Liability insurance
There are aircraft owners who do not realize that aircraft liability insurance is mandatory in Canada. Not only is it required, it is also smart to have. Liability insurance protects you in the event that you damage someone else’s property. This could include colliding with a parked aircraft, damaging a hangar or hitting a person. For private aircraft owners the applicable Canadian Aviation Regulation says, in part:
606.02 Liability Insurance
(a) $100,000, where the maximum permissible takeoff weight of the aircraft is 1,043 kg (2,300 pounds) or less; (b) $500,000, where the maximum permissible takeoff weight of the aircraft is greater than 1,043 kg (2,300 pounds) but not greater than 2,268 kg (5,000 pounds); (c) $1,000,000, where the maximum permissible takeoff weight of the aircraft is greater than 2,268 kg (5,000 pounds) but not greater than 5,670 kg (12,500 pounds).
There are different rules in effect for heavier aircraft, commercial operators, flying training units and balloons flying passengers for hire, so for the complete rules in those categories check CAR 606.02 in its entirety. The important point is that every aircraft needs liability insurance.
COPA Liability Insurance
COPA’s aviation insurance coverage is administered by Marsh Canada, (Toll free, Tel.: 800-361-1625). The minimum $100,000 liability insurance costs only $100 per year. This is a no-questions-asked group plan for COPA members. It covers the pilot. Each policy may extend to family members under a COPA family membership but it does not cover co-owners or other pilots on the same aircraft. Co-owners may receive a discount on their own COPA liability coverage.
Passenger liability
The basic liability insurance required by law does not cover passengers. It is required when pilots fly youngsters in the Young Eagles Program. Passenger Legal Liability Insurance defends pilots when legal action is brought against them for bodily injury covered under the policy. COPA Passenger Legal Liability Insurance premiums are based on the amount of coverage purchased per seat. The cost of $100,000 coverage for one seat is $175. Note: When this insurance is purchased, all the passenger seats in the aircraft must have coverage.
Aircraft hull insurance
Coverage of physical loss or damage to an aircraft is available on three basic levels: 1/ Ground; 2/ Ground and taxiing; and 3/ All risk flight and ground. The cost typically is a percentage of the aircraft declared value. The percentage varies with the level of coverage, the type of aircraft and the pilot’s experience.
COPA’s hull insurance plans require an application. Once this is completed, coverage can be bound quickly. Contact Marsh Canada.
Insuring aircraft values
Over the last two years, aircraft have been increasing in value along with the cost of repairing them. The biggest mistake an owner can make when purchasing hull coverage is to undervalue the aircraft. Insurance companies providing hull coverage have the option of repairing a damaged aircraft or paying out the full coverage and keeping the aircraft for salvage.
Calendar year
All COPA aviation insurance policies expire at the end of December each year. The renewal notices have been sent to COPA policy holders. Return the renewal promptly to ensure that your coverage continues in the new year. If you have any questions, call Marsh Canada.
Valid COPA membership
COPA’s insurance plans are a membership benefit. Please make sure your membership remains current during the period of your COPA insurance coverage to keep it valid.
Your COPA membership expiry date appears on your membership card and on the monthly mailing label of your COPA publications. To renew your COPA membership, Tel.: 613-236-4901, Fax: 613-236-8646 or E-mail:
membership@copanational.org.