A Commercial Drone Insurance policy has two separate coverages:
Drone Liability Insurance:
- Coves bodily injury, property damage and legal defense.
- Is standard on all Drone Insurance Policies
- Typically offered in the amount of $500,000-$10,000,000
Drone Hull Insurance:
- Covers damage to the drone itself, or its payload.
- Is an optional coverage.
- Not offered by Verifly and other on-demand drone insurance apps.
An example of Drone Hull Insurance:
For a DJI Mavic Pro in the amount of $6,000 in Drone Hull Insurance Coverage
- $1,000 of the $6,000 is dedicated for the DJI Mavic Pro to replace the drone for any damage, theft, etc.
- $5,000 of the $6,000 is dedicated for the FLIR Dualists Pro R, a dual-sensor, HD thermal camera.
- In the event of a total loss or theft, the insurance policy would pay $6,000 to replace both the drone and it’s camera payload, less any deductibles.
Drone Hull Insurance Cost:
- Drone Hull Insurance is typically offered at rates between 8%-12%
- For example, if you wanted $10,000 in hull coverage, it would increase the cost of your policy bu $800-$1,200 depending on the underwriting stipulations, use of the drone, risks, etc.
- Drone Hull Insurance is only offered as an add on to a full annual Drone liability insurance policy.
At BWI, our Commercial Drone Insurance policies are backed by A+ rated, Aviation Insurance companies like Global Aerospace. Typical Drone Insurance policies include global coverage territory limits, which means your drone is covered for damage and theft, anywhere in the world.
Speak to one of our Drone Insurance Specialists today at 800.666.4359 or submit a quote request online.
BWI is the Nation’s Leader in Commercial Drone Insurance.