Insurance for Drone aircraft
Getting drone insurance is a smart move if business is being conducted. If you’re making money with your UAV, or you plan to in the future, insuring it could save you a lot of money down the line if an accident happens. And let’s face it, UAV technology isn’t perfect. Fly-aways beware! Getting drone insurance may also help you close clients (who may not want to work with you unless you’re insured). If anything, you’ve got peace of mind knowing that you’re covered in the unlikely event of an accident.
Insuring your drone is a relatively new concept. First of all, do you even need drone insurance? If you want to be insured, your homeowner’s insurance likely does NOT cover use of your drone, even if you’re just operating recreationally in your own backyard. Some companies will only insure you if plan to pilot your drone commercially as a professional pilot.
In the U.S., UAV insurance is not currently required for either recreational or commercial RC drone use. In Canada, though, if you’re operating commercially you must be covered for at least $100,000 liability.
In some instances, you might need a minimum level of insurance coverage to take on a project, whether it’s needing to secure a city film permit, or working with a larger company that requires insurance for each of its vendors. At the end of the day, all serious UAV pilots have liability insurance. It’s a strong, credible indicator for your business prospects. Insurance shows that you’re professional and reputable.