Helicopter Insurance

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Helicopter Insurance Policy Information

Helicopter Insurance

Helicopter Insurance. Whether you use a helicopter to escort clients on personal business trips, sightseeing tours, or to perform search and rescue missions, while these versatile machines are certainly beneficial, they also pose certain risks.

From injuries to accidents, and from damage while landing or from storms, there are a number of risks that you can be exposed to as a helicopter owner and operator. To protect yourself from those risks, making sure that you are properly insured is an absolute must.

Helicopter owners rent or charter helicopters for rides, lessons, and tours. They may offer aerial services for news and weather reports, aerial photography, emergency services in remote, rural, or hard-to-reach areas, emergency services during natural disasters, medical emergency transport, rescue services, police services, traffic control services, lifting services for construction operations, and military operations.

All pilots must have Federal Aviation Administration (FAA) licensing for the type of aircraft being flown. Helicopters vibrate during operation. Without ongoing maintenance, critical parts can come loose. Strict compliance with FAA standards for the type, maintenance, and use of the aircraft is critical.

Helicopter drones, or unmanned aerial vehicles (UAVs), may be used in some commercial processes where a small craft is needed.

Why is helicopter insurance so important? What does this customized insurance cover? Read on to find out the answers to these questions and more.

Helicopter insurance protects owners and pilots of helicopters from lawsuits with rates as low as $87/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked helicopter owner and pilot insurance questions:


How Much Does Helicopter Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small helicopter operations ranges from $87 to $109 per month based on location, pilot experience, claims history and more.

Why Do Helicopter Owners And Pilots Need Insurance?

Helicopters

While a helicopter can be used in a myriad of ways and can be very reliable, it can also be dangerous; not to mention the fact that there are a number of things that can go wrong with a helicopter - from sustaining damage while landing to being damaged by vandals.

As the owner and operator of a helicopter, you are liable for anything that does go wrong. For instance, if you run sightseeing tours and one of your clients suffers an injury while boarding your helicopter, you could he held responsible for any medical care that the individual requires and any lawsuits that may be filed against you.

The same is true if your helicopter were to suffer damage in a storm or an act of vandalism or an accident; you would be responsible for any of the repairs that the machine would require.

As you can imagine, the costs that are associated with lawsuits, medical care, and repairs can be exorbitant. That's why investing in a comprehensive helicopter insurancee policy is so important.

If something were to happen to your helicopter, instead of paying the related expenses out of your own pocket, your insurer would cover those expenses for you. To summarize, helicopter insurance can help you avoid serious financial losses.

Plus, properly insuring a helicopter is legally required. If you aren't insured, you could be looking at stiff fines, possible jail time, and your helicopter may even be revoked.

What Type Of Insurance Do Helicopter Owners And Pilots Need?

Helicopter insurance, as the name suggests, is specially designed to cover the risks that are associated with owning and operating a helicopter.

For example, if you own a helicopter and rent it out to others, if you own a helicopter and use it for fun, if you use your helicopter to perform search and rescue missions, or if you use it to take clients on personal business or sightseeing trips, for example, you would need to invest in a helicopter insurance policy.

As mentioned, this type of policy provides comprehensive coverage for the variety of risks that are associated with owning and operating a helicopter. Examples of the different types of coverage that a helicopter insurance policy provides includes:

  • General Liability: This insurance provides coverage for any third-party personal injury or property damage claims that may be made against you. For instance, if you were to take clients out for sightseeing tours and they filed a lawsuit against you stating that you damaged their personal property or that they suffered an injury as a result of your helicopter, this part of your policy would help to cover any related expenses, including legal fees and compensation that you may be required to pay out.
  • Hull Insurance: Also known as known as property damage insurance for planes and helicopters, this part of your helicopter insurance policy will cover any damages that your flying machine may experience while grounded or in flight. Examples of damages that it can cover include vandalism, theft, and damage from weather-related events, as well as damages or total losses related to an accident.
  • Passenger Liability: Passenger liability is needed if you transport passengers for any reason.

A well-built helicopter insurance policy will provide you with the coverage options that you need to protect you from the numerous risks that are associated with owning and operating helicopters.

Helicopter Owners' Risks & Exposures

Helicopter Cockpit

Aircraft hull exposure covers the helicopter and its equipment. Pilot error, including failure to consider weather conditions, can result in a costly accident. Pilots must adhere to all FAA regulations, including the need for ongoing physical examinations.

All helicopters must be maintained according to manufacturers' specifications, and records of such maintenance kept in a central location.

Aircraft liability exposure covers injuries to passengers and damage to property of others. A helicopter used to place heavy items, such as an air conditioning unit on top of a building, can drop its load, damaging not only the unit but also the building.

In an emergency situation, timely response is critical. Pilots must meet all FAA regulations, including current licensing, for the helicopter. They must participate in regular training activities to maintain skills.

Helicopters must be maintained and records kept of the maintenance. Crash landings can result in severe injury or death to passengers.

Premises liability exposure is generally limited to waiting areas for customers boarding the helicopter. To prevent trips, slips, and falls, all areas accessible to customers should be well maintained with floor covering in good condition.

