Discussion 4.1.docx - Topic 2 For each of the following events indicate whether the event would cause you to consider its effect on your current

Discussion 4.1.docx - Topic 2 For each of the following...

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Topic 2 For each of the following events, indicate whether the event would cause you to consider its effect on your current aircraft insurance policy and explain why: 1. You have spent several thousand dollars to upgrade the aircraft’ s avionics. In this specific event, where I have spent several thousand dollars to upgrade the aircraft’s avionics, I would update my aircraft insurance policy to reflect the amount of money that is applied to my aircraft. As improvements made to the aircraft, such as added or updated avionics equipment, may have substantially increased the value of the aircraft and the cost to replace it with a comparable aircraft (Hamilton, 2015, p. 143). Therefore, the value stated in my hull coverage should be increased to reflect that increase in value (Hamilton, 2015, p. 143). 2. You are going to allow another pilot to fly your aircraft. This will affect my current aircraft insurance policy because assuming that the pilot meets the pilot qualification requirements or known as the open pilot warranty, allowing
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