Buy Unmanned Aerial Vehicles Drone Insurance

Drone insurance is a type of insurance policy that provides coverage for damages to drones, injury to third parties, and liability claims related to drone usage. It is designed to protect drone owners, operators, and manufacturers from financial losses caused by unexpected accidents, incidents, or damages.

Drone insurance typically covers physical damage to the drone, liability for property damage, liability for personal injury, and liability for third-party injury. The coverage may also include emergency response, search and recovery, and other services.

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small drone businesses ranges from $77 to $99 per month based on location, size, payroll, sales and experience.

The cost to insure your UAV for commercial use can vary pretty dramatically depending on the type of drone, your intended use, your skill level, and the general locations you will be using the drone.

As a drone business owner (or someone thinking about opening a small business), your head is probably spinning over the choices when it comes to the types of unmanned aerial vehicles drone insurance coverage your company needs. UAV drone insurance offers these important coverages to protect you, your employees and your business:

Commercial General Liability Coverage - This unmanned aerial vehicles drone insurance coverage protects your drone business from third-party liability. This includes property damage and bodily injury caused by the drone, premises liability at locations used in connection with scheduled aircraft, as well as medical expenses.

General liability coverage can help pay medical costs and damages if you are found liable after your client or a member of the public sustains bodily or property damage arising from drone accidents. This is especially important, if you are going to be filming in an area where there are windows or other fragile obstacles.

Non-Owned UAV Liability Coverage - Non-owned drone insurance provides coverage to companies or individuals that use or hire UAVs that they do not own and that are operated by third parties. These exposures are primarily contingent liabilities where the user does not employ the operator and is not directly involved with the operation and maintenance of the UAV.

Hull Coverage - Accidents can be expensive. Purchase this unmanned aerial vehicles drone insurance to cover the theft or damage to the drone and any ground equipment used to operate it, or any electronics or components (payload) carried. Coverage includes:

• Aerial system.
• Remote control.
• Additional equipment (e.g. camera, surveying equipment).

Workers Compensation Insurance - Workers comp is required for any non-owner or partner employees. If any of your employees becomes injured while working for you, or if they become ill due to something that happened at work, you become responsible for them. workers comp pays for costly medical care bills.

Business Income Coverage - Covers losses that occur when work is interrupted or your drone business is closed temporarily due to a covered loss. This will pay you a portion of your income for up to 12 months until you are operational again.

Inland Marine - An inland marine policy covers the drone and equipment anywhere in the world (subject to certain excluded territories), including in transit. There is however a policy endorsement that you need to be aware of that imposes some common sense restrictions to make sure that appropriate security measures are in place when you leave the equipment in an unattended vehicle.

The amount of coverage that you need depends on a number of factors, including:

• Your Business - some industries, such as film, require higher insurance coverage than others as a matter of course.
• Your Customers - if your customers tend to be major corporations, they may have different insurance requirements than small businesses or sole proprietors.
• Your Assets - how much of a loss could you afford out of pocket if you are underinsured?

What Information About Your UAV Business Do You Need To Provide?

• Physical attributes - including the type and weight, takeoff and landing configurations, control redundancy, overhaul/engine life, operational range, communication links.
• Purpose of use - e.g. power line survey, or power pole inspections
• Primary location of use
• Any restrictions that have been imposed
• Details of the pilot(s) and their aeronautical experience
• Whether any risk/safety management systems are in place
• Details of any past claims

In many parts of the world, commercial drone operators are required to obtain insurance. The FAA does not currently require U.S. operators to be insured to fly a drone for either recreational or non-recreational purposes, but businesses should diligently weigh the potential risks and associated costs when considering unmanned aerial vehicles drone insurance coverage.

Companies you contract with might require UAV insurance as a condition of doing business.

Drone operators may face legal action and lawsuits for a variety of reasons. Some common reasons that drone operators are sued include:

Invasion of Privacy: If a drone operator violates someone's privacy by capturing images or video of them in a private space without their consent, they may face a lawsuit for invasion of privacy. If a drone operator is sued for invasion of privacy, their liability insurance may cover the cost of legal fees and any damages awarded to the plaintiff.

Property Damage: If a drone accidentally crashes into someone's property or causes damage, the operator may be liable for the cost of repairs or replacement. If a drone operator accidentally damages someone's property, their liability insurance may cover the cost of repairs or replacement, up to the policy limit.

Personal Injury: If a drone injures someone, the operator may be held responsible for any medical expenses, lost wages, and other damages incurred by the injured party. If a drone operator injures someone, their liability insurance may cover the injured party's medical expenses, lost wages, and other damages.

Violation of FAA Regulations: If a drone operator violates FAA regulations, they may face fines, penalties, and legal action. If a drone operator is fined by the FAA for violating regulations, their liability insurance may cover the cost of the fine, as well as any legal fees associated with defending against the violation.

In addition to liability insurance, drone operators may also consider purchasing hull insurance, which covers damage to the drone itself, or coverage for business interruption, which may be relevant for commercial drone operators. By investing in drone insurance, operators can protect themselves from the financial risks associated with drone operations and operate with greater peace of mind.