Helicopter Tour Business Insurance
Getting insurance for your helicopter tour businesses is essential.
Helicopter tour businesses need to be protected against things like claims of false advertising, negligence, and trademark infringement.
For example, a customer could be injured in a crash, or someone could sue your company for trademark infringement if your logo is similar to theirs.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Helicopter Tour Business
General liability insurance is — generally speaking — one of the most important insurance policies for helicopter tour operators.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
General liability is a great first step to financially protect your helicopter tour business. Many similar businesses choose to enhance this coverage by investing in other policies, such as:
- Professional liability insurance: This type of insurance protects your helicopter tour business against allegations of professional negligence or failure to provide proper advice or service. In the event of a lawsuit, legal fees and damages will be covered.
- Data breach insurance: If a hacker steals your customers’ online information, you could be sued. This will cover legal fees and any resulting judgments.
- Commercial property insurance: This covers your aircraft and all the other property your company uses, such as computers, printers, etc.
The insurance providers that sell policies like this can generally be categorized into two key varieties:
- Traditional brick-and-mortar insurers: Such as Hiscox, The Hartford, and Nationwide.
- Online insurers: Such as Tivly and Next.
We strongly recommend that most small businesses use online insurers. They offer the same premium coverages as traditional insurers but at lower prices thanks because they have lower overhead.
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Cost of General Liability Insurance
On average, helicopter tour businesses in America spend between $350 - $700 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a helicopter tour business to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for a Helicopter Tour Business
Example 1: While a customer completes paperwork for an upcoming tour, her child wanders off and injures himself. The child’s injuries require surgery and several days in the hospital. If the customer decides to sue your business based on the accident, general liability insurance would cover the child’s medical bills, your legal fees, and any court-awarded damages.
Example 2: When a potential customer asks about another helicopter tour business in town, one of your employees shares some negative feedback she heard from past customers. Word gets back to the owner of the competing business and names you in a lawsuit, citing slander. General liability insurance would pay for your legal defense and any court-awarded damages.
Example 3: In order to secure a loan to purchase a second helicopter, your bank requires you to carry a minimum of $2 million in general liability insurance. A general liability policy would ensure you meet that requirement.
Other Types of Coverage Helicopter Tour Businesses Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Commercial Property Insurance
You made a major investment in the helicopters, real estate, and other equipment needed to establish your tour business. In the event of a fire, theft, or natural disaster, commercial property insurance would cover the cost of repairing or replacing your business-related property. This includes structural damage to your building and grounds as well as the helicopters and other business materials stored there.
You can typically purchase commercial property insurance as part of a business owners policy (BOP).
Hull Insurance
Similar to commercial auto insurance, hull insurance protects helicopter owners against a loss or damage to their aircraft. Be sure to carefully consider policy limits because most hull insurance policies pay out on the agreed value — making it important to avoid undervaluing or overvaluing your aircraft.
Workers’ Compensation Insurance
If you have any employees, most states will require you to carry workers’ compensation insurance for your part-time and full-time workers. This coverage protects your employees if they become injured at work or fall ill after a work-related accident. It not only covers an employee’s medical bills and lost wages if they need time to recover but also any disability or death benefits stemming from a workplace accident.
Most insurers offer workers’ compensation insurance as a standalone policy.
Commercial Umbrella Insurance
While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your helicopter tour business:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Helicopter Tour Business Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes. You should get sufficient business insurance before your helicopter tour business takes on its first clients. That will protect you from the significant liabilities that companies in this industry can face.
Your helicopter tour business may also require insurance if it is legally obligated to buy certain policies (e.g., workers’ compensation insurance).
Not necessarily. Certain exceptions may be written directly into your helicopter tour business insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.