Have you been asked for an ACORD 21 Certificate of Aircraft Insurance? A Certificate of Insurance form is a document that provides information about insurance policies to third parties - but is not an insurance policy.
ACORD 21 Certificate of Aircraft Insurance
You never know when you are going to be asked that you need to provide proof of your insurance.
While most people are familiar with providing proof of car insurance or renter's/home insurance, many of us don't realize that aviation insurance is required of anyone who owns an aircraft. While the procedure and forms are a bit different, it is fairly easy to prove that your aircraft is insured with the ACORD 21 Certificate of Aircraft Insurance form.
ACORD 21 should be used to prove that insurance is being held by a business or sole owner of an aircraft. There are many times that someone may ask to see the ACORD 21 Certificate of Aircraft Insurance form. This could be when damage occurs to property or another aircraft, before flight, when a non-fault accident occurs, or to prove that the aircraft is covered to any interested third party. Because of these circumstances, the form needs to be filled out and endorsed by the company holding the policy.
Who Needs It
Anyone who owns an aircraft of any type needs to have the required form ACORD 21 Certificate of Aircraft Insurance to show that there is insurance before flight. It is required for planes, helicopters, jets, helipads, and other aircraft equipment. Those who run a business dealing with aviation should also have proof of insurance. It may be requested by the owner of the airport, the company's helipad, or another person with an aircraft if there was any damage or a crash involved.
The insurance company you hold your policy through should fill out the ACORD 21 Certificate of Aircraft Insurance form. It is a certificate that explains a bit about the policy you have through the company and your benefits. While it does not go into all the details of the policy, it does give the general and big picture items that another person might need to know.
Your insurance company should endorse the copy they give you so that it is official when you need to use it. On the form, your aircraft is going to be listed with the year, make, model, registration number, and serial number. Then, it goes through the coverage. The coverage on the form should include information about the aircraft hull, aircraft liability, and medical payments insurance.
When Not To Use
However, there are also a few times that this form should not be used. This form is not proof of existing coverage. While it can provide proof of insurance, it only provides proof that the insurance policy was opened on that date listed on the form. Because of this, multiple certificates of insurance may need to be requested when a third party wants to prove existing coverage.
It should also not be used to quote any existing part of the policy or any benefits listed. Damage done to any motor vehicles should not be shown this certificate of insurance but rather ACORD 23. ACORD 21 is not a legally binding contract between the insurance owner and policyholder, and it can only be used to provide proof of a policy being opened under the name of the holder.
More On Certs
ACORD 21 Certificate of Aircraft Insurance - The Bottom Line
We hope this article on ACORD 21 Certificate of Aircraft Insurance has been informative.
Find other ACORD forms here - ACORD 20 Certificate of Aviation Liability Insurance, ACORD 21 Certificate of Aircraft Insurance, ACORD 22 Intermodal Interchange Certificate of Insurance, ACORD 23 Vehicle or Equipment Certificate of Insurance, ACORD 24 Certificate of Property Insurance, ACORD 25 Certificate of Liability Insurance, ACORD 27 Evidence of Personal Property Insurance, ACORD 28 Evidence of Commercial Property Insurance, ACORD 125 Commercial Insurance Application, ACORD 126 Commercial General Liability Section, ACORD 130 Workers Compensation Application, ACORD 140 Property Section