Mavic Pro Insurance!

[erkme73]

How can you possibly be surprised that people would insure a vehicle...car, aircraft, unmanned, etc.? Crashing your UAV and being out ~$1000 would negatively affect your future flying

Because 'saving' $1000 by filing a claim means your insurers for auto & home have a reason to rase your rates and collect that loss through higher premiums. Filing a claim is equivalent to having an auto accident. If you've been with your insurer for a while, it probably won't affect your rates. But if you shop for lowest rates at renewal, you likely will no longer qualify for the best rates. The way I see it (especially with how I shop at every renewal), you can pay for the $1000 loss out of pocket now, or you can file a claim, and pay for it (and probably more) later through higher premiums.

 

[SoapyGolem]

So basically insurance is a scam.. and don't get...

 

[erkme73]

So basically insurance is a scam.. and don't get...

No, not at all. SF has a very attractive policy that works well for the right conditions. If you are happy with your home and auto insurer, and you do not shop around every year, then you will likely not be affected. You existing long-term insurer has proven history with you as a customer. However, if you file a claim, and then try to get insurance with a new company, they will have no such history. They will have to rely heavily on your LexisNexis profile - and that's where you'll likely get dinged.

 

[SRJ_Mavic_PRO]

Ummmm... If only your accuracy matched your confidence. This is direct quoted email from an SF agent..

A personal articles policy (PAP) policy is considered a “fire” policy. Under the fire category is home, PAP, and inland marine policies. If there is a claim on any of these policies, it is recorded in Lexus Nexus and does affect your future rating if you intend to get any of those policies started as new business.

With State Farm (I can’t speak for other companies) if you do a PAP claim during a time where you have an existing home policy, it will not affect your rate. As I mentioned before, however, if you start a new home policy, it does have the potential to affect that..

Any claim on any property policy could be considered during underwriting for rating purposes by any carrier, so it’s no different than having an auto claim and then shopping your auto policy after.​

LexisNexis is a risk rating bureau, much like Equifax or Transperian handle credit ratings. To say that filing a claim against a SF issued policy won't affect your risk rating with another company would be like saying if you default on your Amex, your credit rating won't suffer for Visa or Mastercard.

Each person's LexisNexis is accessed regularly by much more than the insurer you currently have. Having losses recorded in that database can be significant - especially if you regularly shop for new insurance to obtain the lowest rates.

Just left the SF office and I asked about a claim effecting my other policy with my insurance company and they said as long as I wasn't changing anything then would not effect either my auto or renters. Since I have been with USAA since 1982 I don't see my policies changing. So $60 later I have both P4P and Mavic insured for full valve for any issue including fly away or crashes.

 

[erkme73]

Just left the SF office and I asked about a claim effecting my other policy with my insurance company and they said as long as I wasn't changing anything then would not effect either my auto or renters. Since I have been with USAA since 1982 I don't see my policies changing. So $60 later I have both P4P and Mavic insured for full valve for any issue including fly away or crashes.

But can you appreciate that not everyone follows the same insurance practice you do? Insurance brokers are paid to shop various underwriters to get the best rate on a fairly regular basis. Each year, when I get my renewal, I call my agent and ask her if this is the best one. Sometimes it is, sometimes it's not. I like that flexibility, which I would lose if I were to file a claim on the $60 premium.

For you it's great, and I'm happy you're able to benefit. But when you say that filing a claim won't affect you if you don't have any other SF policies, that is simply not accurate. It has very significant implications for many (if not most) people - those who regularly shop insurance products.

 

[SRJ_Mavic_PRO]

But can you appreciate that not everyone follows the same insurance practice you do? Insurance brokers are paid to shop various underwriters to get the best rate on a fairly regular basis. Each year, when I get my renewal, I call my agent and ask her if this is the best one. Sometimes it is, sometimes it's not. I like that flexibility, which I would lose if I were to file a claim on the $60 premium.

