Protection of your assets and the risks of third-party liability should be a primary concern to all renters simply because accidents do happen and we seldom have visibility to them until after the fact. An unwatched pot or overflowing bathtub can cause a great deal of damage to your unit and contents. Tenants insurance covers your contents against losses caused by fire, smoke damage, water damage, vandalism, theft, and many additional perils.

What is the specific protection that tenants insurance can provide?

Contents – Protection for contents in the policyholder’s unit and other personal belongings worn or used by the resident on- and off-premises. If you were able to turn your unit upside down and shake it, whatever falls would generally be considered “contents” whereas whatever doesn’t is part of the building and is not covered. Contents can include, but are not limited to furniture, clothes, televisions, bedding, and dishes. Some restrictions may of course apply.

Personal Liability – If a resident is found to be responsible for causing damage to the building or another person’s property (for example, if a resident accidentally started a fire in their room) or caused bodily injury to another person on the premises, coverage under the policy will respond up to the insured limit to pay legal expenses and compensatory damages subject to the Policy Terms, Conditions, and Exclusions of the policy.

Additional Living Expenses – If as a consequence of an insured loss the tenant’s unit is unfit for occupancy or a resident has to move out their unit while repairs are being made, coverage under the policy will pay the increased expenses up to insured limit incurred by the resident to obtain temporary housing subject to the Terms, Conditions, and Exclusions of the policy. If a resident has to move to a hotel for a few days while their unit is being repaired, these additional costs and increased food costs for restaurant meals may be covered under the Policy subject to the Policy Terms, Conditions, and Exclusions of the policy.

Other Coverages – Additional coverages may be available for earthquake, jewellery, and fine arts. Please check with your insurance broker as required.

Coverages may be subject to a deductible. Please check with your insurance broker for policy specifics.

Additional Benefits

Some tenants insurance policies offer access to value-added services, direct from the insurer, as an additional benefit of the coverage. Novex Insurance Company, for example, offers Novex Assistance – a program designed to provide tenants with services including:

An unlimited legal information telephone help line for advice about property, landlord/tenant relations, employment, contracts, social benefits, licences and permits, inheritances, and family law.

Home care services including housekeeping when property is damaged; babysitting for sick children or grandchildren; babysitting in case of hospitalization; homemaking on return from hospitalization; and visiting nurse.

Please note that home care services are subject to certain limits and conditions. Please ask for details.

Tenants Insurance Programs

Tenants insurance programs exist for a number of different types of tenants that may offer tailored coverage and pre-negotiated preferred rates for insurance. These preferred rates may offer cost savings over retail market tenants insurance offerings.

Building Tenants Insurance Programs – For the benefit of tenants living in certain buildings.

Seniors Tenants Insurance Programs – For the benefit of senior tenants living in certain retirement homes. May specifically include coverages for hearing aids, wheelchairs, or scooters.

University/College Tenants Insurance Programs – For the benefit of their students while living in residence at certain colleges or universities.

In most cases, tenants insurance programs may be supplied without cost to the building owner, retirement home owner, or college/university. Improved property and general liability loss experience may result for the building owners due to the insurer’s ability to subrogate. This may in turn lead to lower commercial insurance rates in future.

Conclusion

Protecting your contents and yourself against liability risk is a prudent step to take regardless of whether you own your home or not. Tenants insurance is a risk coverage often overlooked by renters that can, in many cases, provide significant risk protection at reasonable rates. Ask your insurance broker about the benefits of tenants insurance and learn how little it can cost to cover your belongings and third-party liability risk.

Why UAV Insurance?

Almost everything is insured. Our life, our houses, our vehicles and many more things which we value. The increase in drones, especially among the civilians has given the need to add drones in the list of insured items. If you are conducting business and earning money using drones, it is a wise idea to get your drone(s) insured. Even if you are not earning money and plan to earn in the future, even then it is a good idea to get insured. This will help you prevent paying out of pocket in the event an accident occurs.

Getting drones insured would also be good for your business. Your clients would feel secure and would want to do business with you. This would retain your clients as well as help in bringing new clients.

We all know that the applications of drone use have increased vastly from it’s original military use. Now, people are using drones for commercial use as well as individual purposes. In the near future, you will frequently see drones flying above you. With the increase in the number of drones, accidents are bound to happen. They could crash in a building, in another drone or worse, in a plane. Even now, pilots have reported about 25 near misses with drones. If this is the rate now, imagine what future rates will be?

