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The Drone Girl
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Do I really need drone insurance anyway?
- Drone insurance is not a Federal Aviation Administration requirement, but can be critical for commercial drone pilots to safeguard their business, clients, and equipment.
- The need for drone insurance has grown with the expansion of drone use in various industries like real estate, construction, and filmmaking.
- Drone insurance protects against damages such as mid-flight malfunctions leading to accidents or property damage.
- Commercial operators may require drone insurance to secure contracts as many clients demand it, even though it's not mandated by the FAA.
- Considerations for buying drone insurance include business needs, client expectations, and regulatory compliance requirements.
- Types of drone insurance include liability insurance covering damages to others, and hull insurance protecting own equipment from damage.
- Industry-specific insurance benchmarks range from $0.5M to $10M depending on the business and flights involved.
- Choosing the right drone insurance plan involves assessing ongoing coverage for regular flight operations or on-demand insurance for occasional pilots.
- Drone insurance costs vary, with monthly policies starting at $44 for liability coverage, while on-demand rates start at $10 per hour from providers like Skywatch Insurance.
- Picking a drone insurance policy that can evolve with your business needs is crucial, along with understanding specific client endorsements and backing from reputable companies like Global Aerospace.
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