State Farm Drone Insurance

[Skyler King III]

I saw my State Farm insurance agent today at lunch and asked him about Drone insurance.
I told him I heard it was $60 and he knew about it as his brother has it .
He was going to check into for me . He said it did say it included liability and replacement.
I’ll keep you posted .

I had it. When I had a drone claim they EFT'd the money the very next day. Like any company, they will likely not renew if u have 2 claims in a year. Covers all losses/damage with no deductible. It's part of a personal articles p[olicy. I think u may have to have your home insured with State Farm I do.

 

[anotherlab]

I had it. When I had a drone claim they EFT'd the money the very next day. Like any company, they will likely not renew if u have 2 claims in a year. Covers all losses/damage with no deductible. It's part of a personal articles p[olicy. I think u may have to have your home insured with State Farm I do.

You do not have to have an existing home policy with State Farm to get the personal property plan. At least not in NY. When I had it, it was the only policy that I had with State Farm.

 

[CloFan]

I have this policy from state farm, but my house insurance is through them as well. I used it just the other day-- I had crashed and sent it off to DJI who quoted the repair at $99. I sent that quote to SF, and they paid the claim. I probably shouldn't have done it, in case I have to make another claim in the near future. At least the policy paid for itself.

 

[Steel63]

I had it. When I had a drone claim they EFT'd the money the very next day. Like any company, they will likely not renew if u have 2 claims in a year. Covers all losses/damage with no deductible. It's part of a personal articles p[olicy. I think u may have to have your home insured with State Farm I do.

No i have no coverage other than my drone through state farm. There awesome #go state farm

 

[In The Zone]

I saw my State Farm insurance agent today at lunch and asked him about Drone insurance.
I told him I heard it was $60 and he knew about it as his brother has it .
He was going to check into for me . He said it did say it included liability and replacement.
I’ll keep you posted .

I have State Farm replacement coverage for $75 a year. I just had to send them a copy of my original purchase invoice showing the dollar amount that I paid. They do not offer any liability insurance. If you're looking for reasonable liability insurance I use Skywatch

 

[Bob001]

This was hashed over in another thread about 2 months back. My experience with SF was great until I had three consecutive claims for non-collectable damage within 1 year (don't get into that unsafe driver business - these were no fault accidents on my part and prior to these I had zero moving violations or accidents). I get this call from an agent almost 6 months after the last one and she says SF is cancelling my insurance. I explained my history to her (she knew it because she processed the claims) but nothing she could do. Anyway that was 6 months ago and I still haven't had it cancelled (knock on wood). I think they might have looked into my history and the number of policies I have with them and changed their minds. The point being, they appear to be very claim sensitive and will cancel coverage which might include other coverage such as your house and car due to too many drone claims (with no warning) - just something to consider.

 

[vindibona1]

This was hashed over in another thread about 2 months back. My experience with SF was great until I had three consecutive claims for non-collectable damage within 1 year (don't get into that unsafe driver business - these were no fault accidents on my part and prior to these I had zero moving violations or accidents). I get this call from an agent almost 6 months after the last one and she says SF is cancelling my insurance. I explained my history to her (she knew it because she processed the claims) but nothing she could do. Anyway that was 6 months ago and I still haven't had it cancelled (knock on wood). I think they might have looked into my history and the number of policies I have with them and changed their minds. The point being, they appear to be very claim sensitive and will cancel coverage which might include other coverage such as your house and car due to too many drone claims (with no warning) - just something to consider.

You are so right. My daughter was canceled after the 2nd claim on her house, the 2nd being caused by improper repair. State Farm, I'm sure went after the contractor to recover one of the claim payments, but still it took very little to cause an outright cancelation.

 

[baddog]

I have state farm it was c$75.00 for the year but no liability but if you crash your drone or it drops in the ocean it's covered you do not need the drone to file a claim also if it's stolen its coverd they give you a check for the perches price you can even cover accessory s if you bought them when you bought your drone

What if drone is registered as commercial. I heard SF does not insure Commercial Pilots/Part 107

 

[CloFan]

SF will not touch it if you say it is for commercial use. But they don't check up on anything, or even track serial numbers.

 

[adcimagery]

This was hashed over in another thread about 2 months back. My experience with SF was great until I had three consecutive claims for non-collectable damage within 1 year (don't get into that unsafe driver business - these were no fault accidents on my part and prior to these I had zero moving violations or accidents). I get this call from an agent almost 6 months after the last one and she says SF is cancelling my insurance. I explained my history to her (she knew it because she processed the claims) but nothing she could do. Anyway that was 6 months ago and I still haven't had it cancelled (knock on wood). I think they might have looked into my history and the number of policies I have with them and changed their minds. The point being, they appear to be very claim sensitive and will cancel coverage which might include other coverage such as your house and car due to too many drone claims (with no warning) - just something to consider.

Unfortunately to the underwriters, a substantial number of claims shows you're statistically risky to insure, even if they aren't your fault (instead it's the area you live, where you work, or the hobbies you have, for instance).

 

[pchief520]

I saw my State Farm insurance agent today at lunch and asked him about Drone insurance.
I told him I heard it was $60 and he knew about it as his brother has it .
He was going to check into for me . He said it did say it included liability and replacement.
I’ll keep you posted .

I have the policy too!! I originally had a Mavic pro that was covered luckily, in July 2020 I had a accident where it went into the ocean. I was able to retrieve it but it was to much damage to fix. I called my agent he told me how to put in a claim, two weeks later I had my replacement money deposited into my account. I went with the MA2 fly more combo.? to StateFarm!! With out that policyI wouldn’t be flying today!!

