Enlarge / It’s easy to see why the world’s aviation industry has become so dependent on the use of aircraft.
According to the International Air Transport Association, aviation was worth $3.7 trillion in 2015, and it’s projected to be $5.6 trillion in 2020.
And if you’re wondering how much more aviation is likely to go down the pipe, consider the $2.4 trillion in fuel and equipment required for air travel.
But when it comes to the aviation industry, there’s no shortage of risk, especially for the passengers.
According the IATA, more than 2.5 million passenger deaths occurred last year, with another 431,000 hospitalizations.
In addition, more people were injured in aviation accidents than anywhere else on earth.
Aviation insurance coverage is often more expensive than other types of insurance.
So what does that mean for you?
Here are five things you need to know about aviation insurance: 1.
Aviation Insurers Cover Every Travel Category When it comes time to apply for a plane ticket or a hotel stay, your aviation insurance company will cover the full range of your travel, from airline flights to cruise ships.
So if you go to a cruise ship and need a room, your airline might not cover you.
And there’s a good chance that your airline will cover a passenger if you take a ride on a ship and they have a medical emergency.
If that passenger is you, your insurance might cover you if they are hospitalized.
But if you need a plane tickets to the cruise ship, your aircraft might not.
“If you are on a flight that includes a cruise liner, you’re covered by your carrier,” said Jim Zemlin, CEO of Enlarge/Mashable, in an interview with Mashable.
“The problem is that when you are flying a cruise-ship plane, that doesn’t necessarily mean that you’re going to be covered.”
So if your airline offers a high-speed, low-speed ticket for a trip that includes cruise ships, your policy might cover the entire trip.
But the airline may not cover the cost of the airfare, Zemler explained.
2.
When It Comes To Air Travel, There’s No Limit to the Amount of Risk If you’re not familiar with the basics of airline travel, there are a few things to consider.
First, the total amount of insurance coverage your airline provides varies depending on the size of the business, Zomlin said.
So when you fly, for example, you might get a policy that covers you for the entire length of your trip.
If you need medical treatment, your carrier might offer you a policy for a specific amount of time.
“You can have your policy cover all or part of the medical treatment for a short period of time,” Zemlen explained.
“Or you could have it cover the whole trip, or for all or a portion of it.”
But if your carrier only covers the first part of your medical treatment while you’re at the cruise-ships, it might not be covering the rest of the time.
And for a large, international cruise ship cruise, that’s probably not the case.
3.
The Amount of Coverage for a Single Trip When it came to aviation insurance coverage, there is a limit to the amount of coverage a single trip can provide.
For example, if you are a student traveling to a medical conference in Europe, your policies may cover the trip from your home state to Europe.
But there is no limit on how much you can cover with one trip.
“Depending on the business and the location of the conference, it’s not going to cover everything,” Zomlen said.
“In some cases, you can’t get more than what your policy covers.”
If you are traveling to an event where a large number of people will be in the same room, a policy may not be enough to cover you for a long trip.
For instance, if your policy is only covering you for one night and you’re on a cruise that is only for two nights, the policy will cover you only for the first night.
“But if you have a policy covering you a full week and you get off a cruise, you’ll be covered for a full month,” Zelin said.
In that case, your total policy may be more than enough to get you through the entire duration of your cruise.
If your policy includes a “limited” coverage policy, it can cover a portion or a full year of the trip, but the policy is still subject to the limits of your airline.
4.
Insurance Companies Offer Different Plans For Different Types of Travel Even though some carriers offer a “full” or “limited coverage” policy, some policies offer separate, lower-cost plans for different types of travel.
“Some policies cover only a portion, while others cover a whole trip,” Zemslin said, adding that these policies are