Drones are becoming increasingly popular gadgets in fields such as photography, marketing and real estate. Because drones are still relatively new, many people are unsure of the laws surrounding these devices. Here are a few questions to ask when deciding about drone insurance.
1. Are you operating personally or commercially?
When deciding whether to purchase drone insurance or not, a person must first decide if their use falls into the personal or commercial category. Personal use means that the primary use of the drone will be for individual purposes whether that be for photography, racing or pure enjoyment. Commercial use implies that the user is exchanging the use of their drone or results from their drone for a monetary payment. Anyone who uses a drone for their income will fall into the category of commercial use. Professional photographers, land surveyors and others will not be able to qualify for personal use.
2. What are the laws of your country?
After deciding whether the use will be for commercial or personal purposes, a person must then learn more about the laws regarding drones in their specific country. Each country has different laws regarding the use of these devices. Some countries have fairly lax regulation while others ban the practice altogether. The United States doesn’t require UAV insurance for either commercial or personal use. However, Canada does require this insurance for commercial use. On the other hand, it is not required for personal use.
3. What is the drone worth?
Once an individual understands the legal requirements for their drone insurance, it is time to determine which rate to purchase. As with any form of insurance, drones can be insured for higher rates. A good way to determine a proper insurance rate is by judging the value of the drone. The original price of the drone as well as the resale value should be considered. If a user determines that the drone is not worth very much, than he or she may not buy any insurance. A professional using an expensive drone for work and income will most likely purchase insurances to cover any potential damages.
4. What are the manufacturer’s warranties?
Every drone manufacturer should have some sort of warranty or guarantee on their products. Major developers such as DJI and Phantom will include these warranties in each sale and may even offer upgrades. The conditions of these warranties should also be taken into consideration when deciding about drone insurance. If the guarantees are sufficient, than drone insurance may not be needed. Drone insurance would be a good idea for those who don’t get a lot of coverage.
The drone industry is very new and people are getting comfortable with their operation and management. As some of these units can be quite costly, many people are opting to buy insurance coverage. These four questions should be asked by any user who is having trouble making their decision.