For each of the following events, indicate whether the event would cause you to

Question

For each of the following events, indicate whether the event would cause you to consider its effect on your current aircraft insurance policy and explain why:

You have spent several thousand dollars to upgrade the aircraft’ s avionics.

You are going to allow another pilot to fly your aircraft.

You’ve been using the aircraft only for your own recreational, proficiency, and business travel, but have earned your flight instructor certificate and now want to also use the aircraft to start a flight instruction business.

You’ve been flying your aircraft only within the contiguous (“lower 48”) U.S. but are now planning flying it on a trip to Alaska

You’ve paid off the loan you took out to purchase the aircraft

Explanation / Answer

Only second and the last event will not cause me to consider the effect that these will have on the insurance policy. Because my current coverage would already covered the full cost of the aircraft and ay perosn who is fying the plane.

The aircraft insuranec coverage would include the coverage for hull losses and the liability for passengers/owner injusrues and any third party damage cause by aircraft accident.

However the first event would obviously increase the total cost of aircraft that could undermine the coverage of insurance. And for starting flight instruction business the arena of using the aircraft increases which may be limited in the current coverage. Again planning trip to Alaska might not be covered under the current coverage.Hence all these will cause considering the coverage of insurance of the aircraft.

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