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Aircraft Insurance Explained

Aircraft Aviation insurance

Aircraft (Liability, Hull & Cargo) Insurance in Canada



From privately owned to a fleet at the airport, one of the most important aspects of buying or owning an aircraft is the insurance policy and yet many aircraft owners (and even some financiers in the aviation industry) are not aware of the basic contents or restrictions contained in the policy. The following general terms and coverages can help when it comes to purchasing your aircraft aviation insurance.

What Does The Insurance Cover?

  1. Aircraft hull insurance
  2. Aircraft liability insurance – any liabilities arising out of its operations
  3. Air cargo insurance – the cargo being transported by it

Aircraft Aviation Insurance coverage is available on the following basis:

All Risks: damage occurring while the aircraft is on the ground (in motion or not) or while in the air

Ground and Taxiing Risks: coverage is provided only for loss or damage while the aircraft is on the ground or while it is in motion taxiing

Ground Risks Only: coverage only while the aircraft is on the ground and not in motion

Applicable Aircraft Aviation Insurance Endorsements

Lay-Up Endorsement: provides a refund of a portion of the premium when the aircraft is not used for extended periods of times. To be eligible for such refund:

  • Must have been purchased at the inception date of the policy
  • Reports of lay-ups must be provided to the insurer within 90 days of the expiry of the policy term

Common Aircraft Aviation Insurance Exclusions

War, Seizure or Hijacking

  • Loss or damage caused by or resulting from acts of war is an exclusion common to most property and liability insurance policies
  • Also excluded are losses due to hijacking or government seizure

Unapproved Pilot

  • No payment for losses will be made by the insurer when an unapproved pilot is in command of the aircraft
  • Such approved pilot must hold a current pilot’s licence with all aircraft type, instrument and night flying ratings required by law for the flight

Contact us today! Our advocates can help you secure the best products, services, and insurance solutions for your business.

ALIGNED Across Canada   100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.
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