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Third-party liability and gyrocopter insurance
Wherever it is a legal requirement to purchase third-party liability insurance for an aircraft, gyrocopter owners and pilots are bound by the existing rules and regulations to arrange suitable insurance.
Within the UK and EU there are minimum limits required for third party liability. For UK registered aircraft visit www.caa.co.uk/g-info. For EU domiciled risks, the limits are similar and are set out in EU regulation EC765/2004 . The limit for the policy is determined by the weight of the aircraft.
A standard third-party liability insurance covers third parties who suffer physical loss or damage, including personal injury or death, due to a gyrocopter.
Our team can also offer you insurance for your gyrocopter, which will provide cover even while it is in transit.
Gyrocopter liability insurance
Gyrocopter liability insurance essentially provides cover against loss, damage or injury to third parties, which include passengers, cargo, mail and baggage. Although different insurers may offer slightly different policy limits and definitions, they do not generally provide cover for the pilot in command of an aircraft or the actual aircraft. It is required that pilots carry evidence of this insurance onboard the aircraft at all times.
Please refer to comments above regarding limits for UK or EU owners. Similar regulations apply in most other countries worldwide.
Gyrocopter hull insurance
A gyrocopter hull insurance policy indemnifies a loss or damage to your own aircraft.
In general, gyrocopter hull insurance policies are on an agreed value basis, where the value of the aircraft is agreed upon in advance. In the event of a total loss, insurers pay out the agreed value rather than the current market value.
It is important to set a realistic agreed value sum insured. If you choose a value below the true value of the aircraft, at the time of a loss, an insurer may decide to declare the loss uneconomical to repair and pay the claim based on the agreed value. This payment may not fairly reflect the cost of replacement. Alternatively, if you overvalue your aircraft, insurers may elect, when you suffer a significant loss, to repair the aircraft rather than write it off even if you wish to have the aircraft declared a total loss.
Risk Questionnaires
