Insurance has quickly become a major concern for drone businesses. If you are a professional drone operator, legally providing commercial drone services with a valid Section 333 Exemption, then I’m confident you will want to make sure your drone activities are covered under insurance.
Knowing you need insurance is simple. Knowing what type of insurance you need and who will give it to you, can be another story. Here are few different insurance options to consider:
Association Based Insurance
If you’ve ever considered joining the Academy of Model Aeronautics (AMA), then now you have one more reason. AMA membership includes some great drone coverage:
- $2,500,000 Comprehensive General Liability Protection for model activities for members, clubs, site owners, and sponsors
- $25,000 Accident/Medical Coverage for members
- $10,000 Maximum Accidental Death Coverage for members
- $1,000 Fire, Theft, and Vandalism Coverage for members
You can learn more a by reviewing their “Benefits of this Association.”
Think of crash insurance as an extended warranty for your drone. This type of insurance is available, in some cases, from the manufacturer such as DJI Care Coverage, and from third parties in others, such as Neary Aerial Media.
The risk factor involved with flight (or more accurately with crashing) has been a major barrier to further adoption of consumer drones. Years ago this was not a factor since pilots expected to crash – and fix – their drones on a somewhat regular basis. However, as millions of new customers have been drawn into the drone pursuit they have brought with them a different set of perceptions and expectations. This proved difficult for drone manufacturers because many (most) crashes can be avoided and are due, in a sense, to pilot error.
Traditional Insurance, Extended
If you are looking for inexpensive protection, then you may want to consider reviewing and possibly extending your existing homeowners insurance. Contact your insurance agent and inquire if your drone qualifies as a personal effect will be your first step.
Specialized Drone Insurance
Operating a drone is not without risks. If you operate a drone professional, then regardless of which one you choose, get yourself covered by some form of insurance.