AIRCRAFT PHYSICAL DAMAGE (HULL) COVERAGE insures the aircraft for damage to it while in the air, while it is in motion or when grounded. Coverage is often provided on an open or all risk type basis that covers all losses except for those specifically excluded. The deductibles vary based on whether the aircraft is in flight, in motion or grounded. Coverage availability and premium vary widely, based on the type of aircraft, its condition and use.
(Use ACORD Form #330, #331, #332 and #333)
Related PF&M Article: Overview of Aircraft and Aviation Insurance