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Insurance for drones - replacement and liability

Discussion in 'General Discussion' started by ddublu, Jul 8, 2014.

  1. ddublu

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    I talked to USAA today and I can add my phantom 2 build as a personal effects policy for $5/mo...full replacement value, no deductible...there are a few caveats but this seems worth it to me. What it doesnt include is any liability coverage. I have seen some posts for the UK but not as many for US. Any suggestions?
     
  2. Wedeliver

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    I love it. Any restrictions? I think the warranty and insurance companys think that most of us are responsible and do our best to keep our equipment in good working order. Today, having coverage for my camera and especially my lenses makes me a happy camper.. and soon for my quad.
     
  3. ddublu

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    I was actually driving while speaking to the rep at USAA but I asked specifically about my concerns for fly-aways and actually losing my bird. Would I be able to claim a loss without actually having the P2 to show? He said he was going to look into that but based on the info he was seeing that would be covered. I didn't have much time to chat but am going to call them back today and will post back here my findings.
     
  4. Damon

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    I questioned my Home Owners Insurance Company about this topic. I was told over the phone it should be covered, since it is not excluded. Here is the quote in the email from the representative, however it does mention its ultimately up to the adjuster. Plus I have $500 deductible. :eek:

    Pemco Insurance:
    "Attached you will find a copy of your policy contract and the PM27 endorsement that broadens the coverage to all-risk; your personal property is covered unless it is specifically excluded under the limitations described. In the case of your questions regarding your hobby aircraft, mysterious disappearance would be a covered peril, however the final decision regarding a claim made on this policy is at the discretion of a property claims adjuster assigned at the time of the loss."
     
  5. The Editor

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    Sorry to burst your bubble guys but this will be denied if you ever try to claim!

    A flyaway will be classed as mechanical breakdown and will be given the big 'X' in the box by the adjuster on a homeowners policy!

    Insurance companies will promise you that everything including the kitchen sink is covered to get hold of your premium but wait until you try to claim on an R/C aircraft that lost control or flew out of sight!

    The onus will be on YOU to prove it was not pilot error or mechanical breakdown that caused a flyaway and how will you 'prove' that?
     
  6. ddublu

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    What about a policy that isn't under a homeowners policy such as personal property?
     
  7. razorseal

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    Just looked on USAA... apparently I'm no eligible for renter's ins because I live near an area that's subject to coastal flooding...

    UGH.... isn't that the point!?!?
     
  8. ddublu

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    My homeowner's policy (through a Virginia company called Mutual Assurance - awesome, BTW) would NOT insure me for liability out of the high risk nature of this "hobby."

    I did, however, find this - http://www.modelaircraft.org/membership ... rview.aspx

    Academy of Model Aeronautics. Checking into it more now.
     
  9. meow man

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    This will cover all, I applied and got accepted very expensive, I have quotes from 5 company's cheapest was $950 per year
    1,000.000.00 Liability only
    Then $1400 hull and liability with 10% deduction and keeps going up with other companies

    http://www.transportrisk.com/index.html
     
  10. razorseal

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    yeah, they sound expensive lol...

    so what are you paying for this one? if the cheapest was 950... I wonder what this is
     
  11. QYV

    QYV

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    no silly don't you know how insurance companies work? the point is for cash to flow FROM you TO them as much as possible, not the other way around.
     
  12. Hal

    Hal

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    They're actually concerned with wind, not flooding. The homeowners' policy doesn't cover flooding. Find an independent agent. They'll have no problem securing a policy for you.

    Well, yea. The company is trying to make a profit And stay solvent.
    While it's possible to make a case for coverage on an HO3 policy, it isn't intended by ISO policy forms. Mechanical breakdown coverage is an option on some policies though by the way. However, I don't recommended trying to rely on your Homeowners' policy for hull coverage anyway. The homeowners' policy is designed for larger, less frequent claims like fires and hurricane damage. The kind of claims which would create a hardship, not a $1400 personal property claim. This is why it usually costs less than your auto insurance policy, even though you are insuring far greater values in most cases. It's not worth putting in a claim for this, as the premium increase you may receive would probably outweigh the benefit. Even if your premiums don't increase most companies will drop you after 2 or 3 claims.

    More importantly, the homeowners' policy probably will pick up a liability claim, assuming you're using the drone for recreational purposes. However, you should always run it by the company first to be sure.
     
  13. Cerone

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    I had to add mine to my Personal Articles Policy.
     
  14. fly_it

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    I know this is an old thread, but can you share the other companies that you got quotes from? I'm researching liability insurance options right now.