Sofema Online (SOL) considers the basics of an Aircraft Hull Insurance
Introduction
Ensuring the Lessee secures and maintains both hull and liability insurance is a pivotal requirement from a Lessor's perspective.
- This aligns with the fundamental principle that the Lessee bears all risks associated with the operation and usage of the aircraft throughout the lease period.
- Hull insurance covers the value of the Lessor’s asset in the event of physical damage to or loss of the aircraft (including records and any removed engines or parts).
- Liability insurance, provides coverage for general legal liability, including Third Party, Passenger, and baggage legal liability, protecting the Lessor and associated parties.