[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR198.7]



[Page 314]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 

                               (CONTINUED)

 

PART 198_AVIATION INSURANCE--Table of Contents

 

Sec. 198.7  Amount of insurance coverage available.



    (a) For each aircraft or insurable item, the amount insured may not 

exceed the amount for which the applicant has otherwise insured or self-

insured the aircraft or insurable item against damage or liability 

arising from any risk. In the case of hull insurance, the amount insured 

may not exceed the reasonable value of the aircraft as determined by the 

FAA or its designated agent.

    (b) Policies issued without premium may be revised from time to time 

by the FAA with notice to the insured, to add aircraft or insurable 

items or to amend amounts of coverage if the insured has changed the 

amount by which it has otherwise insured or self-insured the aircraft or 

itself.