For you it's great, and I'm happy you're able to benefit. But when you say that filing a claim won't affect you if you don't have any other SF policies, that is simply not accurate. It has very significant implications for many (if not most) people - those who regularly shop insurance products.

Nope I can't

 

[erkme73]

Nope I can't

Well, in that case, go ahead and keep posting wrong info. I'll correct you as I see it.

 

[Foxtrot Uniform]

Well, in that case, go ahead and keep posting wrong info. I'll correct you as I see it.

3 in a row! take it easy erkme. Who are you even talking to?

 

[SRJ_Mavic_PRO]

Interested to insure in MD as well! Please let us know the details

MD I'll fill you in later, taking advantage of no wind and going to fly at Sandy Point.

 

[Strafe1]

But can you appreciate that not everyone follows the same insurance practice you do? Insurance brokers are paid to shop various underwriters to get the best rate on a fairly regular basis. Each year, when I get my renewal, I call my agent and ask her if this is the best one. Sometimes it is, sometimes it's not. I like that flexibility, which I would lose if I were to file a claim on the $60 premium.

For you it's great, and I'm happy you're able to benefit. But when you say that filing a claim won't affect you if you don't have any other SF policies, that is simply not accurate. It has very significant implications for many (if not most) people - those who regularly shop insurance products.

I would be curious to know how much of a hit it would actually be. When I replaced an expensive windshield on my car using my auto insurance, I didn't notice an impact when shopping for insurance 8-12 mos. later. If the claim is only 1k or so, maybe not so much impact.

 

[Wombat55]

I think that if I were an insurance agent, I would be a little bit apprehensive after reading all of the enthusiastic posts about getting cheap drone insurance on this site. Would make me wonder whether I've really calculated correctly the proper risks and financial returns of issuing drone insurance.

 

[Mjonesy758]

So to all you guys who have State Farm for the drones. Do you also carry DJI refresh too. My thinking is if I get State Farm and no refresh and something happens to the drone it will be paid for, if they decide to cancel my policy after they write me a check I will get refresh on the sec one. Because if I had any problems in a year I could potentially pay up to 300 bucks with DJI. Is my thinking wrong?

 

[JJM]

I think that if I were an insurance agent, I would be a little bit apprehensive after reading all of the enthusiastic posts about getting cheap drone insurance on this site. Would make me wonder whether I've really calculated correctly the proper risks and financial returns of issuing drone insurance.

Some people pay the same amount to fully cover their car that's worth at least 20 times the cost of a mavic. Should insurance agents raise that cost too?

 

[Wombat55]

Some people pay the same amount to fully cover their car that's worth at least 20 times the cost of a mavic. Should insurance agents raise that cost too?

Some people pay about $60 per year to insure their $20K car with full liability coverage? I need to switch insurance companies. What insurance company do I go to in order to get that deal on car insurance?

 

[JJM]

Some people pay about $60 per year to insure their $20K car with full liability coverage? I need to switch insurance companies. What insurance company do I go to in order to get that deal on car insurance?

Find a broker who can get you a good deal. My sister pays $80/month for her Audi S5 (which cost a little more than $20k) through Allstate.

 

[Wombat55]

Find a broker who can get you a good deal. My sister pays $80/month for her Audi S5 (which cost a little more than $20k) through Allstate.

OK, but $80/month (or $960 per year) is not approximately equal to $60 per year drone insurance.

 

[andy966]

I am wondering if renter's insurance covers this as well? Similar premise. I live in CA so I don't think State Farm will cover me.

 

[JJM]

OK, but $80/month (or $960 per year) is not approximately equal to $60 per year drone insurance.

Ok, so charging 1.6% of the value of an item/year is more economically viable to you than 6%?

 

[HFMan]

You aren't getting liability on the Mavic for that $60. If State Farm were even inclined to provide liability coverage, I'm sure the premium would be significant.

 

[SRJ_Mavic_PRO]

The policy I just got today is only for the value of the Mavic & P4P... Full replacement based on the receipts I provided today for each. Covers loss, damage, thief, etc... $60 per year no deductible...