Sometimes insurance gets a bad rap. Let’s take a deeper look at the most common misconceptions about commercial drone insurance and how the right coverage can help you grow and protect your drone business.
1. Every drone insurance solution is the same.
Many operators believe that their home insurance policy will provide coverage for their drone. While this may be the case for recreational drone use, you may not be covered if you plan to use your drone for business. If you’re a commercial operator, it’s worth considering whether a dedicated drone insurance policy is right for you. But keep in mind, not all drone insurance offerings are the same. Here are some things you should look for:
- Hull or physical damage coverage: This protects against damage to the drone itself.
- Sensor or payload coverage: This covers sensors such as multispectral, infrared or LiDAR, which can often cost more than the drone itself.
- Theft coverage: This protects you in the event your drone is stolen.
- Ground equipment coverage: This covers whatever equipment you use on the ground to remotely control or communicate with your drone.
- Personal or advertising injury coverage: This protects you from several types of liability such as copyright infringement, invasion of privacy, slander, libel and more.
To help give you a better idea of what types of coverage combinations are available to you, here’s a quick overview of what coverage is available through DroneInsurance.com.
2. The drone itself is not covered.
A lot of drone pilots we’ve talked to have expressed some level of confusion around coverage for their drone hardware. It’s true, some drone insurance solutions don’t offer Hull or Physical Damage Coverage. However, DroneInsurance.com offers optional Physical Damage Coverage once you have added Base Coverage.
3. You don’t need commercial drone insurance.
Unlike in Canada and the UK, commercial drone insurance isn’t required in the US. But if you ask most commercial drone operators, especially those in the servicing business, they’d tell you that having this coverage is almost mandatory if you want to secure clients. We understand that separate drone insurance can sometimes be costly for pilots, especially those who are just starting out. As a result, we’ve strategically designed DroneInsurance.com’s coverage options to be customizable enough to match a drone operator’s unique needs and business volume.