State Farm Mavic Insurance

[hiwese1]

I have read a lot about different insurance options and elected to buy the Asurion plan because for 2 years for 149 because it would repair or replace the drone with no deductible and thought that was better then the DJI refresh at $99 plus 79 dollars for first and more for the second.

The only concern with the above 2 was the fact that it didn't cover against fly aways or if it decided to go swimming in the water and not come up. I so happened to talk to a fellow Mavic owner near me yesterday and he said he bought a State Farm Policy for $30 dollars a year and it covers the full value against theft, accidents, losing it you name it. I called Asurion and cancelled that through Amazon really easily and called State Farm today and the first agent was clueless and didn't know anything. I called another one and they quickly took my information, I paid the 30 dollars and now I am covered. They emailed me the policy and it was super quick and easy. Side note, I have no policies with State Farm and I am in Virginia.

The key words you want to say are a Personal Articles Application for a drone. The lady I used is Shannon Jordan at 757.480.0033 if you have any questions.

 

[Silouan]

Thanks for the info. I just shot off an email to my Farmer's agent to see if they have something similar. I'll give this a shot otherwise.

 

[dsd317]

I'm curious to know if anyone has ever filed a claim with these insurance companies. Did they really cover what they said they'd cover? Reason I ask is because it sounds too good to be true.

 

[laura schlenker]

Mine cost me 60$ a year through state farm. But my agent told me a kid lost his in a canyon and they took care of him quickly without issues. So I hope that's the case.

 

[flatlandor]

This seems like a no-brainer.

 

[erkme73]

I just copied the OP's text and sent it to my insurance broker. She's been researching this on my behalf for the last few days. I asked her to find out if my current insurer(s) would extend drone coverage. She said no, but would look at other underwriters to see if I should switch. The idea that I could buy a separate police for JUST the MP from an unrelated company didn't even cross my (and probably her) mind. I bought the refresh, but if SF is able to sell me a similar policy in FL, I'll ask for a refund.

 

[dsd317]

The idea that I could buy a separate police

Are you trying to bribe the police?

 

[erkme73]

If it weren't illegal, yes. Freudian slip...

 

[Nomand Eloc]

I use SF personal article coverage for my DSLR gear and found them to be great in the event that some careless person dropped a camera. Full replacement no deductible. Best of all it was not pro-rated so they payed for a new model camera that had the same value. 5Dmkii to 5Dmkiii.

 

[OCsurfer411]

Be interesting to see if my homeowners policy already covers me on this.


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[erkme73]

Be interesting to see if my homeowners policy already covers me on this.


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Just guessing, but you probably want to keep that separate from your homeowners policy. If you have a claim that may increase your primary policy premium or get you booted.

 

[generaltso]

Just guessing, but you probably want to keep that separate from your homeowners policy. If you have a claim that may increase your primary policy premium or get you booted.

They all share the same claims database, so that can happen anyway. Not worth the risk for a $750 drone in my opinion. I'd rather just go with something like Asurion.

 

[Air Jordan]

Has anyone successfully got coverage from State Farm in California? Everywhere I've read they exclude us for some reason?


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[nil]

Has anyone successfully got coverage from State Farm in California? Everywhere I've read they exclude us for some reason?


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I would like to know this too.

 

[rongumba]

Why anyone would get insurance from State Farm is incomprehensible.
Standard industry payout ratio is 70% for claims
State Farm brags in their annual reports that their payout rates are below 60% now.
This means that when you have a claim, you will receive less.

 

[erkme73]

They all share the same claims database, so that can happen anyway. Not worth the risk for a $750 drone in my opinion. I'd rather just go with something like Asurion.

^^^THIS^^^. I finally got the details from my broker on how State Farm (or any other home/auto insurance company) insures items like drones. Just as with jewelry or other expensive personal items, they're covered under a Personal Articles Floater (PAF). While the premium may be trivial (often less than $100/yr per item) and the deductible low or nothing at all, filing a claim for a PAF loss has the same affect on your insurability score as an auto accident, or homeowner claim.

Most insurers use reporting agencies like ChoicePoint (the equivalent to Equifax for a credit ratings) to tabulate insurance risk. Any claim by a participating underwriter will end up as a strike against your score - which may result in higher premiums for auto and homeowner policies.

My broker recalled an incident where one of her clients was not renewed on her homeowner policy after filing a PAF loss claim. Another saw a substantial increase to their homeowner premium.

Ultimately, there is no free lunch. I was fully convinced to lobby for a refund on my Refresh premium, in favor of a State Farm policy. On the surface, there was no comparison. But, while the Refresh (or other third-party insurance plans like Asurion) may be more expensive upfront (and carry deductibles), they do NOT impact your insurance score if you file a claim.

 

[generaltso]

But, while the Refresh (or other third-party insurance plans like Asurion) may be more expensive upfront (and carry deductibles), they do NOT impact your insurance score if you file a claim.

Thank you. I've been saying this for weeks, but I don't think most people are really grasping the potential impact of a claim with a conventional insurance company. You may not have a choice if you suffer a loss worth many thousands of dollars, but for a $750 drone? No way!

 

[Bobaloo]

Thank you. I've been saying this for weeks, but I don't think most people are really grasping the potential impact of a claim with a conventional insurance company. You may not have a choice if you suffer a loss worth many thousands of dollars, but for a $750 drone? No way!

You are totally correct.

 

[Bobaloo]

I'm curious to know if anyone has ever filed a claim with these insurance companies. Did they really cover what they said they'd cover? Reason I ask is because it sounds too good to be true.

It is too good to be true.

 

[longrange]

Called my State Farm agent today just to see what they would say. She had no idea if they even offer drone insurance. She is looking into it and will get back to me.


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