This is connected with various types of aircraft: airplane, gliders, helicopters, jet, etc. Aviation insurance insures all aviation risks, varying from component to complete jumbo jets purchased by:

  1. Large commercial airlines.
  2. Corporate or business aircraft owner e.g. NNPC.
  3. Private owners.
  4. Flying class.
  5. Aircraft and aircraft component manufacturer.
  6. Airports authority.



Aviation insurance is transacted through the following terms.

A) Hull aviation insurance: This covers the aircraft itself which includes helicopter. It provides cover for the aircraft against accidental loss or damage from any cause that could be linked to the following:

  1. While in flight from taking off to landing.
  2. While on the ground.
  3. While floating in water for aircraft designed to land in water.


B) Legal liability of passengers: It provides cover for aircraft operators against all sums for which he is liable to pay in respect of accidental bodily injury to or the death of passengers while entering into or alighting from the aircraft. It commences from the time passengers check in and ceases when they collect his baggage prior to departure from their airport.


C) Third party legal liability insurance: In third party legal liability, the aircraft operators are provided with cover for all sums due to third party resulting from accidental injury or death of persons or damage to property on the ground and outside the aircraft, provided it is caused by the aircraft.

Other forms of policy are:

  • Cargo policy.
  • Freight policy.



Technological development has brought about risks in Nigeria like other nations. This has brought about increase in demand for engineering insurance. An engineering insurance is to indemnify the insured in the event of the plant being damaged by some extraneous cause or its own breakdown.

The cover under Engineering insurance includes:

  1. Damage to or breakdown of specific items of plant and machinery.
  2. An inspection service of specific items of plant and machinery.
  3. Cost of repair of properties belonging to the insured affected by damage or breakdown of a specific feature of machinery.
  4. Legal liability for injury caused by damage or breakdown of specific items of plant and machinery.
  5. Legal liability for damage to property of others caused by damage or breakdown of plant and machinery.



The engineering insurance is grouped under the following headings.

  1. Boilers and pressure: These include steam boiler, steam receiver, economizer, super heaters, steam pipes, baker oven, air receivers and other pressure vessels which are divided according to the works intended to perform.
  2. Engine plant: This is the insurance that deals with gas or oil engines, diesel engines, air compressor pumps, hydro extractor, fans, gas producers,plants, large refrigerating plants and other miscellaneous plants subject to mechanical breakdown.
  3. Electrical plant: These include electric motor, transformer, turbines, switch board, rectifiers and all kinds of equipment like rotating plants (motor generator) or stationary plants (transformer).
  4. Lifting machine: It involves insurance for all types of cranes, tractors, dumpers, passenger goods and services lift, excavator and other types of lifting appliances.
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