Aircraft Hangar Insurance: What You Need to Know

Aircraft hangar insurance is a specialized field and essential for anyone who owns, rents, or uses a hangar for commercial purposes. Aircraft hangars have multiple uses, and the right type of insurance will protect you or your business.

Monmouth Jet Center at Monmouth Executive Airport is a privately owned, public-use airport in New Jersey, only a 20-minute helicopter ride or a one-hour drive from the center of Manhattan. We offer airplane hangar space in NJ and have  pre-built common-use hangars, t-hangars, and larger aircraft hangars with attached office space. Corporate flight operators, Part 135 operators, and other interested parties can do a build-out in existing buildings or design and build a custom hangar.

In this article, we examine hangar liability insurance, its various types, what hangarkeeper insurance covers, and associated costs.

What Is Hangar Liability Insurance?

The focus of hangar insurance and hangar liability insurance differs. Hangar insurance protects the hangar and its contents, while hangar liability insurance, also known as hangarkeeper insurance, covers an individual’s legal liability. 

Hangar liability insurance could cover damage to the property of others or bodily injury as a result of accidents on your property. Physical damage to an aircraft that is moved, undergoing repairs, or refueled falls within this insurance policy. Damage to the aircraft, loss of use, and its reduction in market value are generally included. Hangarkeeper insurance is taken out by fixed base operators (FBOs), hangar owners, aircraft detailers, municipalities, airport authorities, and other service providers. Monmouth Jet Centre carries all required hangar insurance.

Different Types of Hangar Insurance 

Hangars are used to store private planes, for aircraft charter services, aircraft maintenance, and several other purposes. Each situation is unique, and you might require different types of aviation hangar insurance. Hangarkeeper liability is a type of aircraft hangar insurance. What else is available? 

Premises liability. This insurance protects you or your business from accidents that happen on your property, whether to a contractor or customer.

Products liability. It covers your business from property damage or injury related to any products you handle, service, sell, repair, or supply. 

Pollution liability. When you store chemicals or aviation fuel in your aircraft hangar, and it accidentally leaks into groundwater or soil, you are covered. 

Business personal property insurance. Also called contents insurance, it covers the hangar’s content, including fuel tanks and tools.  

Building insurance. Do you own the aircraft hangar? This insurance protects the structure against fire, winter storm damage, and other events.  

What Does Hangarkeeper Insurance Cover? 

The primary purpose of hangarkeeper insurance, as previously mentioned, is to cover the hangar owner’s legal liabilities or what could be deemed damages caused by negligence on the part of the hangar keeper. This type of insurance is especially important for:

• Persons who sublet or lease a hangar to aircraft owners who store their aircraft in the hangar.
• Persons who maintain or handle other people’s aircraft while rendering a service.   

The coverage offered by hangar liability insurance may include damage to the outside of an aircraft when it was refueled, moved, or maintenance was performed. The insurance may cover legal fees and court costs if there is a lawsuit.

Understanding Aircraft Hangar Insurance Cost and Coverage Options 

Hangar insurance needs will differ based on the hangar size, type of aircraft stored, type of services delivered, and other considerations. Aircraft hangar insurance cost and coverage options will be determined by the insurance company when they understand your specific needs. Private jets, helicopters, hangars, and aviation-related tools or supplies are expensive, and it is essential that an insurance representative value the contents correctly. 

Private air charter companies and aircraft cleaning and detailing service providers have different insurance needs when both work from a hangar. These needs must be taken into account when discussing insurance coverage and cost. 

The hangars at Monmouth Jet Center are available at competitive rates. We offer aircraft cleaning and detailing, maintenance, and 24/7 FBO amenities, including competitively priced fuel. Contact us if you need information for aircraft hangar insurance or want to talk about airplane hangar space.