In the unfortunate event of damage to your aircraft, hull insurance should pay for repairs, but unless you have additional Diminution of Value protection, it will not cover the loss created by documented damage history.
I was personally involved in determining a Diminution of Value claim on a GIV-SP that experienced a forward bulkhead incursion during a “D” Check. A technician did a gear retraction test while the aircraft was on jacks and the nose gear was partly disassembled. A nose gear component was driven into the flight deck causing additional damage to the Avionics.
Even though the aircraft was completely repaired in accordance with Gulfstream Engineering and recertified by Gulfstream, the Market Value of the aircraft dropped by $1,245,000. Jeff Wieand, a Business Jet Traveler columnist, reports on what you need to know. Read the article.