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Homeowner's Insurance Cover Flyaway?

Discussion in 'General Discussion' started by npalen, Apr 30, 2014.

  1. npalen

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    With all the reports of flyaways, I'm wondering if homeowner's insurance would cover the loss. I've not thought to check with my insurance agent on this but probably should. Maybe someone can give some insight?
     
  2. markn

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    In the US, most homeowners policy follow a standard format for personal property, of which the Phantom would fall under. Personal property is typically insured for loss against a list of identified perils or causes or loss. Fire, lightning, theft, volcano, smoke, vandalism, etc. So, unless it is specifically identified as a named peril, there would be no coverage. If it simply flies away, there would be no coverage. However, if it were to fly away and land by itself immediately before being run over by a car, then I'd think you have coverage subject to the deductible, as vehicle damage is a named peril.

    There are policies covering personal property under what is sometimes called all risk, but there are still exclusions which would apply which may limit coverage.

    The intent of any such policy is to protect against sudden and accidental damage.
     
  3. d4ddyo

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    I'm a former P&C Agent. No it's not covered for "fly-away".

    You do have insurance for damage to people or property that you may cause flying it regardless where you are. That falls under the liability section of your Homeowner's. I advise people to increase their liability to maximum because its so cheap and buy umbrella policy in million dollar increments to extend over and above home and auto.

    Even if it were covered why would you claim it? 1st... Your insurance possibly could go up because now you have a claim on your policy. 2nd.. your policy has a deductible that needs to be satisfied... i've seen policies with $250 deductibles but most carry $500+ maybe even $1000

    To replace your phantom let's say a P2Z with gopro... let's say new $1300... with $1000 deductible you would get a check for $300.
     
  4. twodips

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    I'd like to add one thing here. I spoke with my agent just last week about my P2 and coverage. She checked with underwriting and told me it's covered for any loss including fly away. Worst case we all "know" the wind can grab things and blow them away right? :shock: (humor)

    As for the why would you claim it? That's a very real concern just like any insurance claim and not something to be taken lightly or trifled with. Insurance companies do NOT like claims, even the ones they keep touting like windshield free repair/replacement. Do that enough times and you will most certainly feel the pain even with the "no cancel guarantee" policies. They may not cancel you BUT they will make you want to leave by raising fees or lowering coverage or both. Also remember that insurance companies have a database ("Clue" or like database) that tracks every claim/claimant. The more you're in there the worse it gets for you.
    I am looking into getting a total loss rider for my P2 and weighing the cost (if available) with the odds of a total loss.
    One other thing, I've been told by more than one agent that the way you should look at insurance is it's there to cover costs that are greater than you could possibly afford to cover like major car damage or house burning down, not the broken windshield or dinged fender or leaky pipe.
    Sad for what they advertise and the yearly cost but they are in control as of now...
     
  5. d4ddyo

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    Interesting that your underwriter in your company said that was covered... because when there is a claim filed that's when they will look into this a little more. The cause of the "fly-away" is either fault of the manufacturer by some defect, negligence, or pure accidental (interference? In which case it's your fault because you close to fly it then and there). They will find a way not to pay it and you just made a claim. I have heard of covered losses that weren't paid because of many reasons.

    Making claims even if you don't receive money increases you as a risk and can increase your insurance premium. Honestly it's too small a claim to be worried about in terms of damage to your phantom especially if you take the deductible into account.

    I had a client once that his kid ruined a ATV... made a claim minus deductible... then he had a water damage claim/broken pipe. He is now considered un-insurable. He couldn't get insurance anywhere and was denied. He had to go to the excess market like Lloyd's of London that will insure anyone. His Homeowners policy skyrocketed to the thousands and he couldn't' do anything about it... he still had a mortgage and had to put it in escrow. There goes his monthly payment.

    I'm surprise your agent didn't discuss this with you. Maybe there is some sort of consumer warranty that is available that can cover this. Think about what they sell you at best buy to protect your stuff.
     
  6. npalen

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    I did ask my State Farm agent a while back about liability coverage under the homeowner's policy. He said that the liability coverage is there as long as the copter is not being used commercially.
     
  7. ericdes

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    Canadian here.

    I called my home insurance company, twice. Here is what I got, twice, and this is after being very thourough the second time.

    Yes the Phantom is covered'
    - For liability damage (2,000,000$)
    - For loss, at anytime even during use (including fly-away)
    - For damage, at anytime even during use (and that includes it plunging in a lake).

    In short, the thing is completely covered anywhere on the globe, at any point, anytime, for anything.
    You need to pay the deductible, whatever yours is.

    This includes the Phantom and whatever else is on it (gopro, FPV, etc..)

    It took me 45 minutes of constant talking with the rep, who knew the Phantom, to get these responses. He knew is stuff.

    Call your company and ask.
     
  8. canadavenyc

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    What insurance company is this?? We have CAA home insurance, and they don't cover anything except if it's stolen from our house (as property).
     
  9. ericdes

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    Desjardins home insurance.

    All RC Equipment falls under that umbrella.
     
  10. enseth

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    I'd like to see what happens when someone actually tries to put in claim for a fly away. In my experience Insurance Companies generally don't like paying out very much, but then again I'm probably just a little bit cynical.
     
  11. thedjiguy

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