Moreover, with the stealth nature of drones, many people might get offended when your drone hovers above their house or their office. They could then slap a lawsuit of invasion of privacy. The American Civil Liberties Union has even asked for rules concerning drone use to prevent the society into becoming a ‘surveillance society’. If this is the level of concern now, imagine what it will be in the future.

Types of UAV Insurance:

As of now, if you are not a commercial drone user, homeowner insurance would suffice. The catch is, however, that the drone must be flown over your own property and/or away from the public.

If you are a commercial user of drones, no matter how big your operations are, you will need to get your UAVs insured.

The amount of insurance depends on the use and the country in which it is being insured.

Drone Insurance:

Getting drone insurance is not that easy. You have to prove that you are serious about drone use. You have to prove that you have some sort of expertise in drone flying. This could include copies of operating manuals, records of sale and purchase of drones and drone parts and also proof of training.

Insurance Operations:

The majority of the insurance companies insure drones for the following operations only:

· Agriculture

· Archaeology

· Construction

· Emergency response

· Environment evaluation and monitoring

· Knowledge and information gathering

· Law enforcement

· Movies and documentaries

· Security

· Shipping and maritime

· Sites protection and surveillance

· Traffic patrol and assistance

· Transportation maintenance

Type of accidents covered:

Following are the accidents covered currently with various UAV insurance plans:

· Loss of drone

· Partial or complete damage of drone

· War

· Hijacking

· Terrorism

· Personal injury

· Fire

Cost of Insurance:

Drone insurance is basically split in two parts: liability and hull damage. In the liability type, these are the damages claimed by the third parties whereas hull damage is the damage related to your own drone. Generally, insurance policy for a liability goes up to $ 1 million while for hull damage it can go to $1500 per year. These are general quotes and specific ones may vary from company to company and drone to drone. Some companies provide insurance for liability only while other for hull damage and some for both.

Requirements of Insurance Brokers:

Insurance brokers also have some requirements. Generally, they would need the number of flying hours of the drone. The flying hours should normally be between 50 and 100. The drone owners are also required, in some cases, to hold the FAA 333 exemption. FAA 333 Exemption is a certificate issued by the Secretary of Transportation to operate in the National Airspace System. The insurance brokers also want to know whether the drone is owned or leased. They are curious as to whether the drone is able to automatically store the flight data etc. Lastly, they want to know the areas the drone has been flying and will fly in the future. They also check the website and last but not the least, want to know if any sort of training or certifications have been taken vis-à-vis drones.

Getting Insured:

When getting insured, first decide which company you want to go with. For that, you have to get quotes from several companies. And to get a quote from a company, you need to go to their website and fill out the quote form. The form will ask several questions related to the information about the owner, the type of coverage and the cost of equipment, operational locations and number of hours flown, training levels and number of previous accidents etc. After the form is filled, the particular company replies back with the quote. Once you have several quotes from several companies, you are better able to judge and you can apply to the company of your choice.

Insurance Companies:

Following is the list of some insurance companies who deal with drones. The list does not include all of the companies and might not include the best ones, but they are sufficient:

· Aerial Park

· AIG

· Avion Insurance

· Avalon Risk Management

· Coverdrone

· Driessen Assuadeuren

· Harpenau Insurance Agency

· Sky Smith

· Sutton James Incorporated

· Unmanned Risk Management

So, this was a modest effort to inform you about how to go about getting your drone insured. In recap, those who want to just fly over their homes or clear of public and for recreational purposes do not need to get any type of drone insurance, as homeowner insurance will be sufficient. Those using UAVs for commercial purposes really need to get their drones insured and should consider getting their drones insured right now. Who knows with the passage of times maybe the laws pertaining to drone insurance will get much clearer and conformed across the insurance industry.

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There is no job too big or complex. There are pilots on UAVLance qualified for EVERY aerial need.

Insurance is the financial responsibility that is taken by a firm or person in case you damage someone’s property or cause harm in any way to another person. Insurance is important to own before you drive any manned vehicle and the same is true for unmanned aerial vehicles (UAVs). Insurance is a key aspect of risk management and can help your business get through legal complications resulting from unforeseen accidents caused by your drone.

