I’m worried about my drone… I was thinking about getting insurance in case something happens. Anyone else have insurance for theirs? Any recommendations for a good company?
I have State Farm covering my drone as part of personal property. It’s around $6 a month.
If you’re looking at liability insurance, that’s where it gets pricey.
Jade said:
I have State Farm covering my drone as part of personal property. It’s around $6 a month.
If you’re looking at liability insurance, that’s where it gets pricey.
How much coverage do you get? Seems like more people have this than I thought. I already have renter’s insurance with State Farm. For $6 a month, it sounds like a good deal to cover my drone and other gear.
@Zeek
I’ve got $2500 coverage on my Air2s and Mini 2.
For commercial work, you might need something more flexible. Check out Skywatch.ai; they let you buy insurance by the hour, so you only pay when you need it.
@Zeek
It really depends on how much you need. I have $1000 coverage, and it costs me about $6 a month with no deductible.
There’s a lot to think about, especially your budget. If you’re just looking for basic coverage and can afford to replace your drone yourself, maybe skipping insurance is fine. After all, insurance is a business, and most people won’t need to make a claim.
But if you do want coverage, check if your current homeowner’s, renter’s, or auto insurance offers a ‘valuable personal property’ option that includes drones. State Farm is popular, but other companies might offer it too. Make sure you get it in writing.
For liability, I’d say it’s a must. It only takes one mistake, like hitting a power line, and you could be facing big damages. Liability insurance covers you if something unexpected happens, like your drone injuring someone or damaging property.
I use Avion Insurance, which is more of a traditional aviation insurance company. They cover recreational and commercial use, liability, and hull insurance 24/7. It’s about $770 a year, but I live in New York, so it might be cheaper elsewhere.
I use DJI Care.
Blake said:
I use DJI Care.
That’s only helpful if you can find your drone. If it’s lost, it won’t cover you.
Blake said:
I use DJI Care.
That’s only helpful if you can find your drone. If it’s lost, it won’t cover you.
They offer flyaway coverage too, so you’re still protected if you can recover it.
@Blake
Flyaway coverage can still be pricey though. For a high-end drone, you’ll pay a significant fee if it’s lost. If you’re paying for DJI Care, it’s around $16 a month for two years, plus extra costs if something happens. You can get full insurance for about $1000 a year that includes liability and hull, so you’re covered in every situation. It might be more expensive, but at least you don’t have to worry.
Usually, insurance isn’t worth it unless you’re prone to risky flying. Just fly carefully, don’t overextend yourself, and save up for emergencies instead.
Val said:
Usually, insurance isn’t worth it unless you’re prone to risky flying. Just fly carefully, don’t overextend yourself, and save up for emergencies instead.
Why do you think it’s not worth it?
@Ashwin
Insurance companies are there to make a profit, so if they make money, you’re probably not getting good value.
If it’s bundled with other coverage, it might be okay, but make sure drones are actually included. It’s easy to overlook the fine print.
@Val
State Farm offers $1000 coverage for around $6 a month with no deductible. That’s pretty good, don’t you think?
Ashwin said:
@Val
State Farm offers $1000 coverage for around $6 a month with no deductible. That’s pretty good, don’t you think?
$6 a month for $1000 coverage is not that great when you think about the paperwork and possible exclusions. You might be better off just setting aside some extra cash for emergencies.
@Val
What do you mean by exclusions? It’s pretty straightforward: lose your drone or crash it, and they pay out.
Edit: Actually, it’s $5 a month, which comes to $60 a year.
Ashwin said:
@Val
What do you mean by exclusions? It’s pretty straightforward: lose your drone or crash it, and they pay out.
Edit: Actually, it’s $5 a month, which comes to $60 a year.
There’s always fine print. For example, the State Farm policy has guidelines you need to follow, and if they think you broke any FAA rules, they won’t pay. They’ve also been known to not renew people, so you might only get one claim.
To me, it’s not worth the hassle. If dealing with a claim takes even two hours, that’s not worth it compared to just buying a new drone.
@Val
I know a few people who have had no issues with State Farm claims. That’s how I heard about it. It’s just like any other personal asset policy, similar to covering a laptop or phone. Sounds like you’re trying to find reasons not to get it without any real evidence. Saying you’d rather pay $1000 out of pocket instead of spending a couple of hours on a claim doesn’t make sense.
Edit: I’ve had State Farm for years for home and auto, and they’ve always been reliable.