Drone Insurance

[J5255]

Canada ? ! ? I have called and contacted three different insurance companies with regards to acquiring liability insurance ($100,000) for commercial use. Two had no idea what I was talking about, and the third, said he would put in an application, which is currently in the works (no estimate yet). I am also finding several ambiguities in the DOT regulations with respect to where you can/cannot fly commercially, which an insurance company could exploit and deny a (any) claim.

Conclusion: I am spending way too much time on this !

 

[r62ewa]

Canada ? ! ? I have called and contacted three different insurance companies with regards to acquiring liability insurance ($100,000) for commercial use. Two had no idea what I was talking about, and the third, said he would put in an application, which is currently in the works (no estimate yet). I am also finding several ambiguities in the DOT regulations with respect to where you can/cannot fly commercially, which an insurance company could exploit and deny a (any) claim.

Conclusion: I am spending way too much time on this !

My Steers agent went to a Specialty Market to get my commercial insurance.

 

[thunderbird]

Im having hard time to find 1 in Canada as well

 

[eyecon82]

I've been told that if you file a claim, your insurance rates are jacked up on the future

 

[Sim597]

Yeah see I already have them, I'd rather have done a one time payment. ($60 big deal) but because we have the Polaris RZR and both cars and trailer, basically everything but the house is SF so it's $5 a month. And I'm in Texas but had SF in Illinois too


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[Sim597]

I've been told that if you file a claim, your insurance rates are jacked up on the future

Not true, but, it can happen I suppose. I doubt this would be the case though. I'm starting to feel ill never need it, but nice to have


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[Sim597]

My Steers agent went to a Specialty Market to get my commercial insurance.

Oh wait though, this isn't any liability at all, this covers the drone and only for hobby use, homeowners covers my liability, but not commercial, these are two different animals


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[Sim597]

So what happens if you lost the bird in water and unable to recover will they cover that as well? Or would I have to tell them it was stolen for them to cover it.

That's why it so much better then DJI policy type deal, which the don't call insurance.


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[Sim597]

Yeah im sure they will know and tell you. Someone on another thread did say they filed a claim and they jacked their premium up!

I'd like that link please


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[craigsdal]

I contacted a local State Farm agent here in the Milwaukee area. Same story as many others. Wasn't aware of the drone insurance until they contacted corporate. Said $60, however it does not cover any mechanical problems. Still doesn't seem like a bad deal for the money.

 

[David Mielcarek]

Here's some real life reactions by insurance companies to the word "drone" (jump to 3:59)

 

[pounder35]

I'm in New Hampshire, I was told it covers everything, full coverage. This is a new policy for State Farm. The policy was actually $21 but the agency has a minimum on policy issues of $60.


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Is that an annual rate and does it cover any type of loss such as your bird going down in a lake which happened to my first P2V? I recently clipped a tree with my P3A and had to replace the gimbal and camera. That cost about $300 USD. Both incidents were pilot error. If insurance would cover that I would jump on it. It would make me a lot less nervous flying over water which I tend to do a lot in spite of what happened to my first bird.

I will check with my State Farm agent Monday. I would also add that I have liability insurance through my membership with AMA (Academy of Model Aeronautics). It's very reasonable and here it's required for flying on a city owned "flying field".

 

[Ridebonfire]

I think someone needs to file a claim and see exactly what happens.. If they cover the $1400 but raise your car premium by $100/m it's not worth it.. But if it's only a couple dollars that's not too bad.

I wonder if they'll give me that data if I ask.

I was an insurance agent and now an Underwriter responsible for rages. Claims only affect similar policies. A personal articles floater claim will increase your renters, homeowners, or fire insurance policy. By how much depends on your carrier and other factors. Insurance is not designed to be used frequently so I would recommend if you do file a claim, it be for a total loss only and not repairs. If you file 2+ claims within 2 years it may start to become difficult to find homeowners kr renters insurance even though the policies are not technically related.

 

[JudieL]

WHAT? That's amazing!

 

[SGs]

Just covered my Phantom 3 Professional through State Farm at the rate of $33 a year. Basically says I'm covered for any type of damage or loss, at a steal of a deal. Hope I never need it, but couldn't pass that up.

 

[BobMcKinlay]

I just got a full coverage policy on my P4 for $60 through State Farm. Covers everything including accesories, fire , theft, lost, damage!

I got the exact same deal thru State Farm though I think mine was $75 or so. Long time home and auto customer. Zero deductible, ~$1300 per incident limit. I believe it's called a personal article policy. Liability property and injury covered to $500k on my homeowner policy. I believe the drone policy also has ~$100k liability as well. Best deal in town.

 

[ironwolfjt]

where you located? I saw another thread talking about insurance and called a state farm in California. They said they dont cover.

Same here....one State Farm office in Fort Smith says yes to damage coverage and no to liability coverage and another office locally says yes to damage coverage and yes to liability coverage.

 

[Sim597]

I got the exact same deal thru State Farm though I think mine was $75 or so. Long time home and auto customer. Zero deductible, ~$1300 per incident limit. I believe it's called a personal article policy. Liability property and injury covered to $500k on my homeowner policy. I believe the drone policy also has ~$100k liability as well. Best deal in town.

My policy says right on it I think that's it's for loss coverage, not for liability, if one says it and the other doesn't, guess which one is wrong? I can....


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[Sim597]

I can also guess how they would react, and it may, prolly change over time, the only positive thing I can say is the longer I can fly without filing the better off I am.


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[Sim597]

I was an insurance agent and now an Underwriter responsible for rages. Claims only affect similar policies. A personal articles floater claim will increase your renters, homeowners, or fire insurance policy. By how much depends on your carrier and other factors. Insurance is not designed to be used frequently so I would recommend if you do file a claim, it be for a total loss only and not repairs. If you file 2+ claims within 2 years it may start to become difficult to find homeowners kr renters insurance even though the policies are not technically related.

So, homeowners is thru someone else, no renters thru them, no fire, just all our cars and toys, so what could they raise? My auto insurance?
You didn't state that just curious. I know ppl that filed one claim for lightning and were dropped, wasn't State Farm, which he cannot even get, maybe he could just can't afford it now.
A year ago coming home from Illinois something fell off a truck and I nailed it (doing about 90 in my challenger) and it was a hell of a wreck, had to stop about 3 or 4 times to pull parts hanging off and duct tape the rest to get home.
State Farm called me back after telling me I was gonna be at fault, but they must have listened to the recording because I was then told because it was still moving, it hit me, I wasn't on the hook, comprehensive policy paid for that one, about $4500 in damage to just the front valance and bumper. I thought that was pretty cool if them. I've had $4,000 car stereo claims back in the day, ripped my stuff off at a car dealership getting fixed, twice. Just can't have nice things


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