PARCAP announces UAV Insurance alliance

Discussion in 'Announcements' started by Gary Haynes, Sep 30, 2013.

  1. Gary Haynes

    Gary Haynes Administrator
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    The Professional Association of RC Aircraft Pilots (PARCAP) announces an insurance coverage alliance with Costello Insurance.

    Many of the PARCAP members with business uses for their UAVs have attempted to find affordable insurance coverage with little success.

    PARCAP is announcing that Costello Insurance Associates, a long time general aviation insurance agency with a long time background in specialty aircraft arenas (they administer the Soaring Society of America’s group plan) is affiliated with insurance carriers interested in offering policies to owners of “business use” UAVs.

    The policies are currently for liability only. The challenge with coverage of the actual UAV for damage or loss is that there is not enough data since this is an emerging market for insurance companies. Physical Damage (aka Hull) coverage may become available in the future.

    Subject to acceptable underwriting, Costello’s insurers can provide liability insurance for Owner/Operators of both commercial and non-commercial operations. They cannot cover ‘model aircraft’ which have only Pleasure uses. The interpretation I have gotten in talking with Pat Costello, the owner, is that if you are using the UAV for business purposes, be it for hire or for other non-hire business uses, that they can cover your operations. Examples of business uses would be Aerial Photography for Hire or Real Estate Aerial Photography. Of course these are just a few of the business operations they will consider.

    Annual policies are sold with liability limits of $500,000 or $1,000,000. The pricing seems more than competitive.

    To request a quote simply complete a Costello Insurance survey form from their website. http://www.aviationi.com/DroneUAVHome.htm

    As a long time glider pilot, I exclusively used Costello through the Soaring Society of America insurance program. Andy Johnson-Laird, V.P., also used Costello for his DG-400 motor glider. Pat’s reputation is top notch and I can personally recommend him and his company.

    Here’s a bit about Costello Insurance.

    Are you the operator of unmanned aerial vehicles (UAVs/Drones)?
    If yes, then you may need liability insurance. We’d appreciate the opportunity to assist you!

    Costello Insurance Associates, Inc. has been in business since 1991 and is licensed to place aviation insurance in 49 states. We represent nearly all the aviation insurance carriers. The owner, Pat Costello, is a flight instructor with nearly 4,000 hours. He understands the insurance needs of those involved in any form of aviation. We can provide no obligation quotations for UAVs with Business uses. Simply access our UAV website and complete a quotation survey or give us a call!

    If you are looking at liability insurance for your Business use UAV please check with Costello Insurance and let them know you are an active member of PARCAP!

    Gary Haynes .........................Pat Costello
    President ..............................Owner, Costello Insurance Associates, Inc
    www.parcap.org ...................www.aviationi.com
    gary.haynes@parcap.org .......mailto:insure@aviationi.com
    ............................................800.528.6483
     
  2. Paul conto

    Paul conto Member

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    You already stated this wouldn't cover airframe, yet, but what about cameras? I currently don't own a video DSLR or better camera so I use other peoples and will be flying a RED soon. Would this cover any claim for the cameras that are not my own?
     
  3. Gary Haynes

    Gary Haynes Administrator
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  4. Andy Johnson-Laird

    Andy Johnson-Laird Administrator
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    Also the Professional Photographers of Americas offer affinity programs. I suspect there will be counterparts for videographers.

    Andy.
     

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