Several factors can influence the cost of aviation insurance, including the type of aircraft, its value, the pilot’s experience and qualifications, how often the aircraft is flown, where it’s operated, and the types of risks being covered. Other factors, such as maintenance history, safety record, and the intended use of the aircraft (e.g., private vs. commercial use), also play a role in determining premiums.
Fraud is a crime
If your application contains purposefully misleading, absent, or inaccurate information, you could be charged with fraud. Your insurance carrier could potentially void your policy, or you could face civil or criminal charges or penalties.
Any person who knowingly and with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime.
