Buying UAV insurance… A quick reference guide.

Insurance is a minefield; you don’t know you have made a mistake until it’s too late, so we thought we would put together a quick reference guide to help you through the process. When looking at buying UAV insurance there are a number of things to consider:-

Does it meet the minimum requirements set down in EC785/2004, the European directive with which the CAA in the UK base their minimum requirements for commercial air usage? Most aviation policies will cover the minimum requirements and the CAA will not check your policy wording when you send in your operations manual. There are policies in the market which do not cover the necessary extensions like war and allied perils, which are necessary to meet this minimum requirement. Not having the minimum level of cover is a breach of EU and UK commercial aviation regulations.

Does it restrict where I can fly, who I can work for and what kind of work I can do? Some policies have restrictions which can mean you have to turn work down or run the risk of not being insured. Check the exclusions and think about what work you may get offered to do over the next 12 months. Also check the territorial limits; can you work abroad or at sea?

What are the excesses? You will have an excess for the physical damage you can do to your UAV equipment and also one for liability claims which is the damage you do to other people or their property, check what these are. It may prove a false economy to go for a cheap premium and end up paying more out in the event of an incident.

Am I to be charged Admin fees? During the period of insurance, you may need to make changes. Does the provider charge you for every amendment you make? Some do, they may charge a set fee for every amendment, 3 equipment changes and a change of address may cost you 4 separate administration fees which could add up to a decent amount.

What extras does it have? Does it cover any extras or bells and whistles, the individual providers will tell you about their specific policies, but it is worth noting that there are some interesting extensions available in the market.

Do you get a no claims reward? Some policies have a discount, or rebate if you are claims free, it’s worth factoring this in at the outset as it may influence which policy has the best overall value.

Check the cancellation charges!!! If you need to cancel your policy for any reason, can you claim a refund for the period not used? Some policies offer a pro rata refund, some charge short period rates, some offer no refund at all. The best advice is to ask the question.

You do get what you pay for, but some operators may not need extras, so understand the value of a product and the impact it may have on your business over the 12 months, there are specialist brokers in the market providing great levels of cover, if you are lost, need some advice or just want a chat through the options, you can talk to our team today! click here or call 0845 2163000