ARE YOU REALLY SAFE FROM LOSS?
A hangar helps to protect your aircraft, but what’s protecting
your hangar and everything inside it? Whether you own or
lease, make sure ALL of your assets are covered!
Common sense dictates that you wouldn’t own an airplane without having adequate insurance, but how good is the insurance policy on your airplane’s primary residence? That residence probably houses thousands of dollars in other equipment spare parts, tools, headsets and tow bars, not to mention couches, tables, desks, chairs, lamps and much more. For some of you (and you know who you are), a hangar is your home away from home! How much would it cost to replace these items?
The type of hangar insurance you need depends on whether you are:
A private owner of the hangar, aircraft and contents.
A hangar owner who leases space to individuals or businesses.
An aircraft owner who rents hangar space .
TYPES OF INSURANCE
This covers physical damage that may occur to your hangar due to natural disasters or events. Hangars, with their lightweight construction, are vulnerable buildings. In the desert, we worry about dust storms, monsoons and fire. In other parts of the country, heavy snows, ice storms, hail and floods top the list.
Think “slip and fall.” Liability protection provides peace of mind that owners and FBOs are covered in the event that a third party is injured in the hangar, or a third party’s aircraft and equipment are damaged or destroyed.
Ground Risk Hull Insurance
Aircraft insurance is primarily designed to protect the aircraft during operational usage. When a plane sits motionless in a hanger, as it does most of the time, aircraft insurance doesn't usually apply.
When hangars incur structural damage, oftentimes the hangar’s contents are also damaged. Whether you own or lease hangar space, this protection provides coverage for the 101+ items you keep in the hangar in addition to your aircraft.
Loss of Revenue Insurance
If you own or lease hangar space as part of your business, you may want to consider applying for loss of revenue as an optional coverage.
CUSTOMIZE YOUR COVERAGE
The type and amount of recommended insurance protection varies
greatly among hangar and aircraft owners. Make sure you have the
coverage you need to address your specific concerns. Aerodyne can
help you research the right plan to safeguard your assets on the
ground, not just in the sky!
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