. ​