Compare commercial drone insurance | finder.com
Commercial drone insurance

Compare commercial drone insurance

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Protect your business and its airborne assets.

If you plan on using a drone for commercial purposes, you’ll want to make sure it’s covered. Drone insurance protects you not only from the costs of damage, but also if your drone causes damage to someone else’s property.

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Name Product Roadside assistance New car protection Available states
Included free
Yes, cars under 2 years old
All 50 states
Optional
Yes, cars under 1 year old & 15,000 miles
All 50 states
Included free
No
AZ, AR, DE, IL, IN, IA, KY, LA, MD, MI, MS, MT, NM, ND, OH, OK, OR, PA, TX, UT
Included free
Yes, cars under 1 year old & 15,000 miles
All states except AK, DE, HI, MT, NH, VT, WY
Optional
Yes, cars under 1 year old & 15,000 miles
AZ, CA, IL, NJ, OR, PA, VA, WA

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How does commercial drone insurance work?

Drone insurance coverage protects businesses in two keys ways: physical damage and third-party liability.

Physical damage coverage for drones

Damage coverage for your drone can protect you from a host of expenses if it’s damaged in an accident. Depending on your policy, expect coverage for:

  • Installed equipment
  • Control units
  • Gimbals [tooltip: A gimbal is a pivoting support for holding a compass or chronometer horizontal in moving aircraft.]
  • Onboard cameras
  • Hull damage
  • Theft

Third party drone liability

Your liability coverage protects your business and nonpilot and on-ground crew members. Third party liability is an important section of UAV insurance and protects you in the following scenarios:

  • Your drone crashes into a manned aircraft, causing injuries.
  • Your drone crashes into a building or vehicle and causes damage.
  • Your drone crashes into a group of people.

Additional drone coverage

Most UAS insurance policies are customizable, so you could find coverage for hijacking, terrorism and war, which would normally be excluded.

What kind of commercial drone coverage do I need?

The type of drone insurance you need depends on your business and how often you plan on using the drone for commercial purposes. Most policies are customizable, much like car insurance.

Annual policies vs. on-demand coverage

The biggest question is whether you need an annual policy for full-time use or an on-demand policy with an hourly rate. To figure out which option is right for you, get a quote for both. Divide the annual quote by the on-demand one to see how many times you’d have to use your drone to make the annual policy worth it.

Annual policy

  • Pay your premiums on a six- or 12-month schedule.
  • Policy covers you for the calendar year.
  • Ideal for companies using the drone on regularly.

On-demand coverage

  • Cheaper, usage-based plans with coverage from $10 an hour.
  • Policy covers you only when you need it.
  • Ideal for companies that don’t use drones regularly.

How much is commercial drone insurance?

According to Drones Buy, the level of liability coverage you want determines how much you’ll pay. Expect to pay between $750 and $2,000 for an annual policy.

Liability coverage maximum limitPrice per year per drone
$1 million$750
$2 million$1,000
$3 million$1,500
$5 million$2,000

What affects the cost of drone insurance?

How much your drone insurance costs depends on several variables, including:

  • How you plan on using your drone.
  • The type of drone.
  • Where you plan on flying the drone.
  • Level of coverage.

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How to buy commercial drone insurance

Once you’ve compared drone insurance and know the type of coverage you need, buying your policy online is quick and easy to set up.

  1. Complete the insurers quote form. Tell the insurer about the type of drone you have and how you plan on using it.
  2. Compare your quotes. Get a few quotes to make sure you’re getting the best value. You should not only compare coverage based on price, but also on the coverage features.
  3. Buy your policy. Once you’re happy with both the price and coverage, complete your application to sign up for the policy.

What’s not included with drone insurance

When you’re buying any financial product, the devil is in the details — and drone insurance is no different. Common exclusions include:

  • Acts of war.
  • Civil unrest.
  • Intentional damage.
  • Terrorism.
  • Government confiscation.
  • Hijacking.

Which industries can benefit from drone coverage?

UAVs are helping a range of companies improve the way they do business. Industries that have seen an uptick in the use of drones include:

  • Emergency services. Police use drones as an effective and relatively cheap aerial surveillance option.
  • Forestry. Unmanned drones can track survival counts and species regeneration.
  • Insurance. Claims assessors can use drones to quickly evaluate natural disaster areas.
  • Media. Drones offer journalists access to new photos and stories.
  • Mining. Exploration missions and aerial surveys are made easier with drones.
  • Real estate. Agents can use drones to provide potential buyers with visual tours of the house and surrounding neighborhood.
  • Telecommunications. Utility companies can find downed phone lines and inspect other infrastructure more quickly.

Bottom line

If you’re planning to use a drone in the day-to-day operations of your business, you’ll need commercial drone insurance. Protect yourself against the liability and damage costs and compare your options today.

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Frequently asked questions

Richard Laycock

Richard is the Insurance Editor at finder, and has been wrangling insurance Product Disclosure Statements for the last 4 years. When he’s not helping Aussies make sense of the fine print, he can be found testing the quality of Aperol Spritzes in his new found home of New York. Richard studied Journalism at Macquarie University and The Missouri School of Journalism, and has a Tier 1 certification in General Advice for Life Insurance. He has also been published in CSO Australia and Dynamic Business.

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