How Do I Know if I Need Aviation Insurance?
It isn’t just aircraft owners who come to us for aircraft insurance solutions. At BWI, we also provide insurance policies for those who rent aircraft, use a friend’s or school’s aircraft while learning to fly, own a hangar, or own and operate a high-end drone for professional use. We insure everything from drones to seaplanes, helicopters, experimental aircraft and jets and commercial aircraft operations.
What Are the Risks of Operating an Airplane?
You’ve undoubtedly heard that flying is much safer than driving. This is true: According to the National Safety Council (as quoted in this article on Fortune.com), Americans have a 1 in 114 chance of dying in an automobile, but only a 1 in 9,821 chance of dying in air and space transport accidents.
Although aircraft provide a statistically much less risky way to travel, they are much more expensive than cars. That means that they are much more expensive to repair in the event of a loss. For that reason, having the right level of aircraft insurance in place is essential for anyone who owns or operates an airplane. At BWI, we can help you determine what type of coverage you need to protect your aircraft, your business and your peace of mind.
Aviation Insurance is not required for flying Unmanned Aerial Vehicles (UAVs), otherwise known as drones, so how do you know whether you need insurance? If you’re simply flying inexpensive drones around your property as a hobby, with or without a camera, in most cases you will not need insurance.
However, drones can be an expensive investment that you don’t want to lose. If you are a drone enthusiast, or you’ve invested in a high-end drone for your business, Drone insurance is a small but valuable purchase that will help to protect your investment and set you apart from your competitors.
Whether your drone is for business or personal use, insuring your UAV will protect you in the event that you damage your drone or it’s payload, or cause bodily injury or property damage to others. It’s wise to choose the best insurance that covers circumstances involving drones, such as the drone insurance available through BWI.
Statistics on the Risks Associated with Flying Drones
Drone or UAV piloting is a very popular activity in the United States, with the number of hobbyist drones expected to surpass two million by 2020, and the number of drones in the sky expected to reach more than seven million. However, there are risks associated with this popular hobby and sport.
Every drone pilot, from hobbyists to enthusiasts, runs the risk of having an accident. Whether you fly UAVs for personal, business, or competition, it’s important to be aware of the risks and have sufficient insurance to protect yourself.
Some of the most common risks for drone pilots include:
- Property damage to either public or private property
- Bodily Injury to others
- Invasion of privacy claims, if your drone is equipped with a camera
Collisions or near-collisions with planes is another issue facing drone pilots today. Although this type of accident is not common, there have been more than 300 “near-collision” incidents with drones and airplanes in the U.S., and nearly 30 instances of manned aircraft having to change course and maneuver around a drone to avoid a collision since drones became popular.
The Best Aircraft Insurance for Airplanes, Drones and More
If you’re an aircraft owner or operator, or a drone hobbyist or enthusiast, it is imperative to protect yourself and your investment with insurance coverage from BWI Aviation Insurance. We’re committed to offering you great policies at great prices — and your peace of mind comes free with purchase.
Are you a drone enthusiast? Although it is not required by law in the United States, having reliable UAV insurance can save you a lot of money. Here at BWI Aviation Insurance, we believe our customers should receive great services and great rates; this includes UAS insurance. Our policies will help protect your device should it crash or destroy property.
Drones are expensive. Having a good insurance plan for your drone can help you save after an accident. We have helped many different drone industries. From photography to those flying as a hobby, BWI is the go-to aviation insurance company for drone pilots. If you require drone insurance that will provide you with peace of mind, choose BWI.