Voluntary aircraft insurance (AERO CASCO)

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

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.