Drones are one the fastest growing technologies in the world and insurance coverage is generally established on a per drone basis … which can be a lot to manage for large operations.
Take a breath, we can help. By providing our clients with all forms of aviation-related insurance services, we can find coverage for all types of aircraft and aviation-related businesses, including helicopters, FBOs, charter operators, flight schools.
For example, are you ready for the FAA “Small Unmanned Rating” compliance? Manufacturers and operators alike need to have the proper coverage. Let us help you navigate the complexities of aviation insurance.
Our commitment to customer service includes cutting-edge programs built to cover a variety of aviation needs. We can provide solutions as simple as a privately owned Cessna, or as complex as a multi-million dollar corporate Gulfstream.
OnMarket Insurance Associates will provide you with expert service for all of your general aviation and specialty aircraft requirements.
Keyterms to Know about Aviation Coverage …
Hull Coverage
Property damage to an aircraft a business entity owns or operates is excluded under the Insurance Services Office, Inc. (ISO), commercial general liability (CGL) policy by way of the damage to property exclusion, which precludes coverage for property damage (PD) to property in the insured’s care, custody, or control (CCC). Thus, many aircraft insurance policies include physical damage or “hull” coverage.
Hull rates are usually below 10%, but aren’t offered on home built drones or when the majority of flights are over water. Hull coverage may also be written as a separate policy. Coverage may apply on a named perils or an open perils/all risks basis. Hull coverage is typically subdivided to address aircraft while in motion and while not in motion.
Personal & Advertising Injury (Privacy Insurance)
A few providers offer this coverage, but at an additional premium charge. This covers users in the event of a lawsuit over published images.
Named Operator Only
Underwriters generally approve each operator on a case by case basis depending upon their experience and training in this industry. Additionally, manned aircraft flight time is considered a plus.
Coverage Limitations
The safety of everyone in the proximity of drones is the most important when it comes to insurance coverage, so often insurance applications are not approved. For instance, operating drones over crowds and/or indoors is often excluded.
Corporate Aviation / Industrial Aid
Aircraft owned and operated by companies maintaining a fleet of aircraft flown by professional flight crews. Coverages can include, but are not limited to hull, liability, expanded territories, and extensive coverage enhancements.
Charter Services
This includes aircraft operating under the guidelines of the FAR 135 certificate, including passenger and cargo for hire. Other uses which fall under this area would include, but are not limited to: power line / pipeline patrol, aerial photography, aerial advertising, predator control, fish spotting, and fire patrol.
Helicopters
We can provide coverage for a wide spectrum of uses for helicopters, which include, but are not limited to: industrial aid uses, pleasure and business uses, commercial charter, instruction, sightseeing, movie filming, Electronic news gathering (ENG), traffic patrol, fire patrol, control burning, animal herding, predator control and frost patrol.
Airport Property & Liability
We can help you choose from a wide range of Airport coverages, and we can also arrange extensive coverage for Fixed Based Operations including; Repair and Service, Parts (not installed), Sale of New and Used Aircraft, Sale of Fuel & Oil, Contractual, Independent Contractors and Premises Medical.
Special Risks
Defined as a unique class of aircraft with specific risks requirements, which could include:
Military Surplus Aircraft
Experimental Aircrafts Derived from Kits
Antique Aircrafts Built 1903 – 1954
Classic Aircrafts Built 1955 – 1960
Seaplanes
Special Aircraft for Air Racing, Air Show Performers & Other Competitions
Let us assist you in reviewing your current policies for potential exposures and then recommend solutions that will keep you protected. OnMarket Insurance Associates work exclusively with insurance partners to cover a wide variety of aviation-related risks.
Any questions?
Can you Cover Private Jets, like for Sports Teams?
Yes, we can write a policy that covers your sports team to protect both Property & Casualty needs. Plus our team will provide you with high-quality and value-driven service insuring your Private Jets, Team Charters and or Non-Owned Aviation Risks. We can even talk to you about Workers’ Compensation exposure, which you may not have thought would come into play.
What Do I Need to Do to Make Sure My Aircraft is Compliant?
- Register your aircraft with the FAA and mark the aircraft appropriately
- Check out drone registration here: http://federaldroneregistration.com/registrationform
- Here is a list of the all drones requiring registration: http://federaldroneregistration.com/requireddronestoberegistered
- Pass an initial aeronautical knowledge test through an “FAA-approved knowledge testing center”
- OR, if you already hold a Part 61 certificate (often referred to as a pilot’s license), pass an online course at www.faasafety.gov
- Conduct preflight checks to ensure that UAS are in safe operational condition
- Upon request, supply your SUAS to the FAA for inspection and testing
- Report to the FAA within 10 days of any incident resulting in serious injury or property damage exceeding $500 (not including damage to your aircraft)
What are Three Values Held by Your Team that Will Enhance My Aviation Coverage?
Our technical expertise on coverage, limits and industry trends means that we are thinking about ways that you are susceptible to risk that other companies may not even consider. We will also provide you with superior customer service because we LOVE people! For the life of your business with us, we will support you through making claims, client coverage updates, and providing you with timely information pertaining to Aviation Insurance. Plus, our dedicated relationships with insurance providers across the country enable us to quickly deliver the most comprehensive and competitive programs available in the marketplace.
