A Complete Guide to Drone Insurance – Everything You Need to Know
Unmanned Aerial Vehicles are becoming more popular and making people money. In the United States, drone insurance is not required residentially or commercially. However, having drone insurance is a relatively new concept that can save you a lot of money if an accident happens. UAV technology is not perfect; it is a wise idea to protect yourself and give your clients peace of mind knowing you are insured.
If your drone gets lost or into an accident, drone insurance works like any other insurance policy by covering damages and liability costs.
How do you get drone insurance, what is covered, and how much does it cost?
Most homeowners insurance policies will not cover the use of a drone, even if you are flying it in your yard. Some insurance companies will not insure a drone unless it is piloted by a professional pilot commercially.
Insurance companies want pilots to have operating manuals, proof of training, and maintenance logs to prove you are a safe flyer. Being a safe flyer lowers the amount of risk you pose to your drone, and other people and property.
If you are in law enforcement, homeland security, emergency response, fire and rescue, traffic patrol, maritime, geology exploration, videography, or real estate, you may use a drone for your business.
Drone Coverage Will Cover:
Loss or damage to the UAV and associated equipment
Coverage for aircraft operators, including other non-pilot, on-ground crew
Manufacturer Product Liability
Third-Party Legal Liability
Aviation and Premises Medical Payments
Fire Legal Liability
Independent Contractors Liability
Fellow Employee Coverage
War, Hi-Jacking and Terrorism
Damage to Premises You Rent
Your Property & Office/Studio Contents
Types of Coverage
Aviation insurance requires you have liability as base policy before adding any other coverage. Liability will protect your business from property damage and bodily injury claims. Liability coverage starts at $500,000 and can go as high as required by your business or clients.
Hull coverage protects the business from the financial cost from any Physical Damage that may occur to the UAV.. The business owner, their broker, and the insurance company will agree upon value and quote the UAV based on that valuation. However, it is very essential that the UAS’ value is accurate.
How to Get a Drone Insurance Policy:
Your insurance company will need your name and contact information, whether you need liability or hull coverage, the type and cost of your equipment, how many hours you have flown, the extent of your training, previous accidents or loss, how you will be operating your drone, and the 333 exemption grant.
You Can Lose Your Coverage by Not:
- Logging your flights and being able to prove what happened during an accident with flight log data.
- Registering your serial number and putting proper identification numbers on your drone.
- Logging all battery cycles and maintenance changes.
- Practicing ethical flight and uploading proof on social media.
How to File a Drone Insurance Claim
It is wise to know how to file a drone insurance claim in case you ever need to. You will want to notify all proper authorities and your insurance company as soon as the accident or loss occurs. Please know the time, date, and contact information of any witnesses or victims. Allow your insurance company to inspect the damaged property and file a loss with the insurance company within the set time.
Jacobs Insurance Agency
Jacobs Insurance Agency offers a broad range of coverage and works with many insurance agencies and can provide quotes from different companies to create drone insurance package with proper coverage at a great price. Price is important, however, Jacobs Insurance Agency can determine the proper amount of coverage needed for your business and select the option that will save the most money. Using Jacobs Insurance Agency ensures you are protected by the best.
Jacobs Insurance Agency is an independent agency specializing in homeowners, auto (including motorcycle and RV), boat, umbrella, and commercial insurance. With over 30 years’ experience in the South Florida area, our specialty is designing a tailored program of coverage to fill your unique insurance needs: whether personal, commercial, or both. Our passion is providing top-notch service and peace of mind to our clients, and we thank you for allowing us to serve you. Call us at 561-967-8400 or visit our website.
Jacob’s Insurance Agency
2328 S. Congress Avenue, Suite 2A
West Palm Beach, FL 33406
Main Phone: 561-967-8400 ext. 102
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