Should I Insure my Drone?
If you are flying a drone for personal use as a hobbyist, the answer would be more than likely no. It is suggested that you do have drone insurance just in case you were to fly into someone’s property and cause damage. However, if you are taking flying a drone to the next level and starting a side gig career as a professional pilot, then you should probably think about getting insurance.
Treat your drone as your business.
You should see your drones like any other business equipment that is in use for work purposes. The loss or damages that occur during flight should be covered by an insurance policy. It should also cover for lost revenue if you have to cancel shoots because of weather conditions such as rain and foggy days which can be disastrous if the shoot is happening indoors with no natural lighting.
Some things are not covered.
Keep in mind that there are some things that are not covered by drone insurance. These are usually the most crucial parts of the drones like the cameras and gimbals. Check your policy, or prospective insurer to see exactly what they will and will not cover.
Should a hobbyist get insurance?
It is hard to say whether an amateur should get insurance for their drones because each case is different depending on its use.
For instance, should you be using it for aerial photography work then you should definitely consider getting insurance since you are running a business. On the other hand, if your drone is used to take videos of your family get-togethers or your adventures on the weekend, it may not be necessary for you to get an insurance policy at all. There are many factors that should go into consideration when deciding to insure your drone or not.
Do your research before selecting a policy
As with any financial product, research, research, research.
- Make sure there is a clause in your policy that covers any damages done during your flights in regards to people’s property, should you crash into it while flying over it at high speeds.
- If the policy doesn’t cover these damages then you should probably seek out other insurers who can provide more suitable coverage for your flying needs.
- Check to see if the policy will cover any potential loss of revenue due to weather or other uncontrollable issues.
- Check and see if your policy will cover broken equipment.
- Check and see if you will get premium discounts for quarterly or annual payments.
- Check and see if the insurance can be purchased per need or use or if it has to be an annual policy. Some drone policies can be purchased by the hour. This could work perfectly if you are just starting out.
- Check your policy for additional pilots coverage. Make sure if you have additional pilots flying your aircraft for business usage that they too are covered.
A good policy should include things mentioned above and any other scenarios to cover your potential losses as well as a client or accidental property damage. All of this should be taken into consideration when you are comparing policies.
Before selecting any policy, shop around and see what companies may offer you based on price and needs. Due to all of the providers available, more than likely there is a policy perfect for your business needs.
We hope this helps answer your question, should I insure my drone.
The information included in this article is only suggestions and not professional advice. Our past business experience with event-related business has allowed us to have additional insight into this area. We recommend seeking professional advice from an insurance agent or broker that provides policies for this type of business need. – Happy Flying!