The sky’s the limit for your drone but make sure you’re in the know about limiting your liability.
The blue sky is calling and you’re ready to let loose with your drone. But if you don’t want to end up calling your insurance agent because of damages you drone has caused, it’s a good idea to be in the know when it comes to liability.
Drones generally must be registered with the Federal Aviation Administration; the average cost is $5 for drones weighing from 0.55 pounds to 55 pounds, registration usually covers three years. For detailed information visit FAADroneZone.
Damage caused by drones might be covered by the liability portion of your renter’s or homeowner’s insurance policy but be aware that the coverage details can vary by insurer. According to Bill Wilson, an insurance educator who oversees the InsuranceCommentary.com blog, “Some homeowners policies cover ‘model or hobby’ aircraft; others cover only model aircraft, and others exclude any aircraft.” Your insurance agent or company can explain the specifics of your policy and how they relate to drone usage. Some policies cover hobby use of a drone but not commercial use for business purposes.
If your drone dive-bombs your car, damages most likely would be covered by the comprehensive coverage on your car insurance. Damage to someone else’s car might be covered by the liability coverage on your homeowner’s or renter’s insurance.
And if a rogue drone inflicts injury on others, your home insurance policy’s no-fault medical coverage may cover the cost. But according to the Insurance Information Institute, drone-induced injury to your own family members doesn’t fall under this type of coverage so you might want to make sure that you’ve removed your beloveds from the drone’s flight path before launch.
And finally, a stolen drone doesn’t have to mean that you can no longer steal away for hours of flying excitement: Your homeowner’s or renter’s insurance may pay to replace your drone, minus the deductible.
As the popularity of drones increases and their technology improves, insurers will continue to fine-tune their coverage; check the III‘s Drones and Insurance Guide for the latest information. Armed with the facts, you’ll be ready for your drone to take to the sky without you being taken by surprise should a mishap occur.