National Aviation Day

In 1939, President Franklin Delano Roosevelt chose to honor Orville Wright by creating a holiday on his birthday. To this day, August 19th is known as"National Aviation Day." Both Orville and Wilbur Wright are credited with the invention, the build, and first successful flight of an aircraft. Their first successful flight took place in Kitty Hawk, NC on December 17, 1903. From this day forward, the Wright Brothers would be known as the "Fathers of Modern Aviation." Due to their success, they added in a passenger seat and then sold the plane to the U.S. Army for a whopping $30,000. At the height of their career they would have their own business and contracts in both the United States and Europe.

As with any vehicle or form of transportation, the vehicle in question must have some sort of insurance policy. When it comes to the insurance of aircrafts, there is Commercial General Liability (CGL) and policies specifically created for Aviation. CGL is standard industry language for insurance, but this standard excludes any bodily injury or property damage. This is why there is a need for Aviation Insurance before operating.

Like with any vehicle/mode of transportation, Aviation Insurance varies from policy to policy, When it comes to liability, this can protect against bodily injury and/or property damage. Public Liability and Passenger Liability can both be covered under this umbrella. One thing that is important to keep in mind is that these types of policies can only be limited to the United States, Canada, and some portions of Mexico.

If someone wanted more coverage overall, then the best thing to opp for would be Hull Coverage. So who and what is covered under this? The owners of the aircraft and the pilot are covered from any losses. These losses include any [physical] damage to the aircraft and would also include the theft or disappearance of the aircraft. Hull Coverage also includes the disappearance of anyone who may be flying over the Bermuda Triangle. But note that Hull Coverage is only necessary for active aircrafts -- aircrafts that are out of commission (usually displayed in museums) would not need Hull Coverage. There are three categories of coverage:(1) aircraft in flight, (2)landing and takeoff (also when parked), and (3)while in motion or being taxied.

Also,a key aspect of Aviation Insurance that every person needs to keep in mind is that 54%of all fatal accidents are caused by pilot error, so make sure you work with a knowledgeable agent, and make sure you are comfortable with the terms and conditions before you sign on the dotted line.

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National Aviation Day

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