The owners as well as the manufacturers and operators of drones are finally showing interest in learning about drone insurance. Drones are still in a developmental phase and there aren’t any specific rules and regulations governing their use. Therefore, there are a number of questions in the minds of the people regarding the insurance policies of these aerial vehicles. People want to know how the drone insurance is going to work. The following is a compilation of all the aspects that need to be kept in mind when it comes to drone insurance.

Is Drone Insurance Really Necessary

It is true that right now there are no implications for not having drone insurance. You can fly your drone even if it hasn’t been insured. However, it is becoming increasingly necessary to buy insurance for these aerial vehicles as they can cause some serious damage if they go out of control and cause an accident. Moreover, as the use of these drones increases, the authorities would most definitely make it compulsory for the drone owners to buy insurance before they can start flying them. Therefore, it is a good idea to buy drone insurance today so that you don’t have to worry about it at a later stage.

Criteria for Setting Premiums

The cost of drone insurance mainly depends on the level of danger that may be involved with the operation of the drone. Mostly, the choice of platform, the operator’s experience and the use of the drone is taken into consideration for estimating the coverage that the insurance company will provide you. If there is a higher possibility of an accident happening, the cost of insurance may go up. On the other hand, if the operator is an experienced one and the chances of a collision occurring are less, the premium amount might not be that high. So, when looking for a good drone insurance plan make sure that the drone you have is a safe one and is being piloted by an experienced professional.

Insurance Coverage

Every drone insurance plan is different. The coverage that is provided by the drone insurance will largely depend on the policy that you are buying and the company providing it. The areas that are covered by drone insurance plans are different for the owner and the manufacturer. For instance, most insurance plans for drones provide coverage to the owners for the legal liability and the physical damage caused by their drone either to a person or a property. This insurance will cover you for the following aspects:

· Personal injury: If your drone invades the personal space of your neighbor or some other person and ends up injuring them.

· Non- owned: If you happen to crash someone else’s drone that is not owned by you.

· Medical expenses: If your drone collides with a person, causing him/her injuries which require medical treatment.

· Premises liability: If your drone enters the premises of a person who does not like your drone invading his privacy.

· Damage to the UAS: Any damage sustained by the UAS during its flight either because of inclement weather condition or collision with an aerial object.

Factors to Consider When Choosing a Drone Insurance Provider

Drone insurance is a very important issue and thus it is vital that you choose your drone insurance provider very carefully. There are a number of insurance providers available in the market offering various plans for insuring your drone. However, not all of them are good. Some of the companies are only in this business to make money and don’t really care about their customers. If you want to find the best drone insurance provider then you will have to take into account the following factors:

Reputation

The reputation of the drone insurance provider is of critical importance. You should only choose that insurance provider that has a good reputation among the people. The easiest way of finding out about the reputation of a drone insurance service is to have a look at the testimonials posted on its website. If the testimonials are generally positive then the company is a reputable one.

Reliability

Reliability is also an important factor that should not be overlooked when it comes to choosing a drone insurance provider. Make sure that the company you are buying the insurance policy from is reliable and can be trusted with if you get into trouble with your drone.

No Hidden Cost

All the best drone insurance providers have a very clear and transparent price structure. They do not have hidden costs which are revealed when you need the insurance to cover you. To avoid such an instance, go through the terms and condition of the insurance provider with the help of an insurance lawyer to be sure that there aren’t any hidden costs mentioned in there.

Customer Support

Customer support is also an important aspect that should be given due importance if you want to find the best drone insurance provider. You should make sure that the insurance company you are dealing with has a responsive customer support staff that answers all your questions promptly.

In a nut shell, drone insurance is very important and it would be wise for you to buy it if you plan on using these aerial vehicles for personal or commercial use. However, choose only a reliable and reputable insurance provider to get your drone insured.

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LOOKING FOR A DRONE PILOT?

Simply create a job and watch as the top pilots in the country bid for your work. And payments are held in escrow, so pilots get paid on time, and you don’t release payment until you’re 100% satisfied!

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Insurance brokerage remains a mystifying field for the average layman or woman. Much like other branches of the insurance tree, the many complexities of this process tend to evade all but those with some training on the field, and the average insurance policy purchaser usually has a significant number of questions and doubts to voice. Fortunately, reputable commercial insurance brokers will make sure the process is as transparent as possible to their clients, often going as far as to explain certain specialist terms which form part of the trade ‘lingo’.

