iSure

Insurance Coverage for the Aviation Industry

Whether you fly for business or on vacation, you may have wondered does the aviation industry need insurance? Like any business, the aviation industry has many risks associated with operating from customers to employees to vendors. Every company benefits from an effective insurance plan, the aviation industry is no different.

Standard Coverage

Common business insurance options include workers’ compensation, commercial general liability, errors and omissions, employment practices liability and commercial auto. These cover the general liabilities faced by most companies. Aviation employees can be injured on the job or cause an accident in a company vehicle resulting in the need for two separate insurance coverages.

Specialized Insurance

The aviation does differ from the majority of industries with the number of moving pieces involved in operating an airline. They store planes making warehouse legal liability a necessary coverage option. According to iSure, other options focus on the liability around servicing providers, wholesalers, manufacturers, and distributors. These liabilities surround the equipment and parts necessary to maintain aircraft and keep them running properly. Does the aviation industry need insurance? In a word, yes it does. The risks and liabilities faced by the aviation industry are numerous. Without the right insurance, the company is putting itself at risk for financial loss in the event of a lawsuit.

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