COMPONENT DAMAGE Protection INSURANCE

What Is It?

 

Component Damage Protection (CDP) is an industry-first insurance product designed to reimburse an aircraft owner for ‘depreciated’ loss payments incurred under the aircraft physical damage insurance policy.

 

In the event that a damaged or destroyed Component or Part has a predetermined “life-cycle” resulting in a ‘depreciated’ loss payment, CDP would reimburse the difference between the ‘depreciated’ loss payment, and the ‘actual’ cost of a new part or component.

 

 

Who Is Protected?

 

Individual aircraft owners having a financial interest in the aircraft.

 

 

Problem Solved:

 

An individual aircraft owner suffered a bird ingestion to an engine, resulting in several fan blades being destroyed.  The fan blades were 50% through the established life cycle.  The aircraft hull insurance policy recognizes only 50% reimbursement for new replacement fan blades.  This product reimburses the aircraft owner for the remaining 50%

 

Quote Request - 1-386-767-1200

** Aviation insurance and related insurance products serviced and available via SterlingRisk of Florida, Aviation Division.

Subscribe to our newsletter

Contact Flight Support Group

Phone: 1-386-767-1200

Email: Info@FlightSupportGroup.com

 

Address:

100 Starport Way

Sanford, FL 32773