 

[Order66]

I've found their personal property coverage to be quite good. You just HAVE to stay away from the words 'for hire' or 'commercial.' I had a drone go down (flying for fun, of course) and they paid me for the repairs inside of 48 hours directly into my bank account. For NON-COMMERCIAL flying, they're about the best game in town.

 

[Heretik]

Here are some facts.

Great points of fact.

Insurance companies are not about protecting you they are about making profits.

Im of the impression that, with one exception, no "major" insurance company had ever failed? Until 2008. That exception lost trillions of $$ in the collapse of the largest gambling casino (Derivatives), and that company was AIG; which has since recovered thanks to the generous Amerikan taxpayer bailouts.

Looking into Drone Insurance myself. As a hobbyist for loss of property and liability.

 

[Maviac]

Great points of fact.

Im of the impression that, with one exception, no "major" insurance company had ever failed? Until 2008. That exception lost trillions of $$ in the collapse of the largest gambling casino (Derivatives), and that company was AIG; which has since recovered thanks to the generous Amerikan taxpayer bailouts.

Looking into Drone Insurance myself. As a hobbyist for loss of property and liability.

That is definitely untrue. Many major insurers have gone under over the years (mostly big commercial insurers much bigger than consumer companies like SF, etc). But to your point, it’s very unlikely SF is going to have problems. The consumer market is much safer. I’m not a fan of them (though I’ve made pretty good money suing them on behalf of clients when they’ve denied valid claims - got a verdict well over $1 million a few years ago after they denied coverage to a family whose son was killed by a drunk driver insured by State Farm) but now that my DJI Care+ is about to expire I may buy a policy from them.

 

[Dbez1]

It’s just my (very uneducated) opinion that SF will not be in the drone insurance business indefinitely. The chance of loss or significant damage is just too great. Just read the number of crashes, fly-always, and loss in water that we read about on this forum. That said, I am insured by SF and will continue as long as it’s offered. I believe it’s a much better deal than that offered by DJI.

 

[vindibona1]

It’s just my (very uneducated) opinion that SF will not be in the drone insurance business indefinitely. The chance of loss or significant damage is just too great. Just read the number of crashes, fly-always, and loss in water that we read about on this forum. That said, I am insured by SF and will continue as long as it’s offered. I believe it’s a much better deal than that offered by DJI.

Insurance companies play a numbers game. They have actuaries that find a balance between volume of customers, premium rates and payouts. The rate of claims is only one aspect of the business. If the profit result isn't desirable they have a number of options, the first being to raise the premium rates. The second might be different bundling options to encourage participation in more lucrative areas such as home and car insurance. State Farm has been in the business for a very long time, and one must assume they didn't go into this coverage blindly. Could they discontinue it after finding it unprofitable? Sure. But It would seem that unless the loss is a blowout they would try other options first.

When I got my Mavic 2 Pro, I did subscribe to the DJI care program, but noted that if it was unrecoverable I'd be out the cost of the drone plus the cost of the DJI insurance. When I contacted my State Farm Agent I was surprised that my entire Mavic 2 Pro Fly More combo, not just the drone was covered for $60/year! Perhaps the low rate is because I do have my home covered with State Farm already. I recently added my Mini 2 and was told that it would be $20/year more. However it has to be understood that the coverage is only good for recreational flying. Loss during commercial application would not be covered. But I would assume most flights for most of us are recreational in nature. I think I paid $129 for the DJI insurance for my Mavic 2 and $39 for my original Mini, which is now worthless as I sold it to buy the Mini 2.

Note for those who might be interested in State Farm Drone Insurance: If someone is considering purchasing State Farm drone insurance, be aware that State Farm's underwriting is taking SEVERAL WEEKS to review and issue policies. I think it took 5 weeks to get confirmation of my Mavic 2's coverage, even as an existing customer with homeowners insurance. But when adding the Mini 2 to the policy it only took a week or so to add it. I'm not sure what the time frame is to have binding coverage if an existing customer, before a declarations page and formal policy is issued.

 

[Dbez1]

Thanks for your insight. There are probably many here that will benefit from your information. ?

 

[elborak]

Note for those who might be interested in State Farm Drone Insurance: If someone is considering purchasing State Farm drone insurance, be aware that State Farm's underwriting is taking SEVERAL WEEKS to review and issue policies. I think it took 5 weeks to get confirmation of my Mavic 2's coverage, even as an existing customer with homeowners insurance. But when adding the Mini 2 to the policy it only took a week or so to add it. I'm not sure what the time frame is to have binding coverage if an existing customer, before a declarations page and formal policy is issued.

It took 3-4 weeks for my SF policy for my MA2 to be issued. I was assured by the local office, however, that I would still be covered during that time, even though the approval was still pending.

 

[vindibona1]

It took 3-4 weeks for my SF policy for my MA2 to be issued. I was assured by the local office, however, that I would still be covered during that time, even though the approval was still pending.

I was told the same thing... but to some extent I'm skeptical taking that at face value when they haven't officially accepted the policy. I've known State Farm to reject other claims that should have been paid, which is part of the reason, after 54 years with them I don't have my car policy with them any longer. I paid the $60 premium up front for the Mavic 2, so I had a bit more confidence in having bound coverage. I haven't yet been billed any additional $ for the Mini 2 that I added on last week. I got the written declaration today which was much faster than the initial rider.

 

[Maviac]

Note for those who might be interested in State Farm Drone Insurance: If someone is considering purchasing State Farm drone insurance, be aware that State Farm's underwriting is taking SEVERAL WEEKS to review and issue policies. .

I’m going to say you should find a different agent. My local agent said he could cover me and send a binder that would cover me the day I called. This was a few weeks ago.