Tag Archives: Aircraft insurance

Drones? Let’s talk drone insurance.

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Let’s talk drones.

Drones, now that you have one what do you do with it? There are only so many videos of your yard or your roof you can take. So you start taking videos for other people, making money by making videos.

Being Paid.  Good idea, but if you are being paid to fly your drone you will be considered commercial by the FAA and the insurance underwriters.

No liability coverage. That means the liability that is included with your home owners insurance or any liability coverage you may have as a member of the Academy of Model Aeronautics will not cover your commercial flying.

That’s where we come in.  We have been specializing in the aviation insurance business for over 30 years.

Aviation Insurance Companies. And many of the aviation insurance underwriters are providing coverage for the drone industry (and have been for a number of years).

The basics of drone insurance.

Most important coverage you will need is the liability coverage for property damage and bodily injury.

What is liability? If you cause an accident, or have an accident that damages a third parties property or injures someone, liability is the coverage you will need.

Why do you need it? Often a company that hires you will require you to have liability insurance.

Premiums

Premium averages around $700 for 1 million dollar policy for property damage and/or bodily injury. Lower and higher liability limits are available.

Drone hull coverage. If you need the drone itself insured, I would call that drone hull coverage. As a guideline, drone hull coverage rates average 5% of the equipment’s value with 5% deductibles.

Example – a $3,000 hull value for the drone and camera would be about $150 in premium (plus the liability of $700) for a total annual premium of $850.

Should you buy hull coverage? Whether you buy hull coverage kind of depends on the value of your equipment and what you are willing to risk.  Many opt for the liability only option.

Premiums are average and can change based on the pilots experience, type of drone and how it is used.

Do you need a 333 No you don’t need the 333 Exemption, Part 107 or a pilot license to buy insurance. Although each company has different requirements and those requirements could include additional training, naming a licensed pilot (107 or other), copy of your 333 filing, etc.

Check out my YouTube video here.

drones

AMATEUR-BUILT AIRCRAFT ACCIDENT TOTALS DROP TO HISTORIC LOWS

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FOR IMMEDIATE RELEASE

AMATEUR-BUILT AIRCRAFT ACCIDENT TOTALS DROP TO HISTORIC LOWS

EAA safety efforts contribute to steady decline while flight hours increase

EAA AVIATION CENTER, OSHKOSH, Wisconsin — (November 16, 2017) — Fatal accidents in experimental category aircraft, particularly amateur-built aircraft, continued their decline during the Federal Aviation Administration’s 2017 fiscal year that ended September 30, falling to historic lows.

For the 12-month period from October 1, 2016, to September 30, 2017, fatal accident totals in amateur-built aircraft were down 18 percent to just 27, compared with 33 during the 2016 fiscal year. That continues a four-year trend that has seen a total drop of 47 percent in fatal accidents, despite an increasing amount of flight hours each year over that period. The specific totals compare to 40 amateur-built aircraft fatal accidents during the 2015 fiscal year and 51 in the 2014 fiscal year.

In addition, fatal accident totals for the experimental category overall, including racing aircraft, those used for exhibit only, research-and-development, and some types of light-sport aircraft, dropped as well. Total fatal accidents fell from 49 to 45 during the 12-month measurement period ending September 30, 2017. The final figures are nearly 25 percent below the FAA’s “not-to-exceed” goal of 59 fatal accidents for that period.

“These are historic lows for fatal accident in amateur-built aircraft and this continuing trend is a credit to everyone who is focusing on safety,” said Sean Elliott, vice president of Advocacy and Safety for the Experimental Aircraft Association (EAA), who highlighted these figures at the FAA General Aviation Safety Summit in late October. “The overall fatal accident numbers remain much lower than other recreational pursuits, such as paddle sports, skiing and snowboarding, and driving all-terrain vehicles. Statistics even show that being involved in a fatal amateur-built aircraft accident is less likely than being killed in a lightning strike incident.”

EAA has worked closely with the FAA and the National Transportation Safety Board on recommendations to reduce fatal accidents, including through participation in the FAA General Aviation Joint Steering Committee that EAA co-chairs. The EAA focus has also included the Founder’s Innovation Prize competition that seeks innovations to reduce loss-of-control accidents in amateur-built aircraft; a focus on transition and recurrent training; and use of an additional safety pilot during initial flight testing in amateur-built aircraft.

“These efforts build upon EAA’s longstanding Technical Counselor and Flight Advisor programs, and additional safety materials available through EAA’s flagship Sport Aviation magazine,” Elliott said. “Further reducing the accident totals is a continuing challenge, but one that is foremost as part of EAA’s mission to grow participation in aviation.”

About EAA

EAA embodies the spirit of aviation through the world’s most engaged community of aviation enthusiasts. EAA’s 200,000 members and 1,000 local chapters enjoy the fun and camaraderie of sharing their passion for flying, building and restoring recreational aircraft. For more information on EAA and its programs, call 800-JOIN-EAA (800-564-6322) or go to www.eaa.org. For continual news updates, connect with www.twitter.com/EAA.

EAA-2017-45, For more information, contact: Dick Knapinski, EAA Communications, (920) 426-6523  dknapinski@eaa.org

 

Dual required, what do I do?

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Dual required – what do i do?

Dual Required? I am finally buying the airplane I have wanted, but I need training.  My insurance company is requiring that I get  5 hours of dual in my new airplane.  How do I get it home if i have to do the training first?

Answer

An underwriter will require dual when he feels a pilot has insufficient make & model time to proficiently pilot that aircraft. Often, the underwriter will require dual hours and solo time prior to carrying passengers. The requirements depend on the aircraft model, landing gear and horse power. The CFI will need to meet the Open Pilot Warranty or be approved by the underwriter prior to the flight.

Many people find a local CFI and take them along to pick up the aircraft. The ideal CFI is also an A&P and can perform a brief “pre-buy” and give dual instruction all the way home.

Alternatively, you might check with the seller or the local FBO to find a CFI on the seller’s field.  You could also hire a qualified pilot to bring the aircraft to you or have the seller deliver it.

Dual required