State Farm Insurance Claim
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kodiak1120
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I actually just got off the phone with State Farm. Had a personal articles policy on my Mavic since about October. I was flying Saturday and got stung by a hornet or a wasp on my right hand, which caused me to crash. I called the claim into my local agent yesterday and was transferred to State Farm to file the claim. Gave very basic info (i.e., I crashed). Got a call this morning asking a few more questions (can it be repaired, etc.), and rep. confirmed that it would be covered 100%. They are mailing me a check for $1013 today.
My only question is whether this will impact my ability to get a policy on my new drone. It sucks because before my Mavic I had a TBS Discovery and ZMR 250 for a combined total of more than four years and never crashed either of them. State Farm probably thinks I'm some newbie rookie that doesn't know how to fly.
My only question is whether this will impact my ability to get a policy on my new drone. It sucks because before my Mavic I had a TBS Discovery and ZMR 250 for a combined total of more than four years and never crashed either of them. State Farm probably thinks I'm some newbie rookie that doesn't know how to fly.
dieselwind
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Glad to hear the claim process was easy. Please update if you renew your policy
I had nearly the same experience (minus the wasp sting). Crashed my P3P on a Monday. It was a mess but potentially repairable (not really sure, just a guess). Anyway, I called State Farm on Wednesday and filed a claim against my Personal Articles Policy. An adjuster called me back 10 minutes later and asked if it was repairable. I said I wasn't sure but that it was damaged badly. He said, "no sweat, I'll send you a $1000 check".
Got on Amazon that instant and ordered a Mavic. It showed up on the Friday and my $1000 claim check showed up on Saturday.
I called my SF agent on the next Monday and asked about getting the Mavic added to the policy. No problem at all. Done. Easy as can be. Nearly a free upgrade to a Mavic. I'll take it.
Glad to hear that SF seems to be easy to make a claim. Hopefully I will never need to make a claim but it's nice to know that the experience shouldn't be too bad. Thanks for all the answers to my question.
Happy flying. Be safe.
Happy flying. Be safe.
Mavic_Pete
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But what about the old drone, can you still fix and fly it? Will SF care that you will fix and play with The drone you used to file claim? Does that matter to them?
I'm trying to sell pieces and parts now. I've had two deals fall through from phantompilots.com. I have no idea if SF cares or not. They didn't say anything and it didn't occur to me to ask when the claim was settled. In my book that means it's mine to do with as I please.
I have not however I am about to insure my Mavic through my State Farm agent also. Was it easy to do for you to do and may I ask what they charged you?
If the policy is a one off for SF (or any insurer) you're much more likely to get dropped. You're an irrelevant customer to them and it's going to be years for them to recover their loss. I really don't understand the micro economics of an insurer insuring a $1k+ item for a ~$60 premium if that's the only policy for that customer.
I'm a SF customer of 30+ years with a home, umbrella, life x 2 and cars x 3 policies plus my drone PA. I've had very few claims over the years and they have every incentive to keep reaching into my wallet. Dropping my drone PA policy after a claim doesn't help that cause, so it's much easier for them to just keep insuring it for me.
For future reference, you also have the option to buy just the Mavic for $750 and continue using your existing controller.
I just took out a State Farm policy on my Mavic this morning. The premium was $30 a year for $1,000 coverage.
Mikel-PNW
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It was because i was only insured a VERY short time before i had to make a claim.. I paid $34 for a year/coverage, I totally understand why.
So just in this thread alone three claims have been filed for a total payout of roughly $3000. That means State Farm needed to have 50 drone PAP policies at $60 a piece just to cover it. At an industry loss ratio limit of around 50% they need 100 customers with drone PAP policies who never crash during the one year policy period to make the business model barely viable
If the average drone PAP policy cost was $30 instead of $60 then they would need 200 crash (claim) free drone PAP policies per premium period just for the 3 claims mentioned in this thread. I think $60 is the max you pay but many customers pay less, as they often include other far less risky items on the same policy. You get the idea. This drone specific PAP policy thing has to make economic sense or State Farm drops drone PAP coverage like a hot potato (all remaining existing policies get cancelled and that's that). No free lunch. Let's hope for the best.....
If the average drone PAP policy cost was $30 instead of $60 then they would need 200 crash (claim) free drone PAP policies per premium period just for the 3 claims mentioned in this thread. I think $60 is the max you pay but many customers pay less, as they often include other far less risky items on the same policy. You get the idea. This drone specific PAP policy thing has to make economic sense or State Farm drops drone PAP coverage like a hot potato (all remaining existing policies get cancelled and that's that). No free lunch. Let's hope for the best.....
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All true. I develop software for three mid-sized and a slew of small/niche insurance outfits (nothing even close to SF size). But, they all slice and dice data in near realtime and can easily monitor something as narrow as "what's our financial performance of PA policies & drones". You'd better believe they'll kill things the second that performance crosses a threshold. Note that the threshold will almost certainly be much harsher for "one off" customers with no history at the company. There will be a lot more flexibility for long-term, multiple policy customers. One of the reasons why shopping individual policies around to multiple insurers makes no sense.
Also fully insured by State Farm, 3 cars, house and mavic. Wondering if they cancelled all your policies or just the mavic policy. I paid 60 for a years coverage a couple of months ago.
naeemr86
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I have insurance from state farms in nj and had couple of questions. When claiming from state farms about a drone damaged badly do they just take your damaged drone? Also Has anyone claimed from state farms if the drone is lost or stolen? For example if a drone goes down in lake or a place where you can't get it back. Thanks in advance
in my case - no. They simply asked if I thought it could be repaired. I said I wasn't sure and they said "cool, here's $1k for you". They never said anything about the disposition of the damaged drone and it didn't occur to me to ask right then.
Stolen - I don't think that's covered under a Personal Articles Policy. That would go under your homeowners/renters policy.
Lost (as in crashed and not recoverable) - That goes under your PAP and is covered. I don't believe my SF policy has any requirement that I be able to produce the damaged drone. YMMV.
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