Florida Insurance Licensing Practice Exam

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Prepare for the Florida Insurance Licensing Exam using comprehensive questions and in-depth explanations. Perfect your understanding of essential insurance concepts and ensure your success!

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What is the coverage for damage to an aircraft under the care, custody, or control of the insured while the plane is in for storage or service called?

  1. Hangarkeepers liability

  2. Aircraft storage insurance

  3. Property damage liability

  4. Custodial liability

The correct answer is: Hangarkeepers liability

Hangarkeepers liability provides coverage for damage to an aircraft while it is in for storage or service and under the care, custody, or control of the insured. Option B, aircraft storage insurance, is incorrect because it only covers damages to the aircraft while it is in storage, not while it is also in for service. Option C, property damage liability, is incorrect because it covers damage to other people's property, not damage to the aircraft itself. Option D, custodial liability, is incorrect because it covers damages to a person or their property while under the care of the insured, not damage to the aircraft.

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