Customers should not be permitted near any hazardous activity such as fueling. Observers should be kept away from the helicopter while it is being loaded and released.

Workers compensation exposure is significant. Fire and explosion are a constant concern in a fueling area and from repair operations that include welding or painting. Repair operations involve significant chances for injury due to slips and falls, burns, falling pieces, strains and sprains on backs from lifting and working in awkward positions.

Safety equipment should be required. Propellers and other moving parts can injure an employee during operation. All controls must be in place and carefully monitored. Helicopter crash exposure may be high if used in remote rescue or emergency operations.

Property exposure is generally limited to that of an office. Ignition sources include heating and air conditioning systems and electrical wiring. Hangars used for storing helicopters will increase the exposures, particularly if aircraft are serviced and fueled on premises.

Smoking should be prohibited. Helicopters may be targets for theft or vandalism. The premises should be secure from unauthorized access by others.

Crime exposure is very limited unless the helicopter is used for commercial purposes. If there is commercial use, exposures include employee dishonesty and money and securities. References and background checks should be conducted on all employees.

Monetary transactions must be monitored and audited on a regular basis to prevent employee theft. Money-handling responsibilities should be separated, with no employee handling both receivables and disbursements.

Inland marine exposure includes accounts receivable if there are billings, computers, cameras or other equipment carried on helicopters, and valuable papers and records for customers', regulatory, and suppliers' information.

Business auto exposure is generally limited to hired and non-owned automobile exposure if employees use their own vehicles to run errands for the helicopter owner. If there are owned vehicles, all drivers must have appropriate licenses and acceptable MVRs. Vehicles must be well maintained with records kept in a central location.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 4512 Air Transportation, Scheduled, 4513 Air Courier Services, 4522 Air Transportation, Nonscheduled
  • NAICS CODE: 481111 Scheduled Passenger Air Transportation, 481112 Scheduled Freight Air Transportation, 481211 Nonscheduled Chartered Passenger Air Transportation, 481212 Nonscheduled Chartered Freight Air Transportation, 481219 Other nonscheduled Air Transportation, 487990 Scenic and Sightseeing Transportation, Other
  • Suggested ISO General Liability Code(s):
  • Suggested Workers Compensation Code(s): 7405, 7421, 7425, 7403, 7431

Description for 4512: Air Transportation, Scheduled

Division E: Transportation, Communications, Electric, Gas, And Sanitary Services | Major Group 45: Transportation By Air | Industry Group 451: Air Transportation, Scheduled, And Air Courier

4512 Air Transportation, Scheduled: Establishments primarily engaged in furnishing air transportation over regular routes and on regular schedules. This industry includes Alaskan carriers operating over regular or irregular routes.

  • Air cargo carriers, scheduled
  • Air passenger carriers, scheduled

Description for 4513: Air Courier Services

Division E: Transportation, Communications, Electric, Gas, And Sanitary Services | Major Group 45: Transportation By Air | Industry Group 451: Air Transportation, Scheduled, And Air Courier

4513 Air Courier Services: Establishments primarily engaged in furnishing air delivery of individually addressed letters, parcels, and packages (generally under 100 pounds), except by the U.S. Postal Service. While these establishments deliver letters, parcels, and packages by air, the initial pick-up and the final delivery are often made by other modes of transportation, such as by truck, bicycle, or motorcycle. Separate establishments of air courier companies engaged in providing pick-up and delivery only; "drop-off points"; or distribution centers are all classified in this industry. Establishments of the U.S. Postal Service are classified in Industry 4311; and establishments furnishing delivery of individually addressed letters, parcels, or packages (generally under 100 pounds) other than by air are classified in Industry 4215. Establishments primarily engaged in undertaking the transportation of goods from shippers to receivers for charges covering the entire transportation, but making use of other transportation establishments to effect the entire delivery, are classified in Industry 4731.

  • Courier services, air
  • Letter delivery, private: air
  • Package delivery, private: air
  • Parcel delivery, private: air

Description for 4522: Air Transportation, Nonscheduled

Division E: Transportation, Communications, Electric, Gas, And Sanitary Services | Major Group 45: Transportation By Air | Industry Group 452: Air Transportation, Nonscheduled

4522 Air Transportation, Nonscheduled: Establishments primarily engaged in furnishing nonscheduled air transportation. Also included in this industry are establishments primarily engaged in furnishing airplane sight-seeing services, air taxi services and helicopter passenger transportation services to, from, or between local airports, whether or not scheduled.

  • Air cargo carriers, nonscheduled
  • Air passenger carriers, nonscheduled
  • Air taxi services
  • Ambulance services, air
  • Flying charter services
  • Helicopter carriers

Helicopter Insurance - The Bottom Line

To find out how you can build a helicopter insurance policy that will be customized to meet your specific needs to ensure that you are fully covered from any unexpected events that may arise, consult with a reputable agent who is experienced in commercial aviation insurance.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

Additional Resources For Miscellaneous Insurance

Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.


Miscellaneous Business Insurance

An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.

Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.

Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.

An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.

Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.


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