UAV Insurance Poll

[Joe Ernster]

Hello,

I am an aviation insurance broker that specializes in commercial UAV insurance. However, I am attempting to sway the insurance companies that I work with to offer an insurance policy for hobby/recreational flyers (currently they only offer policies for commercial use). For those of you who fly for recreation, how much would you be willing to pay annually for a quality insurance policy specifically designed for UAVs? These policies would include liability, hull, and possibly payload coverage. I am just trying to get a feel for the size of the potential market.

I feel that this would be a very good offering for our hobby. The last thing we need is for a hobbyist UAV to cause a serious accident with no insurance coverage.

Also, if you have any input on this matter, please feel free to shout it out.

Thanks,

Joe Ernster
[email protected]
Get an Online Commercial UAS Insurance Quote Now!

 

[iamdjka]

I would pay around $100-150 a year for liability and hull but there would need to be a criteria set out so users know what they're getting. Here's a few that springs to mind:

- Would need to specify exactly what counts as "hobby/recreational" I.e. if I was shooting for my YouTube channel would they consider this commercial even if my channel isn't primarily drone footage
- Would they try to avoid paying out like car companies? Obviously if a drone takes a helicopter out next to an airport they're not going to pay but if I'm flying in the park and NOT in a no fly zone and it clips a power line and falls on someone helping you film would they pay out or say "you shouldn't have been flying anywhere near people"
- Would it cover the hull in the event that someone took it down? The good old "you were flying from somewhere that was within sight of my property so I decided to shoot your drone down without speaking first"

I guess the main point I'm getting at is that it would definitely by a worthwhile product that I would pay for but only if it didn't reduce your drone to something you can only fly in an open field 100 miles from the nearest town!

Hope this helps

 

[Joe Ernster]

@iamdjka thank you very much for your detailed response!

These are all valid points. I am going to save this post in my files to pass along to the powers that be.

Again, thank you so much. I am hoping that this thread will be a very valuable tool in getting a product created. I think the UAV hobbyists need a policy specifically for them/us.

 

[Sundevilfan]

My homeowner policy covers liability and loss due to fly-away (subject to the deductible).

 

[Joe Ernster]

@Sundevilfan thanks for the input! What company provides your homeowner's policy? What limit of liability applies when operating your UAV? What is your deductible on your homeowner's policy (if you don't mind sharing)? I believe mine is $1,000. So, if I were to crash my P3P, I would be subject to the $1,000 deductible. I should be able to get a new P3P for around $700.

 

[Sundevilfan]

@Sundevilfan thanks for the input! What company provides your homeowner's policy? What limit of liability applies when operating your UAV? What is your deductible on your homeowner's policy (if you don't mind sharing)? I believe mine is $1,000. So, if I were to crash my P3P, I would be subject to the $1,000 deductible. I should be able to get a new P3P for around $700.

I am insured through Liberty Mutual. I have a $1 million umbrella liability that covers my homeowner and auto policies. I do not have specific drone coverage. However, the drone flights are covered for liability just like if my dog bit someone or my kid hit another kid. A drone that causes property damage or personal injury is covered under the $1 million liability coverage. Also, if the drone goes missing (such as a fly-away) it is covered under "lost or stolen" provisions of my homeowner policy subject to my $500 deductible. There is no coverage if I crash it but find the remains. LOL I am happy to share this info with you.

 

[Joe Ernster]

@Sundevilfan thank you very much for the further information!