Many trades are using drones as a tool for business growth and service. Drones are often referred to as unmanned aerial vehicles (UAVs) as well as remotely piloted aerial systems. These drones are used for military defense, firefighting, photography and imaging, surveillance, communication, agriculture, and delivery of food, medicine, and other purposes. In recent years, commercial interest in the use of drones is increasing.
Although there are so many benefits that drones can provide to the business and non-profit communities, the risks are undeniable. The insurance industry has outlined coverage for the main exposures that include:
• Physical damage
• Overall responsibility
• commercial aviation general liability
• non-own aviation liability
Some of the main risks involved in the use of drones include the following:
• A drone accident or collision with a human-operated aircraft in the air
• Damage resulting from a collision with foreign objects, such as flying birds, trees, power poles, taller buildings
• When a drone loses control as a result of a system malfunction, flies out of signal range, or flies in a place without communication
• Malicious acts targeting critical infrastructure and causing related loss and damage
• Cyber attacks, including phishing or hacking, use radio signals to bring the drone down or take control of the hacker or to steal data.
• Interruption of battery power
• Infringement of privacy, trespassing and nuisance as established by the Federal Aviation Administration on behalf of the public
• When piloting and operating skills are not up to par for safety and efficiency
Protective drone insurance coverage is now available for the following industries listed below:
• Agriculture, Agriculture
• Construction, Renovations
• General Contractors
• Hospitality (hotels, motels, inns, etc.)
• Private Detectives
• Home inspectors
• Manufacturers of Drones and Associated Products
• Photographers
• Real estate
• Schools and Colleges
• Parties and Special Events
• Drone educators and training providers, flight schools, universities, colleges
• Suppliers and distributors of drones
• Drone service and repair centers
The insurance assessment is usually based on a number of variables, such as:
• Value of the drone, as well as the equipment that accompanies it
• Distance and flight capabilities
• drone flight airspace
• Storage site
• Type of load
• Drone features
• Specified design of operations
For more information on commercial drone insurance, contact an experienced independent agent. Through his vast network of insurers, he or she will be able to identify individual exposure and customize a comprehensive business plan that will protect you and your business from related perils and perils, at competitively lower rates.