Florida hurricane season (June 1 – Nov 30) has major implications for aircraft insurance. Underwriters treat this period as high-risk, which affects coverage rules, premiums, deductibles, and operational restrictions. Here’s how the season may impact an aircraft policy.
Aircraft Insurance During Florida Hurricane Season
Higher Premiums
Aircraft based in South Florida (or the broader Florida / Southeast region) usually carry higher premiums because of hurricane exposure. Hangared aircraft can reduce premiums significantly because they are far less likely to be damaged.
Factors insurers evaluate:
- Airport location (coastal vs inland)
- Hangared vs tied-down aircraft
- Aircraft value
- Historical storm exposure
Hurricane Deductibles
Some policies apply a special hurricane deductible, which is usually higher than the normal deductible. An example of a deductible may look like:
- Standard “fixed” deductible: Example: $1,000 – $5,000 based on the insured value.
- Hurricane deductible: 5 – 10% of value (For instance, an aircraft valued at $400,000 may have a deductible of $20,000 based on a 5% deductible stipulation).
Storm Preparation Requirements
Many insurers require reasonable storm mitigation. Failure to take reasonable precautions could affect claim payouts. Here are a couple examples:
- Moving aircraft inland
- Securing aircraft in a hangar
- Following airport hurricane procedures
Also, some policies may include a Named Storm Clause. Such a clause may increase the deductible when a named storm is within a certain radius. The policy may also include an aircraft relocation requirements (meaning the aircraft must be moved or hangared, if the aircraft is within the radius of the named storm). Check your policy for the definition of a named storm and the storm category (or storm force.)
Other conditions may apply.
The Southeast Insurance Group can review your aircraft policy with you. We have been South Florida Insurance brokers for over thirty (30) years and we have first hand experience with the considerations and effects associated with weather. Contact us by email or call us at +1 305-442-1500 to discuss your private or commercial aircraft insurance needs.
