Estimated reading time: 8 minutes
As a drone flyer, your first priority should be to ensure your safety and the safety of the people around you. You also need to make sure if something happens to your expensive device, there is a way to cover the repairs and the damages.
That’s where drone insurance comes into the picture. You might be wondering, what is drone insurance, and how can I get insurance for my drone?
Well, if that’s the case, then you’re definitely in the right place because that’s what I’m here to tell you.
You can get your drone insured to cover any damages or accidental injury-causing issues. All you have to do is choose a drone insurance provider.
However, it might not be as easy as it sounds.
In this article, we will look at how drone insurance works and what are the benefits of getting your drone insured. We will also find out the cost of a good drone insurance plan as well as many good companies that you can reach out to.
So, let’s get started.
What is a Drone Insurance?
Drone insurance is an insurance scheme that the FAA has approved for drone flying hobbyists and professionals. It is a type of coverage that will protect the UAV and the pilot in the event of an accidental injury. Some insurance plans also cover property damage and injuries cased to other people.
It is a very recent development in the drone industry. Nevertheless, it has received a lot of traction because of how rapidly the drone hobbyist industry is growing.
Since many people are still unaware of this type of insurance, not everyone has insured their UAVs. Currently, you will only see a few drone owners with insured UAVs.
These people utilize these vehicles for professional usage like photography and videography. They apply for drone insurance because they know they can afford it.
However, getting an insurance is quite an important task whether you use a drone for fun or for professional purpose.
If you have an expensive drone, and it somehow gets damage, the cost of repairing it can be huge. You will be surprised to know that simple damages are quite common among drone flyers.
In such a situation, if you get your drone insured your life will become easy. You won’t have to worry about repairing charges anymore.
But the question remains. How to get a drone insurance? Let’s answer that.
How to Get a Drone Insurance?
Many people skip out on getting a decent drone insurance plan because of not knowing the process of getting it. That’s why I have written a step-by-step guide to show you how you can get a high-quality drone insurance.
Let’s check it out.
- Finding the Right Company – This particular bit can be a little difficult if you’re new to the overall drone insurance gig. That’s why, I’ve taken care of this by comparing the top companies in terms of insurance plans and prices and made a list for your ease.
- Checking Out Their Plans – The next step after finding the right company is to check out their plans. You’re going to make sure you’re getting maximum coverage for the minimum cost when you’re getting a drone insurance plan.
- Picking the Right Plan – After that, we have to pick the correct plan. Once you’ve found what you’re looking for, you can finalize the plan and let the insurance agents know.
- Flying Your Drone Without Any Risk – Once you’ve got a high-quality insurance plan for your drone, it’s time to get into action. You can fly recklessly and safely through the skies without having to worry about any kind of accidental personal damage. Make sure you keep yourself and everyone around you safe though.
How Much Does a Drone Insurance Cost?
Contrary to popular belief, drone insurance is not as expensive as some other types of insurance plans are. However, the important thing is not to be disqualified to receive insurance due to any reason at all.
Most providers would require you to have a valid UAV license from the FAA. Moreover, they may demand that you have already logged around 50 to 100 flight hours to be qualified for drone insurance.
These criteria can reduce (or increase) the costs of a drone insurance plan you might be interested in.
When it comes to the price of modern drone insurance plans, the range can vary quite a bit. It usually depends on the scale of the plan and the benefits you’re getting with it.
Typically, the annual policy costs start from $500 and can go into the thousands if you’re getting a professional package which is recommended for business purposes, actually.
In this price range, you can expect to receive up to $1 million liability coverage.
There are some hourly packages too that you can check out. These cost as low as $10 per hour. So, you can choose the number of hours per day and make the overall cost within your budget.
If you’re not comfortable with the annual payment plans, there are plenty of different options and filters. You can apply these filters when you’re getting a drone insurance plan from a good company.
Additionally, it is possible to change the payment plan to suit your needs. This is one of the reasons the cost won’t be an issue with drone insurance plans. So, there are many options that you can use to your advantage to ensure your insurance plan is the best.
Points to Remember Before Getting Drone Insurance:
Drone insurance companies consider several factors to approve your drone insurance application. They may ask you where exactly you’re flying your drone. Depending on the location and the purpose, they might increase or decrease the cost of your drone insurance.
Moreover, these companies check regularly if your drone is being maintained regularly. Of course, trying to fly a damaged drone will ultimately result in an injury or further damage. And this is not a very practical situation for these insurance companies.
You will be required to keep a maintenance log and prove that your UAV is in a good shape. If you fail to do so, it will result in higher premiums.
Best Drone Insurance Companies:
If you’re worried about not finding the right drone insurance company, I’ve got you covered. Here’s a list of the best drone insurance companies in the market and what they have got to offer drone flyers:
DroneInsurance.com is a high-quality insurance firm that offers multiple insurance packages depending upon the kind of flyer you are. They cover your drones, regardless of where you go which is one of the best things about them.
What They Offer?
- Drone coverage is almost worldwide with the exclusion of a few territories.
- You can create add-ons to customize your chosen policy which is a great option.
- All you need to do is create an account and you’re set to get your preferred insurance policy right away.
Avion Drone Insurance:
Avion Drone Insurance is a company that is best suited for drone insurance plans for professional business that utilize drones like wedding photography and videography and such. So, do decide them if you’re looking for a decent professional plan in an affordable price.
What They Offer?
- Hull coverage offered for attached cameras and equipment for professional photography and videography.
- Easily manage all your policies online without any physical management needs.
- Affordable prices that even startup business can invest in and get great benefits.
Thimble is the perfect insurance solution for you if you’re not a professional flyer, and you’re looking for session-based drone insurance plans. This company cares about hobbyist flyers and their prices and plans definitely reflect that which is why they’re on this list.
What They Offer?
- You can get a free quote for your drone flight session on their online website whenever you want.
- Commercial and professional plans are also available in addition to recreational ones.
- With their high-quality mobile app, you can easily purchase the coverage when you need it.
- The customer service is on point for all kinds of drone flyers and the plans are pretty impressive as well.
Commercial drone operators should get drone insurance to protect themselves against damage and attacks. Depending on your requirements, you may want to get either liability insurance or other types of insurance plans as well.
With the help of drone insurance companies, you can find the perfect drone insurance plan. Whether you are a recreational or professional drone flyer, these plans can offer coverage for repairs and cyber-attacks that may result in physical damage.
Drone insurance is very important and should be used for all kinds of outdoor drone flying. I hope you learned a lot from this guide and that you’ll have a wonderful drone-flying experience.