Examining Insurance Policies Part 3 - Essay Example

Examining Insurance Policies Part 3 Dear Sir, Following the preliminary assessment of your insurance needs that we made explaining why you might need insurance in your situation, this is a follow up letter aimed at making you understand your policy conditions. Key would be examining the need for airport premises coverage. Additionally, this letter aims at enabling you become aware of common exclusions that you should keenly look out for while also recommending endorsements that will fill up any gaps in this coverage.

While Airport Liability policies may contain many different liability coverage’s, they however will not cover your property. Airport premises liability coverage is an additional coverage to an aircraft liability insurance policy that covers for bodily injury or property damage that results from the use of airport premises for both the parking and storage of the aircraft. This basically implies that the policy coverage will apply only to your premises (Prather 17). This policy will include any if not all of the following coverage; personal injury, premises and operations liability insurance, contractual and premises medical payment insurance.

However, the good thing about this policy is that the policy may be tailored to meet the particular requirements of the insured. Hull and liability coverage will mainly cover the aircraft with all its components which include the engine, the propeller and all the other systems and the permanently attached equipment to the aircraft in addition to the avionics (viation Cases 1945). Under the aircraft liability coverage, claims from risks that ay result to property damage and bodily injury or death by members of the public and passengers.

Some of the endorsements that I would recommend is the CGL policy coverage which can be provided to premises liability, products and completed operations. Other additional coverage that will be covered against include personal injury liability, liability incurred in advertising the host liquor liability in addition to hanger keepers coverage in the case of FBO operations (Prather 21). This coverage I believe would suit you best as you have other services like the class room instructions while also conducting aerial tours in his aerial photography side job.

Some of the exclusions you should look out for include the ground hanger keepers’ legal liability which will come into play especially when you hire out the aircraft. The cover will provide for liability of damage to the property when the damage occurs as a result of negligence when the property is under the control or care of the other party. Another exclusion that care needs to be taken include the professional liability cover which should provide protection against claims legally obligating policy holders to pay when errors or omissions result from their professional work.

Additionally, having pollution endorsement which include coverage for potential and existing hazards and which may include pollution legal liability professional and environmental liability and closure and post closure will be necessary to avoid future legal battles.Works CitedPrather, C D. Conducting Aeronautical Special Events at Airports. , 2013. Print.viation Cases. New York: Commerce Clearing House, 1945. Print.Airport premises liability, aircraft. retrieved from http://www.irmi.com/online/insuranceglossary/terms/a/airport-premises-liability-aircraft.aspx