My mother-in-law, a fine woman and a good citizen, is mad at her insurance carrier. The ceiling in her garage fell recently, some quarter of a century after she and her late husband bought the house from the previous owner. It didn’t fall because of flood, earthquake, tornado, fire or collision—it just fell.
The insurance company explained that the policy doesn’t cover wear and tear, but only loss due to accident or other cause. Nothing happened to her ceiling; it just wore out and fell. She is not happy with that.
This is the age-old problem of the policyholder not understanding the policy. Is it the policyholder’s fault? Arguably not, but any insurance professional can tell you that it’s difficult to explain insurance to people who often don’t seem to care. I have tried it myself many times, and found it a tough row to hoe.
This situation exists in aviation insurance, too, and NBAA is trying to help. Members of NBAA's Tax Committee will host a live webinar this Thursday, June 17, at 2:00 p.m. Eastern, titled, aptly enough, "Understanding Your Aviation Insurance Policy." According to NBAA, the webinar will “review the basics of liability coverage, strategies for choosing an appropriate liability limit and will also discuss misunderstood policy conditions.â€
If you really want to understand your policy, this webinar should be a great place to start. I know, or know of, the presenters and they are long-standing professionals in the industry.
NBAA members and nonmembers are welcome, with members getting a somewhat lower price. Go to for more details and to register.
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