State Farm Mavic Insurance

[dronetxgirl]

I live in Texas and called State Farm and they told me I had to have homeowner's insurance with themin order to get the extra insurance for drone coverage.


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[lehidave]

I live in Utah. 60 a year through State Farm - no deductible - stand alone policy!

 

[AwesoM]

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.

I lost my P4 after 2 weeks in a canal. Just received my check from state farm yesterday.. about a week after my claim.

 

[AwesoM]

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.

your home insurance typically have a 500 deductible or higher. And yes it is covered. If you have ever made claim on your home insurance you will find that your home insurance will go up.
I have my insurance for cars and home with Liberty Mutual. I got SF for my drone and camera equipment.

 

[AwesoM]

It is too good to be true.

nope not too gd. I got my check yesterday after waiting a week.

 

[AwesoM]

^^^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.

I shared the same concern with the SF agent on the Personal Articles policy as well. She did not seem to agree with the same conclusion. However I am inclined to agree with you. I have both SF and DJI. You have insurance to cover a loss, else why have it? I did have a claim a week ago since my P4 fell in the canal and was lost. My agent said since this was the 1st claim it will be a non issue. Now if there are repeated claims I would likely look at a rate increase for the policy at renewal with a deductible or not renew altogether. So SF is if the drone is not recoverable and DJI if I have a drone to send back.

 

[erkme73]

I shared the same concern with the SF agent on the Personal Articles policy as well. She did not seem to agree with the same conclusion. However I am inclined to agree with you. I have both SF and DJI. You have insurance to cover a loss, else why have it? I did have a claim a week ago since my P4 fell in the canal and was lost. My agent said since this was the 1st claim it will be a non issue. Now if there are repeated claims I would likely look at a rate increase for the policy at renewal with a deductible or not renew altogether. So SF is if the drone is not recoverable and DJI if I have a drone to send back.

I followed up with an actual SF agent (one that issued several policies in Orlando to users on the DJI forums). I asked her for (and received) permission to post her comments. Here's her latest:

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.
​

So, if you're the kind of person that stays loyal to your home/auto insurer, and you have no intention of 'shopping' for best rates, then a loss claim on the MP would likely NOT affect your rates. However, if you change to a new insurer after having filed a claim, then it likely WILL affect your rates as the new insurer won't have the history and confidence in your risk profile.

Bottom line: There is no free lunch.

 

[AwesoM]

I followed up with an actual SF agent (one that issued several policies in Orlando to users on the DJI forums). I asked her for (and received) permission to post her comments. Here's her latest:

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.
​

So, if you're the kind of person that stays loyal to your home/auto insurer, and you have no intention of 'shopping' for best rates, then a loss claim on the MP would likely NOT affect your rates. However, if you change to a new insurer after having filed a claim, then it likely WILL affect your rates as the new insurer won't have the history and confidence in your risk profile.

Bottom line: There is no free lunch.

@erkme73 agree with you 100% on this point. I am one of those that seldom change insurance companies. average switch has been 1 time every 9 years.

 

[briand7878]

Good news for me in Indiana. I called my State Farm rep who said the lowest they go is $60.00 and its up to $3,000. He asked if there was anything else that I would like to throw on there so I am adding my dslr camera and lenses. my homeowners has a $500.00 deductible and does not cover me breaking my camera. This does so its a win win

 

[Boog0822]

I live in Texas and called State Farm and they told me I had to have homeowner's insurance with themin order to get the extra insurance for drone coverage.


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You should call them back or find another State Farm agent. Have them call their underwriters. I was just down at State Farm and they will insure drones under personal property just as they do with jewelry, collectibles or guns.

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[jamesgb]

Anyone get Sate Farm insurance without having any other coverage with them (like car or home)? I'm reaching out to the local rep in my area and she's trying to get me to sign up for home and car insurance as well. Just wanted to see if other were successful in just getting the personal property policy without anything else.

I'm in Washington state and I was able to get a policy for my drone and that is the only insurance I have with state farm.

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[erkme73]

nope not too gd. I got my check yesterday after waiting a week.

Good. Just make sure you don't shop for new auto/home insurance in the next year, else they'll make that money right back on higher rates. Your claim was entered into the LexisNexis insurance risk database (like Equifax, but for insurance). It likely won't affect your existing rates if you stay with whoever your current insurer (for home/auto) is. But if you change to a new company, you'll be an 'unknown' risk and they'll weigh that drone claim heavily - and you won't receive the best rates. So, in that sense, there is no free lunch.

 

[AwesoM]

Good. Just make sure you don't shop for new auto/home insurance in the next year, else they'll make that money right back on higher rates. Your claim was entered into the LexisNexis insurance risk database (like Equifax, but for insurance). It likely won't affect your existing rates if you stay with whoever your current insurer (for home/auto) is. But if you change to a new company, you'll be an 'unknown' risk and they'll weigh that drone claim heavily - and you won't receive the best rates. So, in that sense, there is no free lunch.

Yep. Not disagreeing with you one bit. Before I made the claim, state farm tried to quote my car insurance home etc.. they were almost 1500 higher a year total. So I'm not going anywhere
I also have DJI, if I was able to recover the drone I would not have gone to Sf to make the claim. SF is the last resort.

 

[BmrUpInTheSky]

Just got off the phone with my Georgia SF agent. At first they said they do not offer it, then I had to convince them to look into it further. Had me on hold while they called elsewhere. Came back saying its a go.

Questions they will ask.

Is this for personal use or business.
Is it under 55lbs.

They will then ask for.
Receipt/invoice
Picture of what all is being covered.

Since I already have some personal article policies they have to contact someone else to give me a new policy price. I'll update once I know how much the are charging just for the drone.

I already have DJI care so if I just destroy the Drone, I'll use that. If it flys away, SF it is.

 

[BmrUpInTheSky]

Just got off the phone with my state farm rep. He had to contact underwriting. He got back to me and said State Farm will insure it in every state in the US except for California.

Remember, you're asking for a personal articles policy, not drone insurance. Let's be civilized people.

I believe it is specially a drone policy since they ask drone questions.

 

[CaminDFW]

I live in Texas and called State Farm and they told me I had to have homeowner's insurance with themin order to get the extra insurance for drone coverage.


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That is incorrect and actually illegal - call another agent. I have an agent in the Dallas area.

 

[jointeffort]

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


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California sees drones as commercial aircraft, therefore you cannot apply it as a personal articles policy.


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[frankiez]

I believe it is specially a drone policy since they ask drone questions.

Not exactly. My SF agent said that it is a personal property policy and I can put guns, jewelry, etc under it along with my MP and it will all be covered under the $75/yr. policy

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[Eric]

Just called my State Farm guy. $36 a year in Vancouver, WA.

Also going to have umbrella coverage, various other things all put together which will extend liability coverage even if shooting for pay as long as it falls under a nebulous income threshold. Whether or not I use the coverage is another question but for $36 a year it's a no-brainer.

 

[Huskerfan]

Just got off the phone with my Georgia SF agent. At first they said they do not offer it, then I had to convince them to look into it further. Had me on hold while they called elsewhere. Came back saying its a go.

Questions they will ask.

Is this for personal use or business.
Is it under 55lbs.

They will then ask for.
Receipt/invoice
Picture of what all is being covered.

Since I already have some personal article policies they have to contact someone else to give me a new policy price. I'll update once I know how much the are charging just for the drone.

I already have DJI care so if I just destroy the Drone, I'll use that. If it flys away, SF it is.

And what if you tell them it's for business cause I have my pilots license?


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