Aircraft Dispatcher Insurance – What Kind and at What Cost

Whenever you budget the expenses of your business, Aircraft Dispatcher insurance must be high on the list because you can’t always know exactly what can happen in the future.

Need General Liability Insurance for Your Aircraft Dispatcher Business?
Get Your Free Quote

With the protection provided by insurance against accidents and all the other sorts of insurance we will tell you about, you can protect your business and yourself in case something unforeseen happens.

Like any business owner, for your Aircraft Dispatcher enterprise, you must consider how much financial liability you are taking on.

Business Insurance for Aircraft Dispatcher

If your Aircraft Dispatcher business runs without proper insurance, you are taking a giant chance not just of losing some money but of a total wipe-out.

This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions. 

In this article, we are giving very general guidelines for growing businesses to outline what the main kinds of insurance that you need are, and where possible, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your Aircraft Dispatcher business?

What this means, for any Aircraft Dispatcher business owner, is that if some customer claims that your work caused them some physical or economic damage, a court can award damages far beyond the total size of your business.

Your Aircraft Dispatcher business is not protected by laws in the same way as states are, where edicts can place a “cap” on the maximum level of liability.

In some states, like New Jersey, there are specific monetary levels that limit the amount an adjudicator can award in any case against the state.

In a court case, it’s purely the duty of the jury to award whatever amount they deem appropriate, even sometimes giving a claimant more than they have sued for.

When you are running your Aircraft Dispatcher operations, you can’t avoid responsibility for the results of your actions.

Even more importantly, unless you have spent up-front the money necessary to have your business running as a limited liability company, all of that liability belongs to you alone.

What does Aircraft Dispatcher insurance protect you from?

For your Aircraft Dispatcher business, the most important kinds of insurance are designed to cover the risks to your business from accidents, from unexpected events, and from mistakes.

In addition there are some mandatory kinds of insurance that various states require.

In the next few paragraphs, we will outline the most important points any Aircraft Dispatcher business owner should know when negotiating the insurance needed.

The main headings of insurance for your Aircraft Dispatcher businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any Aircraft Dispatcher business is dealing directly with members of the public, and that means you generally have the danger that some accident can happen to them bodily or else something of theirs can be ruined.

In such a case, they can sue you for compensation.

General liability insurance policy for your Aircraft Dispatcher business covers you against claims coming from injury to visitors or damage to their property.

It protects your Aircraft Dispatcher business from the claims themselves and also to any resulting court costs and legal fees of the lawsuits.

In many cases, it should help you to qualify for extra business from city and state organizations, where contracts insist on proper liability insurance.

The usual level of general liability insurance for your Aircraft Dispatcher business would be with a cap of $1 million for a single event and a total of $2 million for the whole year.

See the table in the costing section below for average prices of general liability insurance for your Aircraft Dispatcher insurance operations.

Professional liability insurance for your Aircraft Dispatcher business

In the event where a buyer alleges some negligence, errors, or omissions in how you conducted your Aircraft Dispatcher business for them, you can quickly have to fight a law suit.

Even if the case against you is decided in your favor, the cost of defense can be substantial, and the impact on your reputation can be damaging.

Almost all small Aircraft Dispatcher business should have enough professional liability insurance to cover an individual claim of $25,000, with annual cover of $50,000.

See the table in the cost of Aircraft Dispatcher insurance section below for average prices of professional liability insurance for your Aircraft Dispatcher operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that buyers may claim that what you delivered didn’t meet your description of function, or that your guidance was basically incorrect.

You need to be aware of the particular laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held responsible for results caused by products claimed to be defective.

To cover yourself against any possible lawsuit, you need Product liability insurance for Aircraft Dispatcher

Only you can determine exactly how much insurance you need.

Best advice is to talk to experienced insurance agents, brokers or company representatives for guidance.

Commercial insurance

Commercial vehicle insurance for your Aircraft Dispatcher business

Beware! – practically all policies for private vehicle insurance do not cover any happening like theft or accidental damage when the van is being used for business purposes.

The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a proper commercial vehicle insurance package.

Commercial truck policies insure the value of any vehicle in case of accident, malicious damage, fire, or theft.

Also, in case of any accident, the truck itself, the content and any legal bills, medical expenses, and property damage is guaranteed if your van is involved in a collision.

Most states, other than Virginia and New Hampshire, require this type of insurance.

The required value of the insurance depends on the depreciated value of the vehicle, and your intended level of cover of contents. 

Tools and Equipment insurance

Since your Aircraft Dispatcher business needs specific and dedicated equipment, you can appreciate how much it can cost to replace it in case of any damage, loss, or theft.

The equipment may be subject to malicious damage, deliberate fire, theft, other such unpredicted acts.

As well, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can eliminate your whole business in one stroke.

Unless you can afford to immediately replace such unique gear quickly out of your own pocket, you should have full-level equipment insurance so that you can immediately buy whatever needed to keep your Aircraft Dispatcher business running.

