Insurance General Question

[Vioia61855]

Good day my friends, I have a couple of question about insurance.

1. When flying for fun, do any of you take out insurance? If so, do you take insurance that you pay for, for the days that you fly only or a regular policy that covers you for the year?
2. Can you recommend a good company?
3. Lastly, I am about to get my Part 107 and the start up a drone business. Is commercial insurance different from personal use insurance?

Thanks in advance for your comments...
Vinny

 

[Starz]

St.Farm seems to be a little popular.
No insurance on any of mine at this time. I did have a policy from them for one some time ago and I’ve found that if you pay attention to what you’re doing, insurance may not be necessary. 107 flying may be a good idea or even a requirement.
Best to call an agent and ask very specific questions.

 

[Bone4Drone]

Good day my friends, I have a couple of question about insurance.

1. When flying for fun, do any of you take out insurance? If so, do you take insurance that you pay for, for the days that you fly only or a regular policy that covers you for the year?
2. Can you recommend a good company?
3. Lastly, I am about to get my Part 107 and the start up a drone business. Is commercial insurance different from personal use insurance?

Thanks in advance for your comments...
Vinny

I could be wrong but, as a member of the AMA, I believe I am covered by insurance in the event of a mishap. Now, that may involve some restrictions such as only when I fly at a sanctioned flying club site, but I keep my AMA membership current (even though I no longer fly model airplanes) only for the insurance feature. Perhaps, for a similar annual fee, I could get a policy that specifically covers my drones. I'll do some research and also appreciate any input from members here.

 

[benpatrick]

St.Farm seems to a little popular.
No insurance on any of mine at this time. I did have a policy from them for one some time ago and I’ve found that if you pay attention to what you’re doing, insurance may not be necessary. 107 flying may be a good idea or even a requirement. google street view
Best to call an agent and ask very specific questions.

Thanks a lot! I'll try that out.

 

[BigAl07]

I could be wrong but, as a member of the AMA, I believe I am covered by insurance in the event of a mishap. Now, that may involve some restrictions such as only when I fly at a sanctioned flying club site, but I keep my AMA membership current (even though I no longer fly model airplanes) only for the insurance feature. Perhaps, for a similar annual fee, I could get a policy that specifically covers my drones. I'll do some research and also appreciate any input from members here.

AMA has some pretty strong insurance for a very low yearly fee... but that policy is Hobby/Recreational only and you'll need to get a Commercial Policy if doing Part 107 operations.

Here's the information on AMA Hobby/Recreational membership ($75/year VERY cheap)

Compare membership options | Academy of Model Aeronautics

AMA benefits Full membership Park Pilot membership Three-month trial membership Free Youth membership

www.modelaircraft.org

I don't know what that costs but I did just try to find it and the website states:
Instant Commercial Drone Insurance quotes are currently unavailable.
To receive a quote, please contact Patt Pierce at (402)-861-7029.


I'll call him tomorrow and try to get some figures.

 

[BigAl07]

I spoke with "Pat" who is heading up the Commercial Insurance program on behalf of the AMA (She's not an AMA employee, she works for the insurance company directly). Their policy seems very good and at a very good price point for COMMERCIAL work. Keep in mind there is usually a big rate jump from HOBBY coverage to COMMERCIAL coverage.

AMA Yearly Membership $75/yr (includes hobby insurance)

AMA Commercial Insurance (annually) $400 ($500K), $500($1M), $900($2M) depending on coverage amount.
AMA Hull Coverage (in addition to above policy) is roughly 7% of replacement coverage and it covers 90% of replacement.

 

[PeterVance]

I take out insurance whenever I go somewhere, especially if flying by plane. Anything can happen during the trip, and you need to be prepared for the consequences of overspending. My father treated our family capital carefully and always invested it in ensuring our good future. I have never had a craving for finance, so I left this role to the agency. Unfortunately, I can't say how much insurance costs at the moment because there are different types and different price categories.

 

[AirModo - Drone Insurance]

If you are still looking for insurance, AirModo is an app you can download. Hourly and Annual policies are available for an affordable price. You can access or request certificates of insurance instantly 24/7.

 

[Shawgod]

I could be wrong but, as a member of the AMA, I believe I am covered by insurance in the event of a mishap. Now, that may involve some restrictions such as only when I fly at a sanctioned flying club site, but I keep my AMA membership current (even though I no longer fly model airplanes) only for the insurance feature. Perhaps, for a similar annual fee, I could get a policy that specifically covers my drones. I'll do some research and also appreciate any input from members here.

Does the AMA insurance only cover you when you when you are flying on their property or their events? Or can I fly anywhere with their insurance.

 

[AirModo - Drone Insurance]

The AMA insurance program is meant for hobby / recreational pilots and not for "business pursuits" or income generating business (i.e. commercial operations). For hobby / recreation use, they've expanded beyond AMA sanctioned sites to now private and public property. Also, AMA insurance is a basic general liability policy that sits excess over your homeowners or any other valid and collectible insurance.

If you are a commercial operator where AMA insurance would NOT apply, then AirModo would be a good option for you. Annual policies start at $575 and hourly policies start at $9 per hour. We also have hourly insurance available up to $2 million for hobby/recreation drone operators.