Owner's Policy Coverage
The EAGLE Protection Aircraft Owner's Policy provides protection against the following:
In certain circumstances, supplemental coverage may be obtained with the payment of additional premium. Optional coverage may be purchased for the following:
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Additional state and federal tax lien coverage up to the value of the aircraft
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Foreign title claims on imported aircraft
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Closing letters
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Titles to engines
Ownership Disputes
The EAGLE Protection Aircraft Owner's Policy insures that you own your aircraft. This goes beyond simply insuring that the FAA registration records are accurate. It means that even if the records are not accurate, you are covered against anyone else claiming ownership.
Cape Town Coverage
The Cape Town Convention applies to almost all U.S. aircraft transactions that close on or after March 1, 2006. It is especially important to someone who is purchasing an aircraft because failure to comply with the Cape Town Convention could result in a loss of good title to the aircraft. Furthermore, because this law is new, untested and subject to a variety of interpretations, many owners and buyers are not sure what, where or how to file in order to comply with the FAA and Cape Town Convention. The [--policy--] provides peace of mind -- and coverage -- that your ownership rights are protected and perfected under both the FAA and the Cape Town Convention. Many prudent buyers are now making title insurance part of their closing requirements.
Document Forgery
Coverage is provided if a forgery is discovered anywhere in the chain of ownership to the aircraft and the true owner surfaces.
Purchase of Stolen Aircraft
A stolen aircraft can be sold using data plates or serial numbers from dismantled aircraft never retired from the FAA's system. You are covered should you unknowingly purchase a stolen aircraft which the rightful owner later claims.
Fraud or Duress
Similar to forgery, this coverage protects you in the event that any transfer document in the chain of aircraft ownership is not valid because it was obtained by fraud, undue influence or duress.
Incompentence or Incapacity
Coverage is provided when any document transferring ownership was signed or delivered by a person who was legally incapable of completing the transaction because of age, incapacity, or lack of partnership, corporate or trust authority.
Defective Filing or
Recording of Documents
This coverage protects you against any filing or recording problems, as well as any defect in any filed or recorded document necessary to your ownership of the aircraft.
Post-Policy Forgery
We will protect you if a person claims to own or have a mortgage on your aircraft because someone forged your signature.
Unrecorded State, Local and
County Tax Liens (up to $25,000)
Coverage for up to $25,000 is provided against unexpected state tax liens that did not appear in the FAA registration records.
Federal Tax Liens (up to $250,000)
Coverage for up to $250,000 is provided against unexpected federal tax liens that did not appear in the FAA registration records.
Labor or Materialman's Liens (in most states)
We will protect you against non-possessory labor or materialman's liens claimed for payment of services, labor or materials furnished to the aircraft prior to the policy date, which you did not create or agree to pay. With limited exception, we will also protect you from post-policy labor, service or material providers asserting a claim.
Foreign Deregistration
You are protected against claims that the aircraft's United States registration is invalid because it was not properly removed from a foreign registry.
Gap Coverage
Sometimes material cannot be retrieved from any recording system, including the FAA's, immediately after its submission. At the FAA this "blind spot" can last several hours, and could pose a risk to your interests. This risk is covered by the EAGLE Protection Aircraft Owner's Policy.
Foreign Title Claims on Imported Aircraft
Protection against title attacks from foreign lien holders asserting their claims in the United States may be obtained through a separate endorsement.
Owner's Breach of Title Warranty
Litigation Expenses
We will defend your title in any court case filed in the United States for a risk that is insured against by this policy, covering all costs and expenses we incur.