What does Hull Coverage Aircraft mean? Read on to discover the definition & meaning of the term Hull Coverage Aircraft - to help you better understand the language used in insurance policies.
Hull Coverage Aircraft
Property damage to an aircraft a business entity owns or operates is excluded under the Insurance Services Office, Inc. (ISO), commercial general liability (CGL) policy by way of the damage to property exclusion, which precludes coverage for property damage (PD) to property in the insured's care, custody, or control (CCC). Thus, many aircraft insurance policies include physical damage or "hull" coverage. Hull coverage may also be written as a separate policy. Coverage may apply on a named perils or an open perils/all risks basis. Hull coverage is typically subdivided to address aircraft while in motion and while not in motion.
We hope the you have a better understanding of the meaning of Hull Coverage Aircraft.