Effective Date: August 12, 2019
Table of Contents:
Your Account and Coverage Application
Terrorism Risk Insurance Act
YOUR ACCOUNT AND COVERAGE APPLICATION
All representations herein and in your account and coverage application are declared to be true and complete to the best of your knowledge and you represent that no information has been withheld or suppressed. You agree that your coverage application and the terms and conditions of the policy in use by the insurers shall be the basis of any contract between you/us and the insurer(s). You hereby authorize the insurers to investigate all representations contained herein and in your coverage application.
Insurance will not be effective until the application and premium payment (or monthly installment) have been received and you are in receipt of a written confirmation from us, your insurance agent (also known as an ‘insurance producer’) or from the insurer that the policy is in effect.
SUBMISSION OF YOUR APPLICATION DOES NOT COMMIT THE INSURER TO ANY LIABILITY NOR MAKE YOU LIABLE FOR ANY PREMIUM UNLESS AND UNTIL THE INSURER AGREES TO EFFECT THIS INSURANCE.
YOU FULLY UNDERSTAND THAT THE POLICY WILL INCLUDE TERMS, CONDITIONS AND EXCLUSIONS WITH RESPECT TO THE INSURANCE AFFORDED. Any questions about the insurance afforded under this program should be directed to us or your insurance producer.
NEW MEXICO CUSTOMERS ONLY: By consenting to this Agreement, you represent that the coverage you purchase through our Site is not replacing existing coverage from an authorized insurer who was willing to continue providing coverage.
The Uniform Computer Information Transactions Act or any version thereof adopted by any state in any form (“UCITA”) shall not apply to this Agreement. To the extent that UCITA is applicable, the Parties agree to opt-out of its applicability pursuant to its provisions.
Payment for certain insurance products available on our Sites may be made with selected credit cards. These payments are processed by a third-party payment processing service (“Payment Service”). Any payment made using the Payment Service will be deemed complete only when:
(a) you have submitted your name and the details of a current and valid credit card of a type that the Payment Service accepts, and all other information required by the Payment Service (the “Information”);
(b) all Information from you has been received by the Payment Service;
(c) a charge against your selected credit card has been made; and
(d) we have received full payment for all applicable amounts due for the policy.
IF ANY PAYMENT IS REVERSED OR DISHONORED FOR ANY REASON WHATSOEVER, NO PAYMENT WILL BE DEEMED TO HAVE BEEN MADE TO US, AND WE MAY RESCIND OR CANCEL YOUR POLICY IN ACCORDANCE WITH ITS TERMS.
By providing and submitting the Information you warrant that:
(a)we are authorized to use the Information to request and obtain payment from your credit card issuer;
(b)the credit card is issued in your name and that you are authorized to incur charges against it; and
(c)the Information you have provided is accurate and complete.
We may, in our sole discretion and at any time, change the credit cards or other payment methods that we accept.
We make no warranties, representations or guarantees that the Payment Service will operate as intended, remain secure, or that its operation will be continuous or be uninterrupted. All implied terms, conditions and warranties regarding the functionality and security of the Payment Service are disclaimed to the fullest extent possible.
We reserve the right to modify our Terms (including this Agreement) at any time and for any reason. You understand and agree that your continued use or access of our services after any such modifications are made signifies your acceptance of the updated or modified Terms.We will notify you of material changes to these Terms by either sending a notice to the email address you provide to us or by posting a notice on www.droneinsurance.com. Be sure to return to www.droneinsurance.com periodically to review the most current version of these Terms.
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects that person to criminal and civil penalties (In Oregon, the aforementioned actions may constitute a fraudulent insurance act which may be a crime and may subject the person to penalties). (In New York, the civil penalty is not to exceed five thousand dollars ($5,000) and the stated value of the claim for each such violation). (Not applicable in AL, AR, AZ, CO, DC, FL, KS, LA, ME, MD, MN, NM, OK, PR, RI, TN, VA, VT, WA and WV).
APPLICABLE IN AL, AR, AZ, DC, LA, MD, NM, RI and WV
Any person who knowingly (or willfully in MD) presents a false or fraudulent claim for payment of a loss or benefit or who knowingly (or willfully in MD) presents false information in an application for insurance is guilty of a crime and may be subject to fines or confinement in prison.
APPLICABLE IN COLORADO
It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the department of regulatory agencies.
APPLICABLE IN FLORIDA and OKLAHOMA
Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony (In FL, a person is guilty of a felony of the third degree).
APPLICABLE IN KANSAS
Any person who, knowingly and with intent to defraud, presents, causes to be presented or prepares with knowledge or belief that it will be presented to or by an insurer, purported insurer, broker or any agent thereof, any written statement as part of, or in support of, an application for the issuance of, or the rating of an insurance policy for personal or commercial insurance, or a claim for payment or other benefit pursuant to an insurance policy for commercial or personal insurance which such person knows to contain materially false information concerning any fact material thereto; or conceals, for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act.
APPLICABLE IN MAINE, TENNESSEE, VIRGINIA and WASHINGTON
It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties may include imprisonment, fines or a denial of insurance benefits.
TERRORISM RISK INSURANCE ACT
You are hereby notified that under the Terrorism Risk Insurance Act, as amended (‘the Act’), you have a right to purchase insurance coverage for losses resulting from acts of terrorism. As defined in Section 102(1) of the Act: “The term “act of terrorism” means any act or acts that is certified by the Secretary of the Treasury — in consultation with the Secretary of Homeland Security, and the Attorney General of the United States — to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion.
YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER, YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS, UNDER THE FORMULA.
THE UNITED STATES GOVERNMENT GENERALLY PAYS A PERCENTAGE (85% THROUGH 2015; 84% BEGINNING ON JANUARY 1, 2016; 83% BEGINNING ON JANUARY 1, 2017; 82% BEGINNING ON JANUARY 1, 2018; 81% BEGINNING ON JANUARY 1, 2019; AND 80% BEGINNING ON JANUARY 1, 2020) OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT.
YOU SHOULD ALSO KNOW THAT THE ACT, CONTAINS A PROGRAM CAP OF $100,000,000,000 THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS’ LIABILITY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS THE PROGRAM CAP. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEEDS THE PROGRAM CAP, YOUR COVERAGE MAY BE REDUCED.
PREMIUM FOR TERRORISM INSURANCE COVERAGE (which is in addition to the “Total Premium”, and is subject to any applicable state taxes and surcharges) IS $Zero.
By consenting to this Agreement, you agree to be bound by the terms and conditions herein, and acknowledge and agree that you consent to receiving all communications and documents electronically, and to the use of electronic records and signatures in connection with your transactions with the Company in place of written document and handwritten signatures.Further, you agree that you have computer hardware and software that meets the requirements listed above.If you consent, accept or agree to these Terms on behalf of a company or other legal entity named in your account, you represent and warrant that you have the authority to bind that company or other legal entity to this Agreement.
This Agreement and any dispute arising from this Agreement, or the subject matter hereof, shall be shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, excluding that body of law applicable to conflicts of law. You agree that any suit, action or proceeding arising out of or relating to this Agreement shall be instituted only in a state or federal court sitting in Suffolk County, Massachusetts. You hereby waive any objection you may have now or hereafter to the laying of the venue of any such suit, action or proceeding, and irrevocably submit to the jurisdiction of any such court in any such suit, action or proceeding. If any part of this Agreement is held invalid or unenforceable, that portion shall be construed to reflect the parties’ original intent, and the remaining portions shall remain in full force and effect.