Even though the average person buys a drone to use for recreation, as a hobby or to pursue an interest in photography, there is still a need to insure these devices. Aside from the cost of replacing the drone itself, an accident can cause damage to device attached to the drone, such as photography equipment. When a drone is uninsured, that damage will come out of your own pocket.
A drone itself may cost as little as $40 or as much as $2,000 and, according to the FAA, they are classified as aircraft. This indicates that the government treats drones as something much more serious than a new toy. It may not be long before drone owners are required to insure their drones with minimal liability insurance. As they are viewed as aircraft, that seems to be a logical next step, especially if drone accidents continue to rise.
While drone insurance may have initially been intended to cover damage to police or military drones, the application of these kinds of insurance policies have been expanded to cover private owners. Typically, drone insurance is inexpensive, costing an individual under $100 per year, though that sum may be adjusted for equipment that has been attached to the drone.
Even though the technology is still fairly new, reports indicate that drone accidents are fairly common. Many of the personal drones in the air today crash because they lose power or due to operator error. Most private owners are untrained, so it’s not surprising that the vast majority of drones crash due to careless operation.
Drone insurance covers four main areas:
Invasion of privacy
Like auto insurance, drone insurance does more than cover damages. It protects you in the event it inadvertently violates someone’s privacy or damages their property In some cases, a drone can crash and cause harm to another individual. Without proper coverage, you could be personally responsible for paying those medical bills and more. Your insurance agent can provide you with more in-depth information about drone insurance policies, particularly in how they’re applicable to your specific situation.