What is the legal framework for aircraft insurance coverage?
The legal framework for aircraft insurance coverage in Washington is outlined in the Washington State Aviation Insurance Law of 1988 RCW 7.15. This law defines the general terms of coverage and sets out the methodology used to calculate insurance premiums. Basically, RCW 7.15 requires that all aircraft used or operated within Washington State be insured. The aircraft owner is responsible for obtaining and keeping the insurance in effect. The law requires that the insurance policy issued must obligate the insurer (or the re-insurer) to pay a minimum amount of liability insurance for personal injuries, death and property damage. The minimum amount of liability insurance required is $100,000 per person and $300,000 per accident, with no limit on the amount for property damage. The law also sets out the formula used to compute the insurance premiums. The insurance premiums are based on factors such as the type of aircraft, the level of coverage chosen by the owner, the annual flight hours, and the owner’s experience. The premiums are discounted based on an aircraft owner’s safe operation and the aircraft’s maintenance records. The Washington State Aviation Insurance Law of 1988 is intended to protect citizens and property within the state from the potential harm caused by aircraft operations. This law helps ensure that aircraft owners are responsible for their own negligence and that they have the financial resources necessary to pay any damages or liability incurred as a result of their negligence.
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