One such term, and one which applies specifically to property insurance, is ‘latent defect insurance.’ Unlike many other terms in the insurance field, some customers do have an idea of what this term means; however, just as many are still unclear as to its exact meaning, which is why this article will seek to clarify that matter, as well as explain why latent defect insurance plays an important role in the property insurance brokerage process.

What Is Latent Defect Insurance?

Latent defect insurance, also often known as structural warranty guarantee or simply structural guarantee, is one of the most important parts of insurance policies on buildings and other such types of property. Its aim is to protect a policyholder against property damage resulting from defects in workmanship, structural planning, design or materials of the building.

Unlike other policies offered by commercial insurance brokers, latent defect insurance does not require proof of fault, just proof of defect, an important nuance which could often help simplify and speed up the insurance process. Similarly, this kind of policy is not dependent on Architects’ Certificates, professional indemnity or collateral warranties, allowing policyholders to protect their investment in a more cost-effective manner. Latent defect insurance may not entirely eliminate costs should negligence have to be proven against one or more parties, but it nonetheless implies a significantly lower expenditure for the policyholder than they would otherwise incur in.

When Does Latent Defect Insurance Apply?

Almost any structure is eligible for coverage through latent defect insurance. It is most often used to cover commercial or residential buildings, but it is not unheard of for a policy of this type to be taken out for a large car park, or other less conventional structure. Of course, eligibility will vary from one company to the next, but most commercial insurance brokers are willing to work with the customer to try and arrange cover for their structure, so it is always a good idea for a prospective policyholder to ask and see if and how this type of cover might fit their specific situation.

What Are The Consequences Of Not Taking Out Latent Defect Insurance?

Of course, as with any other type of clause or policy, individuals taking out property insurance are under no obligation to take out latent defect insurance. However, there is a good reason why most commercial insurance brokers recommend their clients take out this type of policy, and why some clients even demand it upfront. Simply put, re-instating a defective property can represent a significant investment in both time and money for all involved. Protecting the structure with latent defect insurance will, at the very least, give the property owner peace of mind, by ensuring a solution is in place to deal with any structural defects their property may incur in. As noted above, this type of policy does not represent a one-size-fits-all solution; however, it does at least provide policyholders with some reassurance, and could save them mental, physical and financial strain should any structural defects be found in their property. This is the main reason latent defect insurance is important to the structural insurance brokerage process, and why so many commercial insurance brokers advise their customers to contract it.

Today, almost every person owns multiple gadgets, from laptops, mobile phones and cameras to eBooks, tablets, music players and GPS devices. While most of these devices provide trouble-free service for several years, it is the portable nature of these gadgets that can make them particularly vulnerable to damage, theft or loss when taken out and about. The only way you can protect yourself against the loss is to insure your gadget.

Think about it this way – if your gadget was damaged or stolen would you be able to stay without it for any length of time? If you are going to be devastated should something happen to your gadget it is a sure sign that you need to get gadget insurance.

Aren’t gadgets included in home insurance?

Not necessarily. There are a few home contents insurance policies that cover gadgets too but all don’t. If you are already paying premium for your home contents insurance, take time to read through the clauses carefully to see what is insured as well as the extent of protection you are likely to get.

If your gadget is not covered under your home contents insurance you should consider getting separate gadget insurance.

A good gadget insurance policy protects you against accidental and liquid damage, theft and loss and more.

How to Choose an Insurance Company That’s Right For You

Choosing the right insurance company should be top of your list when you are looking for gadget insurance. Without the proper due diligence you could end up with an insurance company that has a reputation for bad customer service.

Here are some of the things you should look for when choosing an insurance company for your gadget insurance:

• Is the company FCA regulated – If a company is FCA regulated it means that they operate to very high standards and are completely reliable. Insurance companies that are not FCA regulated may not be above board. That is not a chance you should be willing to clash royale make.

• Check the company’s rating – You can check the rating of any company today by using either a free or paid service. The ratings will give you a pretty good idea about the efficiency and trustworthiness of the company.

• Does the insurance company have a physical address – Having a physical address gives the customer confidence that there are real people operating the company and these people can be approached when necessary. When a company operates entirely through the internet without a physical address, who do you go to if you are looking for the answer to a question or if you need something to help you resolve a problem?

• Does the company have a plan that meets your needs? Each insurance company will have its own unique range of insurance plans. It is important to take your time and compare plans so you choose one that meets your needs and fits within your budget.