With the recent explosion in popularity among drones, many people are starting to turn their drones into money makers. With any new industry we’ve seen before, things are far from perfect or complete when they first launch. Drone liability insurance is no different. Drone insurance is a new concept that is starting to become a must for commercial drone business.
Drone insurance is not mandatory for commercial use in the United States. However, Canada mandates a liability policy minimum of $100,000. Most companies will only insure your drones for commercial purposes. Most forms of recreational use fall under your homeowner’s insurance. Check with your insurance provider before purchasing a drone.
Despite no such laws requiring drone insurance for commercial use yet in the United States. Some contracts you take on may require a specific minimum of insurance. Drone liability insurance is a way to show you are a responsible and professional company.
If you know drone insurance is something you are in search for, Skyvuze Technologies can handle all of your drone insurance needs. Visit Skyvuze to shop drone liability coverage that best fits your needs.
What is Drone Insurance?
Drone insurance is no different than most other insurance policies. With insurance, you are covered for any loss or theft of property, as well as damage or liability costs.
Insurance companies may require pilots to have proof of training, operating manuals, maintenance logs and a record of all parts and add-ons. Having all of these indicate that you are a responsible and safe flyer. Making it easier for you obtain the type of insurance policy you want. Being a responsible flyer will help qualify for a desirable rate.
What Type of Accidents Are Covered?
Many accidents can occur while piloting a drone. Below is a list of common potential accidents that could occur that can be covered under commercial drone liability coverage:
Loss or damage to the drone or drone equipment
Coverage for drone operators, non-pilots and ground crew
● Manufacturer liability
● Third party legal liability
● Premises liability
● Aviation and premises medical
● Fire legal liability
● Personal injury
And much more.
How to Get Insured
Before picking an insurance policy, obtain quotes from multiple companies to determine the best insurance policy that works for you.
Here is some information you’ll need to provide in order to get an accurate quote:
● Contact information (name, address, phone number, etc.)
● The type of coverage you need
● Cost of all your equipment
● Specific information about your drone(s)
● Where you plan to operate (Business area)
● How many hours of flying experience
● How much training you have received
● History of accidents or loss of items
● 333 exemption grant or Part 107
Shopping multiple quotes is important. Shopping multiple quotes helps offer you the best insurance policy at the best rate.
How to File a Drone Insurance Claim
It is good never to have to file an insurance claim. However, if such need arose it is best to know what you want to accomplish with your insurance provider.
Here is a general outline of the steps you should go through to file an insurance claim properly:
1. Read over your insurance policy.
2. Notify your insurance company.
3. Notify the proper authorities.
4. Do not make any statements without your insurance company’s permission.
5. Collect your aircraft or insured property.
6. Cooperate with the insurance company and their representatives.
7. Allow the insurance company to inspect the damaged property prior to repair or replacement.
8. File proof of loss with the insurance provider company ASAP.
Drone use is rapidly increasing by people and businesses around the world. Here at Skyvuze Technologies, we take pride in offering you the best insurance plan possible to make sure your business runs as smooth as possible. To learn more about how you can insure your drone, contact our team at Skyvuze Technologies at 888-706-8561.