Aircraft Hull Insurance NZ 2026
Protect your aircraft investment with comprehensive hull coverage. Physical damage insurance that covers accidents, weather damage, theft, and more.
What is Aircraft Hull Insurance?
Aircraft hull insurance provides physical damage coverage for your aircraft. It protects your investment against damage from accidents, weather events, theft, and other covered perils. Unlike liability insurance which protects against third-party claims, hull insurance covers damage to your own aircraft.
Hull insurance is typically written on an "agreed value" basis, meaning you and the insurer agree on the aircraft's value at policy inception. In the event of a total loss, you receive the full agreed amount without depreciation.
Hull Coverage Options
All-Risk Ground and Flight
Comprehensive coverage during all phases of operation
- In-flight damage
- Ground operations
- Taxiing incidents
- Weather damage
Ground Risk Only
Coverage while aircraft is not in flight
- Hangar damage
- Tie-down incidents
- Ground handling
- Maintenance risks
Not In Motion
Most basic coverage - aircraft must be stationary
- Hangar fire/theft
- Weather while parked
- Vandalism
- Static risks only
What's Covered
- Physical damage to aircraft from accidents
- Weather-related damage (hail, wind, flood)
- Fire and explosion damage
- Theft of aircraft or components
- Vandalism and malicious damage
- Collision with objects or terrain
- Hard landings and gear collapses
- Engine damage in certain circumstances
Common Exclusions
- Wear and tear / mechanical breakdown
- Damage from improper maintenance
- Operations outside policy territory
- Unlicensed or unauthorized pilots
- Commercial use when insured for pleasure
- War, terrorism, and nuclear events
- Consequential or indirect losses
Agreed Value vs Actual Cash Value
Agreed Value (Recommended)
- Value agreed at policy start
- No depreciation at claim time
- Clear payout expectations
- Protects against underinsurance
Actual Cash Value
- Value determined at claim time
- Depreciation applied
- Lower premiums but more risk
- May not cover replacement cost
Understanding Hull Deductibles
How Deductibles Work
Hull deductibles are typically expressed as a percentage of the insured value or a fixed amount, whichever is greater.
- Standard deductibles: 1-5% of hull value
- In-motion vs not-in-motion deductibles
- Higher deductibles = lower premiums
- Some policies have separate gear-up deductibles
Example Calculation
Aircraft Value: $200,000
Deductible: 2% or $2,500 (greater of)
2% of $200,000 = $4,000
Applied Deductible: $4,000
Hull Insurance Cost Factors
Aircraft Value
Higher values mean higher premiums
Pilot Experience
More hours = lower premiums
Aircraft Type
Complexity affects rates
Deductible Level
Higher deductible = lower premium
Get Your Hull Insurance Quote
Protect your aircraft investment with comprehensive hull coverage. Get competitive quotes from New Zealand's aviation insurance specialists.