Insurance ?
- Thread starter wstimax
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Here's a link to the Academy of Model Aeronautics club membership info. Their membership come with insurance plus other benefits. Click the different tabs on the website for more info. I am not a member but I'm thinking about joining.
http://www.modelaircraft.org/membership/membershipoptions.aspx
http://www.modelaircraft.org/membership/membershipoptions.aspx
PatR
Premium Pilot
The AMA's insurance may work for some recreational flyers but remember that insurance is 'secondary" to any other insurance you may have, like home owners or an umbrella policy, that might also provide limited coverage. Also understand the AMA insurance has some pretty tight field safety compliance requirements for it to provide any coverage. Their $1,000.00 theft insurance works well for everyone that locks their vehicle but still lose their equipment though.
If you're looking to obtain "typical" aviation type coverage the rates are pretty high. As a very experienced commercial operator the least expensive I've encountered for $1 million of liability coverage for a single aircraft, single operator ran $975.00/year
For a two aircraft, two operator policy providing full hull, carried equipment, war and terrorist act, for $2 million in coverage the policy cost runs ~$3200.00/year. The same company providing just $1 million in liability only coverage for two aircraft runs $1650.00/year.
Seems to me they don't have their actuarial tables worked out yet because the coverage for sUAS is terribly high compared to what it runs to insure most full scale general aviation aircraft. What can be difficult for some is that many insurance companies want to know your experience levels, hours of time with type, and review your SOP's, maintenance, and safety policies before they will provide a quote. If you weren't keeping flight, maintenance, and battery logs they will refuse to provide a quote. Some are now asking if you secure your flight data, and how it's secured.
For those that don't do a whole lot of commercial flying, but do want to be covered for what commercial flying they do, Verifly is probably their best bet. If you can coordinate your operation times to fit within the coverage windows you schedule with your phone you can get a 1 hour job done for a $10.00 insurance fee for $1 million of liability coverage. Higher coverage amounts are available for a higher hourly fee. The downside of Verifly is it references the FAA's know b4ufly map to establish if a flight is permitted in a given area, so places you could legally fly might end up denied coverage. However, it is an easy to use system that doesn't dig deep in your pocket if you're only flying a limited number of commercial hours a year.
If you're looking to obtain "typical" aviation type coverage the rates are pretty high. As a very experienced commercial operator the least expensive I've encountered for $1 million of liability coverage for a single aircraft, single operator ran $975.00/year
For a two aircraft, two operator policy providing full hull, carried equipment, war and terrorist act, for $2 million in coverage the policy cost runs ~$3200.00/year. The same company providing just $1 million in liability only coverage for two aircraft runs $1650.00/year.
Seems to me they don't have their actuarial tables worked out yet because the coverage for sUAS is terribly high compared to what it runs to insure most full scale general aviation aircraft. What can be difficult for some is that many insurance companies want to know your experience levels, hours of time with type, and review your SOP's, maintenance, and safety policies before they will provide a quote. If you weren't keeping flight, maintenance, and battery logs they will refuse to provide a quote. Some are now asking if you secure your flight data, and how it's secured.
For those that don't do a whole lot of commercial flying, but do want to be covered for what commercial flying they do, Verifly is probably their best bet. If you can coordinate your operation times to fit within the coverage windows you schedule with your phone you can get a 1 hour job done for a $10.00 insurance fee for $1 million of liability coverage. Higher coverage amounts are available for a higher hourly fee. The downside of Verifly is it references the FAA's know b4ufly map to establish if a flight is permitted in a given area, so places you could legally fly might end up denied coverage. However, it is an easy to use system that doesn't dig deep in your pocket if you're only flying a limited number of commercial hours a year.
I have a Q500 4K, It's insured through State Farm and it cost me $60 a yr.,no deductible, full replacement cost in case of accident/theft, etc...I'm glad I have that policy because I had a claim in May 2017 when my drone went haywire from about 125 ft up and actually flipped itself upside down and shot itself straight into the ground. The State Farm agency mine is insured at only needed the sales receipt and serial number from the Q500 4K drone. After my accident and filed the claim I had a check ($800) in the mail in less than a week. I went and got another Q500 4K took it and the sales receipt to my insurance agents office and they put the new one on the old policy which still has several months remaining on it.
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Yes, it basically is covered under my homeowners policy which obviously has liabiliity coverage for personal injury or property damage. State Farm will not insure a drone though if it's used for commercial purposes, only for recreational use. .
That that sounds good .. Instead of one of these fly by night online agents just try my local agent I already use. I will give liberty mutual a call and see if they do it.. God knows with my business the own my right arm already .. Thanks guys..
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I use the verifly app for my commercial drone business. It does work out to be more expensive but it sure makes billing the client a lot easier.
PatR
Premium Pilot
FlushVision
Premium Pilot
My commercial insurance (U.K. based) costs me a little over £400/year which covers my equipment to the value of £2000. It includes war and terrorist acts, impounding of equipment, covers data protection and even any litigation against me including any legal action under the Data Protection Act. I would say how much my liability insurance cover is but my policy forbids me to say what it is...but it's enough. Moonrock Insurance.
Very intersesting. Im anxious now to see what my AS agent says regarding UAV insurance. Thats great peace of mind for cheap
