Worrying about Drone Insurance Costs? Relax! We have detailed guide to choose right one for you. Drones have become an essential tool for hobbyists, businesses, and professionals across the United States. Whether you’re a photographer capturing stunning aerial shots or a company using drones for inspection, one question always comes up: “How much does drone insurance cost?” In this post, we’ll discuss about the average cost of drone insurance per month in the USA, the types of coverage available, and why it’s important for both recreational and commercial drone pilots.
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Drone Insurance Costs: Considering Factors
The average cost of drone insurance in the U.S. varies based on several factors like the type of drone, its usage, and the level of coverage needed. Typically, drone insurance policies range from $30 to $150 per month for standard coverage. However, specialized or commercial insurance could cost much more.
- Hobbyists and Recreational Flyers: For personal or recreational drone use, insurance typically falls between $30 and $50 per month. This is often general liability coverage, which protects you if your drone accidentally causes damage or injury.
- Commercial Drone Pilots: For professionals using drones under the FAA’s Part 107 certification, insurance premiums are higher, ranging from $50 to $150 per month. This includes liability insurance, which protects your business if your drone causes property damage or personal injury during a job.
- Factors Impacting Insurance Costs:
- Type of Drone: More expensive and complex drones typically cost more to insure.
- Use Case: Drones used for photography or videography tend to have lower premiums compared to those used for industrial or inspection purposes.
- Experience and Certification: Pilots with more experience and Part 107 certification often get better rates as they’re viewed as lower risk.
What is General Liability Insurance for Drones?
General liability insurance is one of the most common types of drone insurance, providing coverage for damage or injury caused by your drone. This insurance doesn’t cover damage to your drone itself but protects you if someone sues you because your drone damaged property or caused personal injury.
For example, if you’re flying your drone and accidentally hit a car or a person, general liability insurance would cover the associated costs, up to your policy limits. Most policies for hobbyists cover up to $1 million in liability, while commercial policies often provide higher limits, depending on the level of risk.
Part 107 Drone Insurance
Part 107 is the FAA’s rule for commercial drone use, requiring drone pilots to be certified for commercial flights. If you fly drones for any type of commercial purpose (whether it’s real estate photography, surveying, or inspections), you’ll need insurance specifically designed for commercial operations under Part 107.
Part 107 drone insurance typically includes:
- Liability Coverage: Protects against damage to third parties or property.
- Hull Coverage: Covers the cost to repair or replace your drone if it’s damaged during commercial operations.
- Professional Liability: Covers lawsuits related to errors or mistakes in professional drone services.
Best Drone Insurance Companies in the U.S
If you’re looking for the best drone insurance companies in the U.S., here are a few highly recommended options along with their typical costs:
- SkyWatch.AI:
- Monthly Cost: $42 to $150 for commercial use, depending on coverage.
- Coverage: Liability and hull insurance for both recreational and commercial drone pilots. SkyWatch.AI offers on-demand coverage, making it easy to get hourly, daily, or monthly policies.
- Verifly:
- Monthly Cost: Typically $10 to $60 per flight or operation.
- Coverage: Verifly offers hourly drone insurance, ideal for hobbyists or professionals who don’t need long-term coverage. Their pay-as-you-go model allows you to get insured only when you need it.
- Global Aerospace:
- Monthly Cost: Around $100 to $150 for commercial drone use.
- Coverage: Known for their comprehensive coverage options for both small businesses and larger operations. Global Aerospace is a popular choice for professional drone pilots.
FAQs About Drone Insurance
How much does drone insurance cost?
Drone insurance in the U.S. typically costs between $30 and $150 per month. The actual cost depends on the type of drone, the pilot’s experience, and the level of coverage. Recreational pilots can expect to pay on the lower end, while commercial operators may pay more based on their specific needs.
Do all drones need insurance?
No, not all drones need insurance, but it’s highly recommended, especially for commercial use. Hobbyists are not required by law to have insurance, but without it, you are liable for any damage or injury your drone causes.
Does the FAA require drone insurance?
The FAA does not require drone insurance for recreational or commercial pilots. However, many clients or job sites may require proof of insurance before allowing drones to operate on their property.
What is hourly drone insurance?
Hourly drone insurance is a flexible option for those who don’t fly their drone regularly. It allows you to purchase coverage only for the time you’ll be flying, which is perfect for hobbyists or commercial pilots who don’t want to commit to a monthly or yearly policy. Companies like Verifly offer hourly drone insurance.
What is the cost of commercial drone insurance?
Commercial drone insurance typically costs between $50 to $150 per month, depending on the type of coverage, the drone, and the pilot’s experience. This type of insurance is essential for businesses that rely on drones for commercial operations like real estate, inspections, and filmmaking.
Wrap up wordings
Drone insurance is an important investment for anyone flying a drone in the U.S., whether for fun or for business. While recreational pilots may find lower-cost coverage, commercial drone operators should expect to pay more for comprehensive insurance.
The exact cost will depend on the type of drone, how it’s used, and the level of coverage you need. By understanding the different options and choosing the right policy for your needs, you can fly your drone with peace of mind, knowing you’re protected.
