Property Insurance

Payload Insurance

Often the most expensive equipment used in your business, payload refers to equipment that is used under a manned or unmanned aircraft. This includes, but is not limited to, professional video cameras, multispectrum cameras, thermal cameras, LIDAR lasers or other sensing equipment.

Ground Equipment

As the term implies, this equipment is typically moving around outside of the office and is used on the ground. This equipment is therefore rated differently from the payload (ie, it doesn’t leave the ground so carriers view this as less risky). This includes equipment like video camera’s, levels, scanners, tripods, and GCS’s.

Business Personal Property

This term relates to property used for the business that is located in the scheduled office. It’s intended to cover property that doesn’t leave the office like ground equipment and payload. Things like furniture, computers, and TV’s.

What is covered?

Property coverage is typically insured on a “special peril basis” - this means that all losses happen unless they are specifically excluded. On the contrary, though our firm does not ever recommend this coverage, there is “basic peril coverage” which only covers losses that a specifically written into the policy, everything not specified would be excluded.

Special form coverage is the broadest type of insurance policy and it usually covers things like theft and damage. Most special form policies may have exclusions for earthquake and nuclear activities, but it’s best to discuss the specifics of your policy with your insurance agent.

How much does it cost?

The cost of insurance depends on a few key details and the types of property (listed above here) have various rates. As you’d probably assume, property that is out of the office and in transit or in the air, is going to have a higher rate. You’ll also see discounts for businesses that have a clean loss history and insurance experience. Finally, safeguards such as fire alarm systems, burglar systems, and building updates will also help keep insurance premiums down.

Apply for Coverage Today

We work with you to collect the fine details. There are a lot of auto-quoting tools on the internet, but we believe human support and expertise are more important than ever (ie, some of these tech companies are hiding coverage exclusions to reduce the price).

Give us a call, send us an email, or fill out the form below and an agent will present options.