Drone insurance is currently not legally required for anyone. That means hobbyists, collectors, and enthusiasts are not obligated to purchase coverage. For the most part, other current insurance policies (home, auto, etc.) will often cover incidental damages that may come with drone operation.
Below are 3 questions about drone insurance you need to know the answers to!
Consumers are invited to purchase their own coverage if they would like the comfort. Some companies, such as Verifly, offer on-demand policies with prices per hour, using the GPS location of the drone to rate the surrounding risks. This lasts only for as long as your device is in the air.
For those that are performing contracted work with drones, there is still no legal obligation to purchase coverage at this time. That being said, purchasing drone coverage is quickly becoming an industry standard in commercial drone operations.
Clients contracting drone work from contractors are starting to require these drone policies, as they can see the inherent risks in flying an unmanned aircraft on their projects. It's not just client requests that are driving this to be the new standard; the contractors themselves are recognizing the large risks they take on when they fly a large, unmanned device high into the sky to perform complicated tasks.
As the industry becomes more aware of these risks, they are becoming increasingly interested in shielding their companies from potential losses.
If you have any additional questions regarding Drone Insurance or other insurance policies, TSIB is ready to help! You can call us today at 201-267-7500.
image credit: Dmitry Kalinovsky/shutterstock.com