LRingeisen
Well Known Member
Insurance can be pretty confusing. We have a lot of people ask us what the difference is between liability, and medical payments.
The Bodily Injury and Property Damage category is your liability insurance. Let?s say you have a $1,000,000/$100,000 policy (least amount that we recommend), the $1,000,000 is per occurrence and the $100,000 would be per passenger. Example: If there was an accident and your plane went down taking out part of a building and hitting a pedestrian, you would have a total of $1,000,000 to cover the accident. The pedestrian and the building would receive amounts determined by the insurance company up to $1,000,000. If the passengers in the aircraft were injured as well, the amount paid (up to $100,000 each passenger) comes from that $1,000,000 as well. (Side note: if you are ever offered a per person policy, the pedestrian would be limited to the $100,000. Gallagher Aviation does not offer these policies.) .
The medical coverage is for small instances, whether you are liable or not. Example: Your passenger slips getting into the aircraft and needs to go to the hospital for stiches. The medical coverage can be used even if you are not liable for the accident.
Please keep in mind that all claims are handled on a case-by-case basis
The Bodily Injury and Property Damage category is your liability insurance. Let?s say you have a $1,000,000/$100,000 policy (least amount that we recommend), the $1,000,000 is per occurrence and the $100,000 would be per passenger. Example: If there was an accident and your plane went down taking out part of a building and hitting a pedestrian, you would have a total of $1,000,000 to cover the accident. The pedestrian and the building would receive amounts determined by the insurance company up to $1,000,000. If the passengers in the aircraft were injured as well, the amount paid (up to $100,000 each passenger) comes from that $1,000,000 as well. (Side note: if you are ever offered a per person policy, the pedestrian would be limited to the $100,000. Gallagher Aviation does not offer these policies.) .
The medical coverage is for small instances, whether you are liable or not. Example: Your passenger slips getting into the aircraft and needs to go to the hospital for stiches. The medical coverage can be used even if you are not liable for the accident.
Please keep in mind that all claims are handled on a case-by-case basis
