7 Problems With Not Having Drone Insurance

Unmanned aerial vehicles—which are often abbreviated UAV or just called drones—are becoming increasingly popular for personal use. With that rise in popularity has come a rise in accidents and property damage. There are at least seven reasons why it is in your best interest to secure drone insurance.

1. It may be a legal requirement. 

The law is scurrying to catch up with drones. The FAA is establishing no drone zones and other regulations and the Department of Transportation is taking similar steps. But laws are being enacted at the state and local levels too, and one of the changes becoming prevalent is the requirement to be insured while operating in public spaces as well as private areas not owned by you.

2. It may be a location requirement.

Just because your state doesn’t require doesn’t mean that it’s not required at all. Your local jurisdiction can and may especially if you live in a town, village or the like.

3. You’re liable. 

If a personal injury or property damage occurs while operating a drone, you are responsible whether or not you’re insured. Even if you let someone else use your drone and they cause the damage or injury, you may still be on the hook partially or in full.

4. Home insurance may not cover you.

Many people believe that homeowner insurance covers them in the event of a drone accident. Insurance statistics show that this kind of coverage is actually uncommon, so be sure to check your policy. Even if you are covered, pay particular attention to the conditions.

5. The cost is relatively insignificant. 

Despite the rate of drone accidents being quite high, total damages caused by drone usage is relatively low overall. That has resulted in rates that are practically negligible. When you consider the potential damages, it’s hard to make an argument against this low cost.

6. Damage is more common than you may think. 

Drone accidents are not rare. In fact, the rate at which incidents are on the rise is what prompted the FAA, USDOT and other agencies into action when they had previously seemed a bit reticent to enter those waters.

7. Can’t use your drone for business without it. 

If how you are operating your drone can be deemed as “for commercial purposes,” then you absolutely need insurance regardless of your state, your local jurisdiction and the area in which you are operating. It is a federal law that all commercial drones must be regulated.

Better to be safe than sorry. At the very least, drone insurance provides you peace of mind. In the worst case, it can be help avoid a heavy hit to your wallet.

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