Do I Need Drone Insurance?
Drone insurance is becoming a necessity. From Construction companies using drones to inspect buildings to powerline and pipeline patrol operations, drones are changing the way we look at certain jobs that before required many man hours and high risk operations. Now, with minimal risk, UAV’s are taking on far more responsibility with significantly less operating cost. Many businesses and municipalities are requiring insurance for UAV’s used professionally and as a hobby.
Generally, there are two aspects of coverage available to drone operators, hull and liability. You may purchase one or both.
Drone liability insurance under our drone insurance policies provides coverage for claims arising from damages to people and property. This is a tremendous help with risk mitigation for drone operators.
Hull insurance covers the physical damage to the insured's drone itself. Included in hull insurance may also be any equipment added to the drone. Cameras and other devices may fall under the hull coverage of the drone as long as it is specifically listed on the policy. As in other standard aircraft polices, drone hull insurance policies will include a deductible. The insured will be responsible for the first portion of the claim (deductible). With drone hull insurance, deductibles will typically be a percentage of the value of the drone.
When you’re on a job or opening a new operation that involves work with a drone, drone insurance is a necessity. As with any business venture, make sure you protect yourself by insuring your operation.
Travers Aviation Insurance can help you in securing drone insurance. We are able to provide drone insurance from a micro drone to a large heavy lifting drone. Read our Drone Insurance Guide or Call us today and take the guesswork out of your financial protection.