If an underinsured aircraft has been declared a total loss, the owner will not have enough money from the claim settlement to replace the aircraft with one just like it. Keep in mind that the more an aircraft is underinsured, the more likely the insurance company will declare it a total loss if it's substantially damaged. To avoid either overinsuring or underinsuring, have your agent evaluate the aircraft's value each time your policy comes up for renewal. This coverage pays the immediate medical expenses for injuries sustained in an accident. It also covers injuries that occur while entering or leaving the insured aircraft.
Most insurance companies offer medical payments coverage on their liability policies.
Because its purpose is to pay for initial medical treatment, most policies have a time limit on the medical services provided. Carrying medical payments coverage on your policy is a good idea because it covers the smaller injury claims without filing a claim against your bodily injury liability coverage. Additionally, it can pay expenses not covered by your personal health insurance. A misleading statement or false information on an application could result in a claim denial. This should be confirmed by reviewing the individual's pilot logbook.