my biggest fear when Im flying is not losing my phantom. Its causing property damage or worse, personal injury
If you are that concerned you might want to look into getting insurance......the Phantom can be added to your home policy but that will not cover any personal injury suits. In fact most home owner policies won't cover anything "mad made" that falls from the sky and does property damage.
If you want to protect yourself you would probably need a commercial policy, however if you are not making money with your drone......that can be considered pretty expensive route to take for hobby flying....but not for commercial use. Very likely you would also need a business registered to obtain a commercial policy.
Insurance for UAS (
aviation insurance) is not all that expensive when considering a commercial policy
(if you are making money with it). When I looked into it a commercial insurance policy for a DJI Phantom 3 and an Inspire 1 Pro, with up to $1 million (
per occurrence) liability the average cost ranged from $1,000.00 - $1,550.00 a year in premiums - that's with a 15% - 20% deductible and legal liability and physical damage (hull insurance) for the owner/operator.
Further to all that, the insurance provider wants to see specific training completed, number of hours you have flown, areas where you will be flying, certification for RC, any exemptions (like your FAA 333 and up here (Canada) TC exemptions), understanding of aeronautical charts, meteorology, aerodynamics, keeping up to date maintenance and flight logs, plus ensuring you have the latest OEM updates/upgrades, etc. etc. These specifics all come into play when they consider your premiums and if they will carry/cover you at all.
A lot of people don't realize or agree with the fact - these units are treated no differently than manned aircraft when it comes to insurance - if it flies - you are the pilot regardless of whether you are in the cockpit or on the ground.
I am not familiar with your AMA coverage - what would it cover for you insurance wise?
.