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Insurance costs

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Ron Jamieson06/04/2020 18:39:43
2 forum posts

Hi, I'm just starting up and trying to get a handle on costs, particularly any insurance costs. I know membership of the BMFA includes third party insurance, but could you tell me what the cost of model damage / theft might be, and which companies might provide this?

I guess for a beginner's plane, this may not be worth it, but for a more expensive model, it would.

Many thanks

Ron

Martin Harris06/04/2020 19:04:53
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9264 forum posts
245 photos

Accidental damage? I doubt you'd get it but house insurance may cover theft - but you'd need to check with your insurer. My transmitter is covered as a specified item in and out of the house.

Peter Jenkins06/04/2020 19:09:31
1529 forum posts
256 photos

Hi Ron, welcome to the forum.

I'm afraid that no company covers model damage as a result of the pilot flying, or not flying, the model. The BMFA insurance covers damage to your aircraft by a third party. So, if someone steps back onto your aircraft and destroys it then you are covered for that. If it's damaged then that's up to you to decide whether you can repair it and I don't think insurance will cover that but I might be wrong.

Your best bet is to ring the BMFA head office (0116-244 0028) and speak to the folks in the office who will be able to give a definitive answer to the point above.

What the BMFA insurance covers you for is any damage you cause such as crashing into someone's car, or house or, in the case of the MoD into one of their combat aircraft! That's why the BMFA cover goes up to £25 M!

Regards

Peter

kevin b06/04/2020 19:16:43
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1823 forum posts
145 photos

Theft from home. Can be covered on household policy.

Theft from car. Need to check with car insurance on contents cover.

Theft from anywhere else. Not available.

Best insurance for crashed models. 40p (black bin liner).

If you think that's bad try getting 3rd party insurance for a working model traction engine. It's dearer than having a qualified 17 year old on your car policy !

Martin Harris06/04/2020 20:10:56
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9264 forum posts
245 photos
Posted by kevin b on 06/04/2020 19:16:43:

Theft from home. Can be covered on household policy.

Theft from car. Need to check with car insurance on contents cover.

Theft from anywhere else. Not available.

According to my insurer, as a specified item away from home, under my home insurance my transmitter is covered for theft with the exception of from an unlocked car.

Mike T07/04/2020 16:02:19
489 forum posts
37 photos

I've raised the question of insurance here before. In the process of renewing my home insurance a couple of years back, I actually read the small print and found that 'aircraft' were excluded. I assume this referred to full-size (or at least 'person-carrying' aircraft), in the same way as your home insurance would not cover your car, caravan, speedboat, etc. When I checked with my (then) insurer (Privilege), they confirmed it was aircraft of any sort! * They were quickly kicked into touch and I found an insurer (LV) who would cover my aircraft as 'valuables in the home'.

Beware also the limits on 'valuables stored in outbuildings'. Many insurers have a £5 or £10k limit. Tot up the contents of your shed/workshop and I'll bet many here have a figure way in excess of that...

 

*When I explained that I just wanted them insured as 'valuables in the home' (i.e basically fire/theft cover) that cut no ice. When I asked why they would insure model boats or trains (both items cited as exclusions from their 'exclusion' , I was told "well you aren't likely to take those out and crash them into somebody, are you"...

 

Edited By Mike T on 07/04/2020 17:11:01

Mike T07/04/2020 17:13:09
489 forum posts
37 photos

I might pursue with the BMFA the possibility of getting their (our!) insurers to provide a brokerage service for this type of insurance.

 

Edited By Mike T on 07/04/2020 17:19:07

Guvnor07/04/2020 17:36:27
130 forum posts
Posted by Mike T on 07/04/2020 17:13:09:

I might pursue with the BMFA the possibility of getting their (our!) insurers to provide a brokerage service for this type of insurance.

Edited By Mike T on 07/04/2020 17:19:07

They used to provide separate polices for covering models at home.

It fizzled out a couple of years ago, and the last I heard they weren't going to provide again...

Bruce Collinson07/04/2020 19:06:44
515 forum posts

Most competent contents policies will provide adequate cover for recreational items taken out of the insured premises for ... recreation. They may end up being specified items but bluntly if you fly turbines with Yeti radio it’s unlikely to be a big ticket item.

Liability; £25M; don’t hit an F35!

Loss of aircraft; it’s possible to insure almost anything but it would end up like pluvium insurance for fetes and galas (rainfall); the premium would be more than the profits/second hand value of aircraft.

Like most national organisations with bulk buying power, BMFA gives outstandingly good value for PL cover and if Government really used joined-up thinking it would ditch all the registration bureaucracy and make BMFA membership mandatory. Then everyone would be covered. You can’t buy shotgun cartridges without producing a valid SG Certificate; maybe society ought to discourage sales of 30cc petrol engines and planes to uninsured novices.

Just saying.

BTC

Simon Chaddock07/04/2020 19:24:41
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5695 forum posts
3028 photos

Third party insurance is not mandatory for model planes but a very wise precaution.

Crash damage? Simple. If you cant afford to loose it then don't fly it. wink 2

Edited By Simon Chaddock on 07/04/2020 19:25:06

Guvnor07/04/2020 19:53:45
130 forum posts
Posted by Bruce Collinson on 07/04/2020 19:06:44:

Most competent contents policies will provide adequate cover for recreational items taken out of the insured premises for ... recreation. They may end up being specified items but bluntly if you fly turbines with Yeti radio it’s unlikely to be a big ticket item.

Liability; £25M; don’t hit an F35!

Loss of aircraft; it’s possible to insure almost anything but it would end up like pluvium insurance for fetes and galas (rainfall); the premium would be more than the profits/second hand value of aircraft.

Like most national organisations with bulk buying power, BMFA gives outstandingly good value for PL cover and if Government really used joined-up thinking it would ditch all the registration bureaucracy and make BMFA membership mandatory. Then everyone would be covered. You can’t buy shotgun cartridges without producing a valid SG Certificate; maybe society ought to discourage sales of 30cc petrol engines and planes to uninsured novices.

Just saying.

BTC

What evidence do you have that this is happening and is a problem?

PeterF07/04/2020 21:25:12
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525 forum posts
724 photos

You can get specialist model cover for your models and equipment from Walker Midgley See their website, this covers the items at home for things like fire and theft and in transport I believe, but it will not cover crash damage. If you fly larger models it is easy to exceed limits on some home insurance policies for contents of outbuildings.

Ron Jamieson09/04/2020 20:32:49
2 forum posts

Thanks for all the responses. Very illuminating!

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