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Why You Need Insurance for Hot Air Balloons

Hot air balloons are the most elegant form of flight. As anyone who has been up even once can tell you, there is no view quite like the view from the basket of a hot air balloon. Statistically, hot air balloons are a safe method of travel. However, accidents do happen and if you own or operate one, or a fleet, of balloons you should consider hot air balloon insurance. As with all insurance, it is typically better to have it and not need it than to need it and not have it.

Why do I Need Hot Air Balloon Insurance?

According to this article, the National Transit Safety Board reports that 21 people in the United States were killed in a hot air balloon accident between 2000 and June of 2016. Compared to other methods of transport this is a very minuscule amount. However, the liability for one accident can have devastating legal ramifications for owners and operators.

Despite the relatively small amount of accidents that occur, there are quite a few things that can go wrong during a hot air balloon excursion that can leave you legally liable for damages. These include,

  • Crashes-Very rare, but often devastating when they do occur. Often caused by hitting fixed objects, trees, buildings, etc.
  • Hard landings- Can cause serious injuries and in very rare occasion death. Hard injuries are more common because hot air balloons are less precise than other aircraft.
  • Property damage-Hot air balloons are very dependent on the wind. As a result, the pilot has very little directional control. They may damage property upon collision or landing.
  • Pilot error-Can cause any of the events listed above. (An investigation into a fatal 2016 crash revealed that it was caused by pilot error.)

Insurance for hot air balloons can help to protect the financial interests of owners and operators. It can also give protection against possible litigation if the unthinkable does happen to one of your balloons or the passengers or operators.

Legal Precedence 

There is much legal precedence regarding hot air balloon accidents. In 2012, a New Mexico man was awarded $3.86 million after he was injured in a hot air balloon accident. 

Also, in 2017, a New Jersey woman filed a lawsuit because local hot air balloons were scaring her livestock.

In the United States, an individual or group can file a lawsuit for just about anything. Some lawsuits are valid, others are a waste of time. The bad news is that both varieties cost money to settle. Insurance for Hot Air Balloons can help ease the pain of the lawsuit and gives you a powerful ally, the insurance company, if litigation is necessary.

In Summation

If you own/operate a hot air balloon(s) without having insurance coverage, you are taking a legal risk every time it is airborne. Hot air balloon insurance not only pays for damage to property and injury but it also gives you an ally if litigation is brought against you.

Xinsurance is a company that has experience with hot air balloon accidents and litigation. Our team of experienced and educated professionals can help you to understand why hot air balloon insurance is crucial. We can also help to tailor a policy to fit your specific needs. We understand that hot air ballooning is not just a hobby, but a way of life. We also now all of the things that can go wrong during even the most routine flight. Contact us to discuss your options and see how we can help you protect what you love. And, if you are ready,  call to get a quote: 877-585-2853.