Drone has gone a notch high in the modern day. Nowadays, drone is one of the top three electronics on Americans' wish lists that they include drones in protection plans. Yes, drone insurance becomes a thoughtful and pragmatic accessory.
Although recreationaldrone pilots don’t need insurance, commercial drone pilots you need to keep your business safe. Drone insurance have come up with types of optional coverage that might need a minimum level of insurance coverage to take on a project that requires insurance for each of its vendors. The benefits of drone insurance is that it could save you a lot of money down the line if an accident happens.
Drone insurance include cover for drone theft, loss of drone mid-air or in transit, damage to your drone, or against claims made by someone whose property your drone may accidentally damage. You can also cover everything, including your theory and practical tests involved in becoming a commercial pilot.
Drone insurance provides unmanned aerial vehicle (UAV) and unmanned aircraft system operators protection against accidental injuries or damage from most external causes. It also primarily covers third-party liability bodily injury and property damage claims for small business owners. There are several low-cost options to insure your drone, quadcopter or "Unmanned Aerial System" (UAS).
The below a list of companies can help you find the best sUAS insurance policy for you and your company. If you have limited time to conduct research, all basic reviews can give you to determine what drone insurance you may already have and don't know about. We will also look at if you need additional insured coverage and how to get a lower cost . We've also got a couple of handy insurance checklists for drone use or as part of a larger commercial general liability policy, and some cool resources for you as a drone owner.
Drone Insurance Providers
Drone insurance providers evaluate the risk based on the drone’s purpose, how you use it, where the geographic area the drone will operate in, and the potential for property or bodily injury damage.
The good news is that most insurance provider policy wordings would cover a drone in the same way that they already have coverage your personal property or contents. Depending on your specific insurance company, you may not have to pay any additional amount to make sure your drone is covered. Here are the best drone insurance providers based on overall coverage and convenience:
1. Academy of Model Aeronautics (AMA) Insurance:
The Academy of Model Aeronautics (AMA) Insurance is now serving the commercial drone community and pilots by offering membership benefits for those who fly for business.
Now AMA members can purchase commercial drone insurance at a special low rate. It gives a lot of coverage.
It does not cover crashes or loses but it does cover fire theft and vandalism as well as accidental property damage and accidental death. Become an member of the Academy of Model Aeronautics for just $75 a year.
2. Unmanned Risk Management:
Agricultureand open space security firms seeking to patrol unpopulated areas. Works with small businesses that use drones to survey and secure land and livestock. Specialty policies for drone operators in agriculture, photography, and service providers.
3. Verifly:
Drone operators needing hourly coverage quickly via a proprietary underwriting app. Not ready to work with an insurance broker to negotiate an annual policy?
Check out Verifly, an insurance company that offers on-demand insurance where you pay by an hour, a day, a week, a month up to a year and everything in between.
This insurance provider is an innovator in drone insurance, with a proprietary app that allows a drone operator to get coverage on an hourly basis. Underwriting is done based on GPS location and time.
4. SquareTrade:
For those interested, you can get a SquareTrade Insurance for 3 years at $249. SquareTrade protects drones, laptops and tablets, and other consumer electronics and appliances from malfunctions, accidental damage and life's frequent mishaps.
It includes all accidents/water damage and the turn around time is less than 48 hours for a new drone! Full Coverage for anything that occurs such as theft, loss, complete grenade, bird strike, fire, and fly away.
Unlike old-fashioned warranties, SquareTrade is designed for today's consumer and uses innovative technology to deliver a zero hassle claims process. Ask your local agent for a personal articles policy for the drone itself.
5. The Hartford:
Photographers and videographers seeking an inexpensive rider to existing business policies. Premier business policies for photography businesses using drones and other photography equipment needing coverage across the board. An easy addition for companies with existing business policies at The Hartford.
6. Global Aerospace:
Drone operators working in densely populated areas covering concerts, sporying events, and fairs. An aerial risk management solution insurance company including coverage for unmanned aircraft for any reason. Good for companies with large film, concert, or sporting events.
7. Aerial Pak (Hill & Usher):
Professional photographers using drone and RC aircraft to capture footage in open spaces. A leader for remote controlled aircraft risk, including drones. Policies are created in conjunction with the Remote Control Aerial Photography Association to cover risks specific to drone photography.
8. USAIG:
Photography companies that use a wide variety of aerial footage, from drone to small private aircraft. An aviation insurance giant, this insurance company insures risks associated with all types of flight. Excellent provider of hull insurance for drone operators with a fleet of expensive, high-end drones.
9/ State Farm:
State Farm has NO DRONE INSURANCE policy or coverage for drones. Your drone can be included in your homeowner policy but that deductible is often as high or higher than the cost of the drone.
They do offer a Personal Articles Policy that will cover "camera equipment" but not specifically drones. It does not cover aircraft and it does not cover commercially used camera equipment. It all depends on what you paid for your drone.
There is coverage available to cover your drone/camera equipment for commercial use with a special clause and higher premium. The policy also insures against theft and accidental direct physical damage with only a few limitations and exclusions.
Now that drones are becoming so popular, companies like State Farm are offering insurance to protect you from lost, stolen or crashed drones. Sort of.
