Drone insurance tips

Why UAV insurance?

Almost everything is insured. Our life, our houses, our vehicles and many other things that we value. The rise of drones, especially among civilians, has given rise to the need to add drones to the list of insured items. If you are doing business and making money with drones, it is a good idea to insure your drones. Even if you’re not making any money and plan on making money in the future, even then it’s a good idea to make sure. This will help you avoid paying out of pocket in the event of an accident.

Having drones insured would also be good for your business. Your customers would feel safe and want to do business with you. This would retain your customers and help attract new customers.

We all know that the applications of drone use have increased tremendously since their original military use. Now, people are using drones for business use as well as for individual purposes. In the near future, you will frequently see drones flying over you. With the increase in the number of drones, accidents are bound to happen. They could crash into a building, another drone, or worse yet, a plane. Even now, pilots have reported 25 near misses with drones. If this is the rate now, imagine what future rates will be.

Also, with the stealthy nature of drones, many people can take offense when their drone hovers over their home or office. Then they could slap you with an invasion of privacy lawsuit. The American Civil Liberties Union has even called for rules on the use of drones to prevent society from becoming a ‘surveillance society’. If this is the level of concern now, imagine what it will be in the future.

Types of UAV Insurance:

As of now, if you are not a commercial drone user, homeowners insurance would suffice. The problem, however, is that the drone must fly over your property and/or away from the public.

If you are a commercial drone user, no matter how large your operations are, you will need to insure your UAVs.

The amount of the insurance depends on the use and the country in which you are insuring yourself.

Drone insurance:

Getting drone insurance is not that easy. You have to show that you are serious about using drones. You have to prove that you have some sort of drone flying experience. This could include copies of operation manuals, sales and purchase records for drones and drone parts, and proof of training as well.

Insurance Operations:

Most insurance companies insure drones only for the following operations:

· Agriculture

Archeology

· Construction

emergency response

Environmental evaluation and monitoring

Collection of knowledge and information.

law enforcement

Movies and documentaries

Security

shipping and shipping

Site protection and monitoring

Traffic patrol and assistance.

transport maintenance

Type of accidents covered:

Below are accidents currently covered under various UAV insurance plans:

drone loss

Partial or total damage of the drone

War

Kidnapping

Terrorism

personal injuries

Fire

Insurance cost:

Drone insurance is basically divided into two parts: civil liability and hull damage. Under the liability type, these are damages claimed by third parties, while hull damage is damage related to your own drone. In general, the insurance policy for liability goes up to $1 million, while for damage to the hull it can go up to $1500 per year. These are general quotes and the specific ones may vary from company to company and drone to drone. Some companies provide liability insurance only, while others cover hull damage, and still others cover both.

Insurance Broker Requirements:

Insurance brokers also have certain requirements. Generally, they would need the number of flight hours of the drone. Flight hours should normally be between 50 and 100. Drone owners are also required, in some cases, to have the FAA 333 exemption. The FAA 333 Exemption is a certificate issued by the Secretary of Transportation to operate in the National System of the airspace. Insurance brokers also want to know if the drone is owned or rented. They are curious if the drone can automatically store flight data, etc. Lastly, they want to know the areas where the drone has been flying and will fly in the future. They also check the website and last but not least, they want to know if you have received any kind of training or certification regarding drones.

Make sure:

When you get insurance, first decide which company you want to go with. For that, you have to get quotes from several companies. And to get a quote from a company, you need to go to their website and fill out the quote form. The form will ask several questions related to information about the owner, type of coverage and cost of equipment, operating locations and number of flight hours, training levels and number of previous accidents, etc. After completing the form, the particular company replies with the quote. Once you have multiple quotes from multiple companies, you will be better able to judge and apply to the company of your choice.

Insurance companies:

Below is the list of some insurance companies that deal with drones. The list does not include all companies and may not include the best ones, but they are enough:

Air Park

AIG

aircraft insurance

Avalon Risk Management

cover drone

Driessen Assuaderen

Harpenau insurance agency

blacksmith sky

Sutton James Incorporated

Unmanned Risk Management

So this was a modest effort to educate you on how to secure your drone. In short, those who just want to fly over their homes or away from the public and for recreational purposes do not need to get any type of drone insurance as homeowners insurance will suffice. Those who use UAVs for commercial purposes really need to insure their drones and should consider insuring their drones right now. Who knows, as time goes on, maybe the laws regarding drone insurance will become much clearer and more uniform throughout the insurance industry.

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