Unmanned aerial vehicles, more commonly known as drones, are becoming increasingly popular. From hobbyists to business owners, the use of drones is on the rise, and the need for drone insurance has never been greater. In the years since drones first hit the market, the insurance industry has responded by offering a variety of specialized policies, as well as some general coverage for drone operators. In this article, we’ll explore the different types of insurance available for drones, and what you need to know to get the coverage you need.
What is Drone Insurance?
At its most basic, drone insurance is a specialized form of property insurance that covers damage to, or the loss of, a drone. It can also cover liability in the event that the drone operator is responsible for property damage or personal injury. Drone insurance policies can be tailored to the specific needs of the operator, and can include coverage for physical damage to the drone, liability related to the use of the drone, and even coverage for the payload (e.g. cameras) carried by the drone.
What Does Drone Insurance Cover?
The specific coverage offered by a drone insurance policy will depend on the specific policy and the company offering it. In general, however, drone insurance typically covers physical damage to the drone, liability related to the use of the drone (e.g. property damage or bodily injury), and sometimes even coverage for the payload carried by the drone. In some cases, the policy may also include coverage for data loss or data breach related to the operation of the drone.
Who Needs Drone Insurance?
If you are an individual or business that operates a drone, you should consider getting drone insurance. Even if you are a hobbyist, it is important to be aware of the risks associated with using a drone and to make sure you have adequate coverage in case of an accident or other incident. For commercial drone operators, insurance is an absolute must; most jurisdictions will require drone operators to have insurance before they are allowed to fly. While the specific requirements may vary, most jurisdictions will require at least liability coverage.
What Does Drone Insurance Cost?
The cost of drone insurance will vary depending on the type of coverage you purchase, the amount of coverage you need, and the company you purchase it from. In general, however, you can expect to pay anywhere from a few hundred to a few thousand dollars for a basic policy. Of course, the more coverage you purchase, the higher the cost will be.
What Should You Look for in a Drone Insurance Policy?
When shopping for drone insurance, it is important to make sure you are getting the coverage you need. Look for a policy that provides adequate coverage for physical damage to the drone, liability related to the use of the drone, and any other coverage you may need. Be sure to read the policy carefully to make sure you understand what is and isn’t covered, and what the limits of the coverage are. It is also important to make sure the policy is from a reputable insurance company with a good track record of paying claims.
Drones are becoming increasingly popular, and the need for drone insurance is growing as well. Whether you’re a hobbyist or a commercial drone operator, it is important to make sure you have the coverage you need in case of an accident or other incident. There are a variety of policies available, and the cost will vary depending on the type of coverage you purchase and the company you purchase it from. Be sure to read the policy carefully to make sure you understand what is and isn’t covered, and make sure the policy is from a reputable insurance company with a good track record of paying claims.