State Farm Insurance Premium increase

[E90RAW]

Only if we have it. You’re not penalized if it goes down in the water and you can’t retrieve it.

Wow that's terrific. You could theoretically send the damaged one into DJI and get repaired, coming out with two drones. The repairs are usually $100 max.

 

[allenface]

We had State farm for 23 yrs and our cars were getting older and premiums kept going up, with no tickets or accidents. My wife watches my dollar like hawk. I didn't want to change because of loyalty , she did and saved us a bunch of money. if other insurance carriers cover this type of insurance I'd shop around.

Like you, I was complacent. I mean...insurance. Who wants to deal with that? Then I started checking my State Farm policy, which I've had for years and realized I was paying ridiculous increases. Then it dawned on me that even though I was in the National Guard, maybe that would qualify me for USAA. It did and man what a difference. Even my State Farm agent said USAA is their biggest threat. Great prices and more coverage and if you have them cover auto and home and umbrella, you get a pretty good rate with the bundle. Switched about 4 years ago and never looked back. And my umbrella covers my drone. That said, I also have a heady production policy which also covers my drone. Bottom line...it pays to shop around and don't fall into the trap of complacency.

 

[DanMan32]

Wow that's terrific. You could theoretically send the damaged one into DJI and get repaired, coming out with two drones. The repairs are usually $100 max.

No, repairs can be much more than that depending on model, especially if gimbal is involved.
When I backed over my M2, repair estimate was $270 with no damage to gimbal. Damage was broken arms and damaged but still air worthy body. Refresh was $170.

 

[Scoop]

Wow that's terrific. You could theoretically send the damaged one into DJI and get repaired, coming out with two drones. The repairs are usually $100 max.

That could be construed as insurance fraud, which is a criminal offense in most jurisdictions.

If you were wanting to do that, I'd ask your insurance company about it first.

 

[DanMan32]

Like you, I was complacent. I mean...insurance. Who wants to deal with that? Then I started checking my State Farm policy, which I've had for years and realized I was paying ridiculous increases. Then it dawned on me that even though I was in the National Guard, maybe that would qualify me for USAA. It did and man what a difference. Even my State Farm agent said USAA is their biggest threat. Great prices and more coverage and if you have them cover auto and home and umbrella, you get a pretty good rate with the bundle. Switched about 4 years ago and never looked back. And my umbrella covers my drone. That said, I also have a heady production policy which also covers my drone. Bottom line...it pays to shop around and don't fall into the trap of complacency.

Umbrella usually has a high deductible and geared towards liability. It's purpose is to supplement coverage when you hit the limit of other insurance so you don't lose your shirt and house.

 

[DanMan32]

Just took out a policy moments ago (SE Michigan).

It was $2.75 per $100 of coverage with a $60 minimum premium.

So up to a limit of $2,181.82, it will cost $60/year.

A $75/year premium would mean (in MI) you have a $2,727.28 limit of liability.

Not liability. It is personal property insurance. It won't cover you if you get sued for injury or damage to someone else's property.

It's not easy or cheap to get recreational drone flight liability insurance.

 

[allenface]

Umbrella usually has a high deductible and geared towards liability. It's purpose is to supplement coverage when you hit the limit of other insurance so you don't lose your shirt and house.

And your point would be?

 

[Waldo Pepper]

I just received a statement from State Farm Insurance about my Personal Articles Policy with an increase in my premium from $60 to $75 per year. I have had the policy for over 2 years without a claim. Has anyone had a similar experience? Is this standard?

I’m surprised it’s even that low, with the high risk of loosing or damaging these High tech drones insurance companies should charge a lot more and probably charge a 10-20% deductible.

Eventually they will, insurance companies haven't caught on yet these claims are going to cost them. Give it a year, insurance companies will eventually start canceling polices or raise rates and ask for high deductibles.

It’s coming, and I don’t blame them.

Paul

Paul

 

[Waldo Pepper]

Wow that's terrific. You could theoretically send the damaged one into DJI and get repaired, coming out with two drones. The repairs are usually $100 max.

Isn’t that fraud?