The voluntary aircraft insurance (AERO CASCO) involves indemnity to the Insured for loss, destruction, or damage to aircraft (glider),helicopter (gliders), aircraft and helicopter engines, spare and replacement parts, as well as special equipment resulting from the insured event (insured risk) specified by the contract.
Insurance risks
- air accident, incident or any event classified otherwise;
- fire, earthquake, storm, flood or other natural disaster;
- skyjacking (not theft) or loss of the object of insurance;
- unintentional, except skyjacking, actions of third parties causing loss, destruction or damage to objects of insurance and taking place in the validity period of contract of insurance.
Insurance premium
The insurance premium is determined based on the size of insured sum and tariff rates. The insurance premium depends on the object of insurance and nature of insurance risk.
Aircraft insurance tariff rates (AERO CASCO)
| Name of risk group (type) | Tariff rate (in %%) | Tariff rate (in %%) | Tariff rate (in %%) |
| Name of risk group (type) | Minimum rate | Base rate | Maximum rate |
| Class I–III aircrafts | Class I–III aircrafts | Class I–III aircrafts | Class I–III aircrafts |
| Full package | 0,8 | 1,41 | 4,582 |
| Air accident, incident or any event classified otherwise | 0,264 | 0,465 | 1,511 |
| Fire, natural disasters | 0,136 | 0,24 | 0,78 |
| Skyjacking (not theft) or loss of the object of insurance | 0,264 | 0,465 | 1,511 |
| Unintentional, except skyjacking, acts of third parties causing loss, destruction or damage to objects of insurance | 0,136 | 0,24 | 0,78 |
| Class IV aircrafts | Class IV aircrafts | Class IV aircrafts | Class IV aircrafts |
| Full package | 1,73 | 3,05 | 9,92 |
| Air accident, incident or any event classified otherwise | 0,571 | 1,006 | 3,27 |
| Fire, natural disasters | 0,294 | 0,519 | 1,69 |
| Skyjacking (not theft) or loss of the object of insurance | 0,571 | 1,006 | 3,27 |
| Unintentional, except skyjacking, acts of third parties causing loss, destruction or damage to objects of insurance | 0,294 | 0,519 | 1,69 |
| Helicopters | Helicopters | Helicopters | Helicopters |
| Full package | 1,5 | 2,584 | 8,38 |
| Air accident, incident or any event classified otherwise | 0,5 | 0,853 | 2,77 |
| Fire, natural disasters | 0,25 | 0,439 | 1,42 |
| Skyjacking (not theft) or loss of the object of insurance | 0,5 | 0,853 | 2,77 |
| Unintentional, except skyjacking, acts of third parties causing loss, destruction or damage to objects of insurance | 0,25 | 0,439 | 1,42 |
In pursuance with the «Basic Flight Rules of the Republic of Kazakhstan», approved by the Government of the Republic of Kazakhstan dated July 17, 2003, No. 712, subject to the maximum (certified) takeoff weight and equipment, aircrafts can be divided into classes:
| Class | Maximum takeoff weight (in tons) |
| 1 | 75 and greater |
| 2 | 30–75 |
| 3 | 10–30 |
| 4 | below 10 |
Deductible
Insurance contract specifies a deductible, which type and amount are determined by the agreement between the Parties and set either a percentage of the insured sum, or in absolute terms.
