How Can I Get Drone Insurance?
Drone insurance is a product that’s slowly becoming available. You know as well as we do that insurance is a business that’s slow to change, but there are a few companies out there exploring options for covering drones. There are even companies out there exploring using drones for claims adjusting, such as after a catastrophe strikes.
But you’re not here to find out how insurance companies are using drones, you’re here because either you want drone insurance or you’re not sure why you need to insure a hobby drone that doesn’t really have all that much risk. First of all, it’s worth noting that the coverage is already present in your renters insurance policy. The key phrasing is along the lines of “We do cover model or hobby aircraft not used or designed to carry people or cargo.”
In other words, if you’d like to use your drone or unmanned small aircraft to move things from point A to point B, you probably need a commercial policy of some sort. If you’d like to use it to fly around, tinker with, and maybe take some pictures of your property, you’re probably already covered by, for example, your Fayetteville, NC Renters Insurance.
But what is the risk? Why do you need to insure an unmanned aerial vehicle, or UAV? What harm could possibly come of it?
To start with, if something goes wrong with your craft and it falls, it’s quite likely to cause bodily injury or property damage, namely damage to someone else’s property. Your renters insurance can cover those losses, as well as offer a defense against the suit or claim.
In addition, if you fly a UAV, you should consider the “personal injury” endorsement. Personal injury is commonly thought of as libel or slander, but the phrasing of the endorsement may also cover you for unintentional invasion of privacy. If your drone goes off course and takes a picture of someone who you didn’t intend to, they could try to sue you. Whether they would win or not is, of course, another matter altogether, but your policy defends you against suits for things that would be covered by the policy. That means you don’t have to pay that lawyer, the insurance company does.
Also keep in mind that, in addition to serial numbers on the drone itself, the FAA is in the process of creating rules for registration of drones. More correctly, registration of drone pilots, actually. Both will tie you to the drone, and to liability for the same. Any time that you do something that has the potential to cause harm, property damage, or personal injury to someone, you should make sure you’re covered for that potential loss. Drone insurance isn’t just cheap, it’s often part of the renters insurance you already have!
You do already have renters insurance, right?
If not, or if you have questions about your policy or drone insurance, just call (800)892-4308 or click to get covered - whether you need Fayetteville renters insurance quotes online or coverage anywhere else!
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Photo Credit: Javier Eduardo Utges Flying Drone CC BY SA 2.0