Drone Insurance
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FAQs

What is an “open pilot warranty”?

An open pilot warranty is a clause in many aircraft insurance policies, which allows pilots with certain minimum qualifications to fly the aircraft on an occasional basis without being named to the policy

Can I change my deductible to lower my premium?

In nearly all cases, aircraft insurance companies have moved to a fixed deductible, which cannot be changed by the insured in exchange for premium credit. The exception to this, may be the aircraft with a very high insured value (one million dollars plus), in which case a higher deductible may be negotiated.

I have more flight experience now, why did my premium increase?

Pilot experience is only a part of the rating equation. Also factored in, are loss ratios for the general aviation fleet, loss history on the risk involved, geographic location, claims related expenses (especially the price of parts), loss history by aircraft type, and competitive pressures among insurance companies. It is very possible to have received additional credits for flight experience and yet see an overall premium increase, if the other rating factors negatively affected your insurance premium.

I have more flight experience now, can I receive a rebate on part of my insurance premium?

Aircraft insurance contracts are written and priced on an annual basis. Midterm credits are not given

Why do prices vary so much between companies?

As in most cases, the devil is in the details. Every insurance contract is different, especially when it comes to coverages. Be sure to read your insurance contract to make sure you are getting all the coverage you need. In the event of a claim, the amount of your premium will be the furthest thing from your mind, what will be important to you is whether or not you were properly covered.

Also, competitive pressures in the market place often produce wild rate swings. Any company needing or wanting to build market share can do so by under-pricing the risk for the first year. If you have multiple quotes for your aircraft insurance and one premium amount is substantially lower than the others, you should ask yourself some questions. Does the cheaper company insure substantially safer pilots than the others (probably not)? What will happen to my insurance rate in subsequent years? What will happen to the marketplace if insurance companies are unable to sell their policies at prices necessary to pay the claims?

How much coverage should I buy?

For liability coverage, as much as is available and you can afford. For nonowned hull coverage, it depends on the value of the aircraft you typically rent and whether or not you want to fully be covered in the event of a total loss.

I just had an accident, what do I do?

It is important to protect your aircraft from further damage and to prevent it from becoming a safety hazard to others. That means the aircraft can be moved if necessary and a guard can be hired to stay with the aircraft if there is risk of avionics theft.

Do not admit fault. Do not discuss the accident with anyone except AirSure Limited, your insurance company, and government officials (FAA, police, etc). At the time of an accident you cannot know all of the circumstances that may have contributed to it, that information will come out of the investigation.

Notify AirSure Limited promptly by calling (303) 526-5300 or (303) 807-7130 (928)710-5522 and ask for B.J. Goodheart.

For further information please refer to our claims section.
What will I have to do during the claims process?

Provide the insurance company with any documents that they request (aircraft logbooks, pilot logbooks, estimates, photographs, sworn statements, etc) as promptly as possible. You will be an integral part of the claims settlement process, make sure you and your adjuster are communicating regularly. The most frequent cause of a delay in the claims settlement process, is that the insurance company did not receive previously requested documents from the insured.

I had a claim, what is going to happen to my insurance rates?

That depends on many factors. We cannot adequately address all possible scenarios here. It is fair to say however, that in most cases aircraft insurance companies do not surcharge for a claim, especially if it was not pilot related. The risk is either acceptable to them or not acceptable to them. Premium surcharges are unlikely to do much in the way of recovering aircraft accident claim costs. If a pilot shows particularly bad judgment (e.g. runs out of fuel) then the insurance company may be unwilling to renew or may offer coverage only at a much higher premium level. It is also possible for the renewal premium to increase even if the insurance company did not attach a claim surcharge because aircraft insurance rates change all the time.

When it comes to Liability Coverage, what are the differences between “split limits”, “Combined Single Limit” or “smooth” coverage and “sub-limited” coverages?

Some policies place a limit on the maximum coverage they provide for Bodily Injury and Property Damage. These "split limits" appear on the policy as separate amounts. For example: $100,000 property damage, $100,000 bodily injury, $200,000 each occurrence. This is an older form of liability coverage and most insurance companies no longer write "split limits."

Combined Single Limit coverage, also known as "smooth limits," combines your coverage for both Property Damage and Bodily Injury per occurrence into a single limit with no further limitation. In other words, regardless of whether the claim against you arises from injuries or death to persons or from damage to other's property, the amount of protection you have is the total Combined Single Limit. It is usually expressed as a single number, for example: $1,000,000 each occurrence. In general this type of coverage provides more protection when compared to sub-limited coverage, but it is also more expensive.

The most common liability coverage is a sub-limited coverage. Sub-limited liability coverage is also a Combined Single Limit coverage, but it places a limitation on your coverage for a specific loss in the form of a lower amount than the each occurrence amount. Most commonly, these sub-limits apply to all or a type of Bodily Injury. For example, $1,000,000 each occurrence limited to $100,000 per person places a maximum amount of coverage for death of or injuries to any person at $100,000. This amount is part of, and not in addition to, the $1,000,000 each occurrence limit.

Sub-limits may also be worded on a per passenger basis. This wording provides superior coverage over the per person wording since it only reduces coverage on passengers. A per person limit reduces your coverage for bodily injury to all persons.