Hangar insurance

[kerry]

Does anyone know if insurance on a hangar covers the airplane inside the hanger if something catastrophic happens like a tornado or fire. I have friend who has a Lancair and does not have a current annual or hull insurance.  He doesn't have insurance on his hangar either.  I suggested he get insurance on the hangar because I thought it might cover the plane inside.  Can anyone tell me if that's the case or not.

[Guest]

My business “hangar keepers” insurance covers my customer airplanes while in my care.  I would guess he could get something similar to cover his airplane while in his hangar.

Clarence

[Culver LFA]

I discussed this exact scenario with my agent last year and was told my hangar insurance does not provide coverage on the airplanes stored inside.   If the building collapses and there is no ground policy on the airplanes it’s a really bad day.

[LANCECASPER]

The guy with the Lancair could probably get "not in motion" coverage pretty reasonably.

[thinwing]

Yeah I think it's called ground only and is a fraction of inflight coverage.

[Parker_Woodruff]

On 10/25/2018 at 8:00 PM, kerry said:

 I suggested he get insurance on the hangar because I thought it might cover the plane inside.  

 

A Hangar policy may cover a certain amount of personal property.  But that probably has exclusions.  One of those exclusions will probably be an aircraft.