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5 Reasons why you need Drone Insurance

May 8, 2021 | 0 comments

Note: Keep safety and responsibility in mind when flying. If you’ve never flown before, it’s never too late to learn. Find a hands-on Training near you.

 In order to legally operate a drone business, you will need a Part 107 License. If you want to pass the test on your first try, take a Prep Course.

Drones have become more popular in the photography industry, and the growing drone population has created concerns for professional photographers. Drone Insurance is a solution to help you protect yourself and your work.

Before we dive into the reasons why you need to insure your drone, let’s first talk about what Drone Insurance really is and how it works.

Hull Insurance & Liability Insurance

Liability Insurance protects you in the event that someone gets hurt or there is property damage as a result of your drone’s activities.
Liability Insurance is what will cover anything external that happens in the event of an accident. If you crash your drone against something that can be broken or someone could get hurt in the process, this Insurance will cover medical costs and property damage. High-end liability insurances can even end up covering bail bonds and legal expenses, among other costs. Most common liability insurances cover up to US$ 1,000,000.00 even though some can go as low as US$ 500,000.00 USD and as high as US$ 25,000,000.00

Liability Insurance protects you in the event that someone gets hurt or there is property damage as a result of your drone’s activities.

Hull Insurance is what will protect your drone, the aircraft portion of your drone. However, if you own a professional drone that has detachable components such as sensors or camera equipment, these are usually insured separately through Payload Coverage, which has to be specified in your policy. With smaller drones, usually, the entire aircraft is a single unit and its components cannot be detached.

Be aware though, you are not able to get Hull Insurance without first getting Liability Insurance.

Policy Formats: On-Demand & Annual Drone Insurance

There are two ways to sign up for drone insurance. You could sign for On-Demand or Annual insurance.

On-demand has become more and more popular, and it makes perfect sense. Insurance brokers have really useful apps that make signing up for insurance really simple. You can signup for on-demand insurance for just a specific project or photoshoot. You will be covered in a specific location in a specific time frame for a fraction of the cost of the annual fee.

Annual insurance consists of coverage for the whole year and you pay all upfront in one lump sum. This is the best type of format if you’re a professional photographer that uses the drone several times a week.

The on-demand format can go from US$ 10.00 up to US$ 25.00 per hour. If you don’t use your drone all that frequently, this becomes the better option. On the other hand, annual coverage fee can go between US$ 600.00 up to US$ 800.00 and that’s it. Obviously, after punching in your numbers, you will know what is best for you.

Now that we’re on the same page, you’ll perfectly understand these 5 reasons why you will need a drone insurance policy.

1 ) Accidents happen. Period.

Your liability insurance will cover medical costs to people injured by your drone’s crash or activities. Without this insurance, you could face massive legal fees which can quickly add up from a crash or an incident. Let’s be honest, you never know what’s going to happen. Technical failure or failing to avoid an object can result in any type of accident.

A Drone insurance policy is a great way to protect your drone damage. Without it, if you crash or lose control of your drone while flying, there is no one else to blame but yourself. With a Drone insurance policy, if your drone crashes and sustains any damage, you’ll have a plan.

Even if you don’t crash your drone, it may be stolen or damaged in an accident with someone else’s equipment.

2 ) Professionalism – Set yourself to Win with Drone Insurance

Being a certified and insured drone pilot and photographer gives tremendous trust to higher-end clients. Some clients will actually require you to have insurance for your work because otherwise, they could end up taking the blame since they hired you in the first place.

A drone insurance plan can help improve your safety when operating the drone both on and off-site without disturbing the people around you.

CoverWallet offers Drone Insurance for Business. Get a quotation now and learn more.

3 ) Get Drone Insurance to Protect your assets!

As a drone photographer, beginner or pro, you will find out fairly quickly just how much profit you can get from aerial photography. If you’re starting out, the last thing you want is to have your equipment or drone destroyed in a crash. Not only would that be an expensive loss, but it’s something that could easily happen if you’re not flying very carefully.

Insurance will cover the cost of repairing or replacing damaged drones and equipment which may be a big deal for your drone business. Without insurance, you could face thousands of dollars in damages when things go wrong.

4 ) Good Fences make Good Neighbors

Nothing ever goes as planned, or at least most of the time. This statement can’t be more true for drone pilots. Even if you’re flying your drone in your backyard, the chances for an accident happening are just the same when during a shoot. Just picture it, you’re showing off your new DJI Mavic 2 Pro to your friends and family and accidentally something doesn’t go as planned and your new drone ends up at John’s, your neighbor, car window. You will definitely start by apologizing to John and by all means, he understands, but he will also understand that you’ll need to fix it.

This scenario can be a tad bit extreme, but even something as minor can happen in your own household. If good fences make for good neighbors, then insurance is just as important. It’s best to prevent it rather than be sorry, get insured.

5 ) Poor Perceived Safety

Even though you are a vetted drone pilot, you can still have an accident. No one is perfect and no one purposely wants to have an accident, it’s ridiculous, we get it. When when we are confident of ourselves we may take security for granted. We tend to get a bit laid back when it comes to the security and safety of our operations. You have so many hours of flight under your belt right? Why worry? This chain of thought is will make us overlook details that might get us (or our drone) in harm’s way.

If you already have bought a high-end professional drone, you know how much these can cost.

A crash resulting in drone repair or replacements is not fun at all, or cheap for that matter. You’re looking at at least several hundred dollars to a couple thousand, depending on your situation and needs. Time is also a resource. Time invested in waiting for parts or repairs is wasted time. The repair time and money lost is something you won’t ever recover.

If you are interested in learning more, a very viable option is CoverWallet. They offer Business Insurance for Drones. Get a quotation now and learn what options they offer that are the most convenient for you.

Pro Tip! – Safety Gear

It is unfairly common for people to come up to you in an awkward or rude manner when operating your drone, requesting information regarding your presence and permission to do your work. This interrupts your highly focused work, consuming the time for you and your client. Even if you have all the permissions, certifications, and insurance, people will at times approach to ask questions.

Wear safety equipment while operating your drone. Something as simple as a safety yellow jacket could suffice, but anything that can indicate any passerby that you are officially working with will help to get them out of your way.

If you have any questions or comments, write to us in the comment box below!

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