Even though drone accidents are rare, they do happen, and when they do, the results can be devastating both financially and emotionally.
A damaged or lost drone can be very expensive to replace, especially if you need to cover not only the price of the equipment but also any damage done to surrounding property or vehicles in the process.
And even if your accident was someone else’s fault, it could still result in litigation costs that easily reach into four figures. That’s why many drone owners have decided to purchase insurance to protect themselves from these sorts of financial risks.
When To Get Drone Insurance
If you’re flying a drone, you should get insurance. The sheer cost of some drones means that a single crash could prove more than your pocket is able to handle.
If you are thinking about buying drone insurance then these tips will help you: Buy adequate coverage for replacement costs and personal injury liability – In order to protect yourself in case an accident does occur, purchase adequate coverage from a provider with established claims expertise.
Protect your equipment with extra care – Flying high-end camera drones is similar to handling pricey professional equipment like cameras or lenses. Don’t take chances by getting cheap protection when using it.
How To Select The Right Drone Insurance Provider
Selecting a drone insurance provider requires a lot of research on your part. There are many providers to choose from, and all of them offer different policy options and benefits.
Some will even bundle it with their own products (like home insurance), but you shouldn’t blindly purchase it as some may not offer additional perks or add-ons.
How Much Does it Cost to Get Drone Insurance?
It can be tricky to pin down a solid price for drone insurance. The number of years you plan to fly your drone, what kind of service you’re looking for and how often you plan to use it are all factors that play into how much drone insurance will cost.
The average annual price is around £160 or less in the UK, depending on your individual circumstances and needs. Some services offer an all-inclusive package while others only provide liability coverage.
What To Do If your Drone Is Lost or Damaged
If your drone is lost or damaged, it’s important to document and report it immediately.
Most insurance companies will require you to provide them with a copy of your receipt or proof of ownership; if you can’t locate that, you may need to call your credit card company for help in finding out who made your purchase and how much was paid.
If your drone was financed or leased, it should be reported directly to your bank or leasing company.
The Most Important Part of Getting The Right Coverage
The most important part of any drone insurance policy is ensuring that your coverage includes an all risks liability provision.
Without one, you might not be covered if someone on land or in a vehicle (or just hanging out their window) is injured by your drone—even if it was unintentional.
This could leave you with some major expenses to cover—up to and including paying fines, legal fees, and settlements on behalf of others.