Drone Insurance Overview
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Who Needs Drone Insurance?
A drone insurance overview is needed as insuring a drone is can be complex and confusing process for some.
Drones, or Unmanned Aerial Vehicles (UAV), have a diverse range of commercial applications. They are actively being used in many industries including:
- Law Enforcement
- Real Estate
What Does Drone Insurance Cover and How Do I know I have The Right Coverage?
Piloting a drone comes with the responsibility of properly insuring oneself and one’s equipment. A typical drone insurance policy will cover third party legal liability and physical damage, or hull, if desired.
A drone operator needs to carry legal liability insurance. In fact, in Canada it is mandatory to carry a limit of at least $100,000 in order to legally operate a drone. This coverage pays for the cost to repair property damage or bodily injury caused to third parties through the use of a drone. Additional coverage may include limits to protect against personal injury. For example, a claim related to an invasion of privacy may be covered under a personal injury limit. Non-owned coverage, which would apply if an operator were to damage someone else’s drone, may also be added.
Additionally, coverage is available against physical damage to the drone itself. This covers the cost to repair equipment, or cover the total loss of the damage to the drone or ground equipment. Theft and other perils whilst the UAV is on the ground, in storage or transit is generally also covered in a standard drone policy.
Things to consider when determining how much coverage is needed;
- Flying Environment: Flying a drone in an urban area poses much more of a risk than in a rural area due to the higher concentration of population and structures.
- Operations: The use of a drone will affect the risk exposure. For example, flying a UAV over a concert venue to capture photographs presents a higher liability risk than a UAV used to survey open land.
- Education: Completing appropriate UAV pilot training reduces the chance of an accident.
For A More Detailed Drone Insurance Overview Speak To An ALIGNED Insurance Advocate Or Connect With Us Today At www.alignedinsurance.com
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