It is difficult to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your Aircraft Dispatcher business’ equipment.

Commercial Property insurance

Any Aircraft Dispatcher business that owns or rents space in a building needs a commercial property insurance policy.

If you own the property, you probably have a substantial capital investment, along with a big liability if there’s a mortgage.

Your physical building location should carry insurance coverage for the value of the premises and contents against accidental occurrences like fire and storms, and against criminal damages like theft and vandalism.

If your Aircraft Dispatcher business works in areas of high risk, like Texas or South Carolina, supplementary coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Illinois, where unlimited cold snaps can cause damage to outer coverings of Aircraft Dispatcher business premises, there is a need for more additional cover than in warmer climes.

Although the level of cover depends mainly on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of Aircraft Dispatcher insurance section below to give some indication of the average prices per million dollars of property insurance for your Aircraft Dispatcher business.

Temporary insurance by month, week or day for your Aircraft Dispatcher business

Is your Aircraft Dispatcher business working part-time or casually, or is the level of business variable?

Using short-term insurance makes perfect sense. Business insurance by the month, day, or week – temporary insurance for Aircraft Dispatcher – are special policies where you can cover a designated period when you want to be covered.

By only paying for that period of cover, you will save by having lower premiums but still having adequate risk cover.

The key feature of short-term insurance is that you purchase the cover for a defined period – a specific date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.

When you are expecting periods of better business activity, get the existing cover increased.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your Aircraft Dispatcher business

You have the choice to combine several of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP integrates commercial property and public liability insurance by packaging these coverages into one insurance policy, which can save you money.

BOP insurance will shield you if any claims of injury or property damage are made.

It is frequently the right choice for small and medium-sized Aircraft Dispatcher businesses, such as yours.

There are two limits that will rule whether BOP is suitable for your own business.

BOPs cannot cover your professional liability or commercial vehicle policies.

Also, the size of your business will determine whether you are allowed to take out BOP cover.

The normal business that is allowed to take a BOP policy must have no more than one hundred employees, and not more than five million dollars in annual turnover.

Plus, you must separately take out the necessary worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your Aircraft Dispatcher business employees

In most states, it is mandatory to have workers compensation insurance when your Aircraft Dispatcher business has one or more employees.

Workers compensation insurance covers the business against any costs that arise if any hired hand experiences an injury or becomes sick as a result of work.

The benefits provide for medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s requirements in this regard can leave you as the employer having to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only permit coverage from the government-run monopoly state funds.

In these states, you may not obtain your workers compensation obligations from private insurance companies.

Workers compensation premiums are worked out based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must refer to the relevant authorities in your state.

Average costs of these types of insurance

Although every Aircraft Dispatcher insurance need is unique, there are enough examples of standard quotes from insurance companies for us to give approximate guidelines, including what are the cheapest rates offered.

Of course, you should always check with a broker what’s relevant for your business.

The list below is of annual premiums we have collected for the main types of insurance your Aircraft Dispatcher businesses needs.

Types of insurance Price range
Public liability insurance $345 – $700
General liability insurance $675 – $1280
Commercial vehicle insurance $1610 – $3435
Product liability insurance $240 – $755
Equipment insurance $335 – $1040
Commercial insurance $820 – $2740

Cost of insurance for your Aircraft Dispatcher operations depends on many different factors.

We have reckoned these figures for small freelance Aircraft Dispatcher businesses.

In larger states like California, premiums are generally about 20%-30% higher than national averages, but in smaller states like New Mexico, they can be about 20%-30% cheaper.

The location and size and type of your Aircraft Dispatcher business can have a big effect on the cost of different policies.

You should consult with professional insurance agents and brokers, or insurance company representatives.

As well you can let the internet do the work for you by looking for insurance companies near where your business is located.

Another reliable source of information is the local Better Business Bureau in your town.

FAQ

What is small business insurance for Aircraft Dispatcher operations?

This is an umbrella term used to describe standard insurance policies designed to protect Aircraft Dispatcher business owners from risks like bodily injury, property damage, claims of negligence.

Does my Aircraft Dispatcher business have to have insurance?

Some of the kinds of insurance are not mandatory for you to open your business, but they can protect you from risks in your business operations.

Certain other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small Aircraft Dispatcher business insurance policy cover?

Liability insurance provides insurance against lawsuits or claims filed by a client for bodily injury, property damage, or negligence.

The exact cover will vary based on your own operations.

See the table in the costing section above for average prices of the recommended policies for Aircraft Dispatcher insurance.

How much will Aircraft Dispatcher business insurance cost?

In addition to the size of the business, certain other factors, such as location and claims history, are used to determine your policy’s cost.

You should talk to professional insurance agents and brokers, or insurance company representatives.

You can search for more information insurance for Aircraft Dispatcher, in the search box below, and follow the relevant links.

Was this helpful? Share it!
SBCoverage.com
Enable registration in settings - general