Drone Insurance

[VVATC]

Just got off the phone with USAA.

My P4 is covered under my home owner's policy when used for recreational/hobby purposes for theft, damage, or peril and is subject to a $1,000 deductible. My home owner's policy also provides for up to $500,000 of liability for injury or property damage which is not subject to a deductible.

USAA offers a valuable personal property rider but it doesn't cover "drones" at this time. However, their underwriters have been looking at covering them since USAA has had an increase in inquires lately.

 

[puredata]

So if you crash your $850 drone you'll have a $1000 deductible?

Better buy an Inspire 2 then.

 

[VVATC]

So if you crash your $850 drone you'll have a $1000 deductible?

Yes, which is what makes those personal property policies enticing. $60/year is decent for loss of the drone with no deductible. $20/year would be better. But for $60/year I'll just keep $1,000 tucked away and save myself some money.

However, I didn't realize that my home owner's property would cover liability and property damage so I figured I would share.

 

[Xenomorph]

However, I didn't realize that my home owner's property would cover liability and property damage so I figured I would share.

That's good to know! Thanks!

 

[brolland]

Interesting reads here. I have Allstate and ran into a roadblock. My neighbor is a State Farm Agent so I called him and he is going to put something together for me and call me. My hope is that it's the same as everyone else has been quoted. More than worth its cost as I Bass fish professionally and will be using my P4 around lakes and river systems.


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[cstout]

Yes, which is what makes those personal property policies enticing. $60/year is decent for loss of the drone with no deductible. $20/year would be better. But for $60/year I'll just keep $1,000 tucked away and save myself some money.

However, I didn't realize that my home owner's property would cover liability and property damage so I figured I would share.

Your mileage may vary on this, though. I just got a response from underwriting from Nationwide (my home insurance) and they do not cover damages to property other than your own. Also, damage to the drone itself is only covered if damaged while on your own property.

 

[Tazama]

Interesting reads here. I have Allstate and ran into a roadblock. My neighbor is a State Farm Agent so I called him and he is going to put something together for me and call me. My hope is that it's the same as everyone else has been quoted. More than worth its cost as I Bass fish professionally and will be using my P4 around lakes and river systems.


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State Farm should cover it under a personal articles policy. That's exactly why I covered mine because I'm around water all the time. They told me if it's lost in a lake, river, or ocean it's covered.



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[Gary Vaughan]

Can you give me your broker's contact info please. I have State Farm and the broker said that "they don't cover drones". Thanks.

I think it depends on the state. I'm in GA and you can call my agent - Doug Marrinson agency - Sherry Houston helped me. P: 678-377-6789

 

[schlepprock]

I just got a policy from State Farm. 60 a year for 1000 coverage and no deductible. Phantom 4. I'm in NC and had to call four different State Farms before I found one that would cover it.

 

[Travels with Yoly]

We currently have a car, a truck, a truck camper and our home insured with State Farm. Previously we had 2 travel trailers and a boat insured with them also. A little over a year ago, I had a camper that was basically a converted utility trailer and I wanted to insure it. My Rep told me that the premium is based on frequency of use and replacement value. The utility trailer had a retail value of $5.5K and the Rep told me that the cheapest policy they can write is $60 so that's what it cost for a $5.5K trailer. Our $10K boat was about $150 a year and the $20K travel trailer about $250.

So I'll be calling them tomorrow to insure my new P4 arriving tomorrow. Since $60 is the least they can charge, I'll be adding as much stuff to the $1054 ($999 + tax) Phantom cost to include the previously purchased P3 back pack I had purchased a year ago since I doubt the premium would go up until I got over $1500.

I have already spent $550 to replace the camera and gimbal on my previous P3A and wrote off the P3 entirely in November when I parked it at the top of a 160 foot tall tree. I managed a meager $260 return selling the remaining components on Craig's List. So for me, I think $60 a year is what I would call "good insurance"

UPDATE: I got the State Farm Insurance and put my new Lumix FZ300 camera on the same policy as the P4. All for $60 with no deductable. Also sold the camera and gimbal from the downed P3A bringing my recovery total to $345

 

[toddff]

Commercial insurance is different. The AMA won't cover you unless you are at an AMA recognized flying field. If you are looking for commercial insurance covering you, the drone and at least 1M in coverage I would consider one that specifically is meant for that like Global Aerospace Insurance. Cost is about $900 a year.


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[Travels with Yoly]

Commercial insurance is different. The AMA won't cover you unless you are at an AMA recognized flying field. If you are looking for commercial insurance covering you, the drone and at least 1M in coverage I would consider one that specifically is meant for that like Global Aerospace Insurance. Cost is about $900 a year.


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I'm not positive but if you have a commercial certificate FAA Part 107 you would need something like this for commercial work.

 

[MassGuy]

I didn't read the whole thread so I'm sorry if this question has been covered. Has anyone here filed a claim for a lost or damaged drone and if so, how was the process? I haven't insured mine yet but will be doing that soon for peace of mind.

 

[MassGuy]

I just contacted an agent in my state (MA). He said State Farm doesn't offer drone insurance in MA and RI.

 

[normr]

I just contacted an agent in my state (MA). He said State Farm doesn't offer drone insurance in MA and RI.

I'm not doubting you, but I would call a few other State Farm agents just to make sure, I'm in Florida and the first 2 agents I called told me they didn't have any policies that would cover a drone, luckily the 3rd SF agent who is also a pilot checked with the underwriters and found out that the Personal Article Policy would cover it, in fact all my accessories including batteries, chargers, memory cards, props, backpack and so forth are also covered by it, so he had me itemize all my things with the values and I'm covered for $1900 worth of equipment in case it got stolen.


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[BuickGS]

I just contacted an agent in my state (MA). He said State Farm doesn't offer drone insurance in MA and RI.

I agree with Normr, I would call a few other agents, or ask you agent to verify that with his corporate. My agent had to call to verify that they could cover it. Oddly enough, the day I called then they had one other person call earlier to ask the same question. She said that was the first time anyone had asked about drones. It would be worth pushing a little more to find out for sure it its a state by state thing, or an agent that is not aware that they are indeed covered.

 

[MassGuy]

I'll dig a little deeper to see what I can find. The guy that I talked to said people on the forums have posted that they insure drones. I wonder if he was referring to this thread?

 

[antnyp85]

I am happy to report that after finally speaking to State Farm today, they confirmed they can offer coverage for my Phantom 4. A policy for 1 year is going to cost me $50.00 which is nothing compared to what DJI charges for their protection plan. No deductible if I crash etc. I just had to submit "proof of purchase" which I told them it was a gift, so I am sending my gift receipt from Best Buy, along with a print-out from Best Buy's website showing the retail cost of the Phantom 4. I'm so happy they are able to provide this kind of coverage for such an affordable cost.

 

[John Locke]

I am happy to report that after finally speaking to State Farm today, they confirmed they can offer coverage for my Phantom 4. A policy for 1 year is going to cost me $50.00 which is nothing compared to what DJI charges for their protection plan. No deductible if I crash etc. I just had to submit "proof of purchase" which I told them it was a gift, so I am sending my gift receipt from Best Buy, along with a print-out from Best Buy's website showing the retail cost of the Phantom 4. I'm so happy they are able to provide this kind of coverage for such an affordable cost.

For damage or loss due to theft or fire that sounds like good protection. However that doesn't cover any liability, correct? I worry more about harming others than losing my drone if things went awry.

 

[JMFinch]

My State Farm agent's office did not think drones were covered. They called underwriting to learn that my current policies covered me. I only asked about liability coverage though.


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