Aviation Insurance is coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are different from other types of insurance policies and uses terminology limits and clauses specific to aviation insurance.
Aviation insurance is divided into several types of coverage available.
Public Liability Insurance – Refers to damage caused by an aircraft to third party property such as cars, houses, crops, airport facilities and other aircraft in a collision. This kind of insurance is mandatory in most countries but different limits applies.
Passenger Liability Insurance – It protects passengers riding in the accident aircraft who are injured or killed. In many countries this is mandatory for commercial aircrafts and is usually sold on a per seat limit for each passenger seat.
Combined Single Liability (CSL)
CSL coverage combines public liability and passenger liability into a single coverage with a single overall limit per accident
Hull All Risk
Loss or damage to the aircraft arising out of the operation of the aircraft. It includes risks of flying, taxiing and on the ground. You can add war and allied perils to include extortion and hijacking expenses.