What is business income coverage?
It replaces lost income and ongoing expenses while you recover from a covered property loss. Thelimit should reflect how long rebuilding or relocating could realistically take.
Are wind, hail, flood, and water damage covered?
It varies by policy, location, and deductible, and flood is often written separately. Policies in storm prone areas commonly carry a separate, higher wind or hail deductible, so review those terms closely.
How should I set the hangar building value?
Use the cost to rebuild, not the purchase price or tax value. Construction costs, code upgrades, debris removal, and specialized features like hangar doors all affect that number.
Do hangar tenants need their own coverage?
Often, yes. The building owner's policy may not cover a tenant's improvements, contents, tools, lost income, or liability. Most hangar leases spell out what each party must insure.
What’s the difference between property insurance and hangarkeepers liability?
Property covers what you own, like the building, tools, and equipment. Hangarkeepers covers your liability for customer aircraft in your care. Hangar owners who store other people’s aircraft usually need both.