Insurance

[Golfnut]

Checked with my insurance company in Canada. The Canadian government is talking about making drone insurance mandatory, specifically liability insurance. Anyway, liability is covered under my homeowners policy so if the drone causes property damage or personal injury to someone, I'm covered. To be safe, I'm getting all of this in writing, including the limits of liability.
As for insurance for the drone itself, I can get total coverage for loss, damage, theft etc for 4% of the value of the drone, so in the case of the Mavic, $40 US per year.
Worth a call to your insurance company before you spring for DJI insurance.

 

[dam]

Checked with my insurance company in Canada. The Canadian government is talking about making drone insurance mandatory, specifically liability insurance. Anyway, liability is covered under my homeowners policy so if the drone causes property damage or personal injury to someone, I'm covered. To be safe, I'm getting all of this in writing, including the limits of liability.
As for insurance for the drone itself, I can get total coverage for loss, damage, theft etc for 4% of the value of the drone, so in the case of the Mavic, $40 US per year.
Worth a call to your insurance company before you spring for DJI insurance.

And who is your insurance provider ?

 

[Golfnut]

Intact Insurance but your broker will have his/her preferred suppliers.

 

[Rom3oDelta7]

My provider (Chubb) agreed to include my Mavic under my scheduled policy for my camera equipment. With a scheduled (e.g. specifically itemized, with serial numbers and established values) policy, it is attached to your homeowner's policy but is independent of it. There is no deductible and claims do not affect your homeowners policy. This is the mechanism carriers use for jewelry and art collections. Check this out if it is available - there was only a small incremental cost on top of my previous blanket coverage.

 

[Derodeo]

Yeah, drone insurance would likely need a specific policy under your home owners insurance. Otherwise the deductible alone would make this impractical, not to mention the impact a claim might have on your homeowners premium come renewal.

 

[Rom3oDelta7]

Yeah, drone insurance would likely need a specific policy under your home owners insurance. Otherwise the deductible alone would make this impractical, not to mention the impact a claim might have on your homeowners premium come renewal.

Indeed. My homeowner's policy deductible is much more than the cost of the Mavic.

 

[Johanna]

Just got verification from my home insurer. Drones are covered under the standard policy (for camera/equipment) to a value of 3000.00 per item. Liability extends to cover drones as well. I am totally covered under my standard policy, no additional requirements.

 

[Grey Wolf]

Checked with my insurance company in Canada. The Canadian government is talking about making drone insurance mandatory, specifically liability insurance. Anyway, liability is covered under my homeowners policy so if the drone causes property damage or personal injury to someone, I'm covered. To be safe, I'm getting all of this in writing, including the limits of liability.
As for insurance for the drone itself, I can get total coverage for loss, damage, theft etc for 4% of the value of the drone, so in the case of the Mavic, $40 US per year.
Worth a call to your insurance company before you spring for DJI insurance.

Are you absolutely sure your homeowners policy covers the Mavic?
I tried everything and no insurance company other than aviation insurance would cover it for liability.
I'm paying $650.00 a year for the Transport Canada minimum $100,000 coverage.
As for insuring the drone, I had to get a program lease to buy with a video equipment financer, Meridian, in order to have it insured.
It's about $59.00 a month.
My video equipment insurer would not insure the drone.
Just make sure you are indeed covered.

 

[Johanna]

Are you absolutely sure your homeowners policy covers the Mavic?
I tried everything and no insurance company other than aviation insurance would cover it for liability.
I'm paying $650.00 a year for the Transport Canada minimum $100,000 coverage.
As for insuring the drone, I had to get a program lease to buy with a video equipment financer, Meridian, in order to have it insured.
It's about $59.00 a month.
My video equipment insurer would not insure the drone.
Just make sure you are indeed covered.

To clarify, this is for recreational use not commercial. Liability 1 M, 3,000 per item.