As an airport or FBO, having the proper insurance is essential if something goes wrong.
Unfortunately, accidents do happen and can often lead to costly lawsuits. That’s where airport liability insurance comes in. This type of insurance can help protect you from a variety of risks, including aircraft accidents, passenger injuries, and property damage.
Airport liability insurance is essential for any airport or FBO that wants to protect itself from potential risk. BWI has the experience and expertise to help you find the right policy for your business.
In this blog post, we’ll discuss the types of coverage typically included in airport liability insurance policies. We’ll also explain why it’s vital to have comprehensive coverage to protect against increased liability risk and exposure associated with on-site aviation operations.
Keep reading to learn more about airport liability insurance and how it can help you protect your business.
What is Airport Liability Insurance?
Airport liability insurance is a type of insurance that helps protect airports and FBOs from potential legal liabilities. These policies can cover a variety of risks due to on-site operations involved in aviation, including:
- Lawsuits and litigation.Airport liability insurance can help cover the costs of legal defense, settlements, and damages that may be awarded in a suit.
- Aircraft accidents.If an accident occurs on the airport property, this insurance can help cover the costs of repairs, replacements, and medical expenses.
- Passenger injuries.This type of insurance may cover injuries sustained by passengers while on airport property.
- Third-party bodily injury. This coverage can help pay for the medical expenses and damages incurred by an injured third party on airport property.
- Property damage. If property is damaged on airport grounds, this insurance can help pay for the repairs.
- Third-party property damage.If property owned by a third party is damaged while on airport premises, this coverage can help pay for the repairs.
It’s critical to have this coverage in place because the risks associated with aviation are often much higher than those involved in other types of businesses. For example, an aircraft accident can result in serious injuries or even death, leading to costly lawsuits.
Airport liability insurance can help protect your business from these risks by providing legal defense, settlements, and damages coverage. As a result, it’s imperative to ensure that you have a policy covering all potential risks associated with your on-site aviation operations.
What Does Airport Liability Insurance Cover?
So, what types of coverage are typically included in airport liability insurance policies?
There are two main types of airport liability insurance: primary and excess. Primary insurance provides coverage for the first layer of protection up to the policy limit. Excess insurance provides coverage for any additional damages that exceed the policy limit.
In most cases, airport liability insurance policies will include both primary and excess coverage to provide the best protection for your business.
Some of the common types of coverage that are included in airport liability insurance policies include:
- Airport Premises Liability Coverage. This coverage can help protect your airport or aircraft hangar from lawsuits that may arise from accidents or injuries on airport property.
- Aircraft Hangarkeepers Liability Coverage. If you operate a hangar on airport property, hangarkeeper’s liability insurance can help protect you from risks associated with storing and maintaining aircraft.
- Aviation Workers Compensation Coverage. This type of coverage can help protect your employees in case they are injured while working on airport property.
These are just a few types of coverage that may be included in an airport liability insurance policy. BWI can work with you to tailor a policy that meets your needs and provides your business with the best range of coverage.
Insure Your Aviation Business with BWI
Since 1977, BWI has specialized in aviation insurance nationwide. This family-owned insurance brokerage understands the unique risks associated with aviation and can provide the coverage you need to protect your business.
With more than 40 years of experience, BWI’s aviation insurance professionals are trained to provide the best possible coverage at the most competitive rates. In addition, you can expect 5-star customer service and a team always available to answer your questions.
Airport liability insurance is vital for any business that owns or operates an airport. This type of insurance can help protect your business from risks threatening its financial stability.
BWI Aviation Insurance can help you find the right airport liability insurance policy for your business. We have the experience and expertise to provide you with the coverage you need at a price that fits your budget.
With BWI, you’ll have peace of mind knowing that you’re properly insured. To get started, request a quote for airport liability insurance from www.bwifly.com or call 800.666.4359.