State Farm Mavic Insurance

[mw174620]

It is too good to be true.

You are incorrect. The policy terms stated it is covered 100% with no depreciation taken. So unless you are claiming State Farm is committing fraud, they do cover what they stated they cover. As for premiums going up, that is a totally different story.

Also, see this forum about 6 comments down. Short reply from someone who has this insurance, filed a claim, and got $1,000.

State Farm Drone Insurance

I agree with you and the other poster saying they don't see the reason to get it. I was about to sign up, but after reading over the policy and exploring options, plus the rise in premiums for claims and the fact I got my Part 107, I chose to not get the policy.

 

[PalmettoAerial]

You are incorrect. The policy terms stated it is covered 100% with no depreciation taken. So unless you are claiming State Farm is committing fraud, they do cover what they stated they cover. As for premiums going up, that is a totally different story.

Also, see this forum about 6 comments down. Short reply from someone who has this insurance, filed a claim, and got $1,000.

State Farm Drone Insurance

I agree with you and the other poster saying they don't see the reason to get it. I was about to sign up, but after reading over the policy and exploring options, plus the rise in premiums for claims and the fact I got my Part 107, I chose to not get the policy.

What would you need (insurance wise) if you are indeed 107 or plan to be?

I am in real estate development and possibly could run aerial shots / jobs for clients through and LLC as a small part time side operation ... just a thought and while we are on the insurance thing figured I would ask

 

[mw174620]

What would you need (insurance wise) if you are indeed 107 or plan to be?

I am in real estate development and possibly could run aerial shots / jobs for clients through and LLC as a small part time side operation ... just a thought and while we are on the insurance thing figured I would ask

It really depends on the scope of work and the risks involved in those operations. One of the most common ones I see people using in my experience is Verifly. It is called "on demand insurance". You download the app, it detects your location, and depending upon the area you are in and some other factors, it spits out a price for hourly insurance. I have used it, never had to make a claim, so I don't know that side of Verifly, but it can get expensive if you are just going out to capture some shots of a property. It starts at $10/hour for I believe $1 million in liability coverage. All of that said, Verifly does not cover the drone itself. This is liability insurance offered to cover damage to people and property (drone excluded) during the use of your drone. The nice thing about Verifly, you aren't paying year round when you might no be utilizing it. You only pay for it when you need it.

As for coverage on the drone itself for use in commercial activites, I have not secured a policy yet. I have looked into the options and am currently speaking with AIG because they do offer commercial coverage, however I do not have an LLC set up yet, so I am having some issues with getting a policy sample from them and from what little info I have found, it appears this is a liability coverage as well. Avion Insurnace is another one, but I don't know much about them. Both AIG and Avion state they will customize policies to fit your needs, so again I think it is a matter of have a business liability policy with a rider for "hull" coverage on the drone. I have reached out to both companies recently and once I make a decision, I will update you.

 

[Someone Else]

What would you need (insurance wise) if you are indeed 107 or plan to be?

I am in real estate development and possibly could run aerial shots / jobs for clients through and LLC as a small part time side operation ... just a thought and while we are on the insurance thing figured I would ask

IIRC there is an online service that you basically go on and say that you will be filming from (for example) 2-4PM on Tuesday and you pay by the hour. It's liability insurance to cover things like your drone crashing into something or causing a personal injury.

EDIT: What mw174620 said.

 

[mw174620]

What would you need (insurance wise) if you are indeed 107 or plan to be?

I am in real estate development and possibly could run aerial shots / jobs for clients through and LLC as a small part time side operation ... just a thought and while we are on the insurance thing figured I would ask

Hey a quick updated, based on the info I provided, it would be approx. $118 a year for drone "hull" coverage with a 5% deductible, through Avion Insurance. I still haven't completed the process, so I am still assuming that is if you combine it with a liability policy.

 

[mw174620]

So this is purely based off the info I provided for my specific situation and activities, but here is a breakdown of Avion Insurance's estimated price:

Property Coverage on the Mavic, which I put as begin $850 since that is the price of the drone and a battery (making the assumption my remote will be ok) - $118/year
$1,000,000 in liability and $1,000,000 in personal injury - $637/year
Total = $755/year

This includes $5,000 medical expense coverage, $5,000 bail bonds, $100,000 fire legal, and contractual liability up the policy limit. As well as coverage for acts of terrorism.

I don't have all the fine details, I would encourage yall to go apply if you need it. I am still going to go out to numerous reps in the next week or two to try and find the best deals. Again this varies by location, the person you are, the activities you do, etc. Not everyone is going to get the same price.

 

[jamesgb]

If you are worried about liability, check with your renters or homeowners insurance agent about getting an umbrella policy added to your current insurance (homeowners, renters, auto). It covers someone suing you for basically whatever. Then you are protected for your drone activities and other stuff (driving your car, someone trips in your driveway, etc.). Then get separate property insurance on your drone if you feel you need that protection (through state farm or avion, etc).

 

[namja]

To reiterate ...

If you are using it for commercial use, then you will need to get a BOP (Businessowners Policy). A BOP has two parts but they are combined into one: liability coverage and property coverage. The liability coverage typically starts at $1,000,000 and this protects you from lawsuits because of injury caused to others by your actions. The property coverage is exactly what it sounds like as this will cover your business-related properties, and this generally has a $500 deductible attached to it.

Obviously this will vary greatly by country, but this also varies by state. The $755/year that @mw174620 quoted sounds about right. Some companies will have a minimum premium of $1000.

Edited to add: As for the umbrella policy for personal use, that's nice to have for extra protection but is not required to get personal liability. A typical homeowners policy or renters policy already has personal liability built in to it. Basic is $100,000 liability, but you can up it to $300,000 for about +$25/year. An umbrella policy will add another $1,000,000 liability protection on top of that, and it runs about $150/year. In order to get an umbrella policy though, most companies require that you have at least $300,000 in underlying liability coverage in your homeowners/renters policy. In addition, you generally need 250/500/100 or 300/300/100 underlying BI/PD liability coverage in your auto policy to qualify for the umbrella but most people only have like 25/50/25 coverage.


I am currently a Software Product Manager, but I worked as an insurance agent for almost 3 years.

 

[mw174620]

To reiterate ...

If you are using it for commercial use, then you will need to get a BOP (Businessowners Policy). A BOP has two parts but they are combined into one: liability coverage and property coverage. The liability coverage typically starts at $1,000,000 and this protects you from lawsuits because of injury caused to others by your actions. The property coverage is exactly what it sounds like as this will cover your business-related properties, and this generally has a $500 deductible attached to it.

Obviously this will vary greatly by country, but this also varies by state. The $755/year that @mw174620 quoted sounds about right. Some companies will have a minimum premium of $1000.

Edited to add: As for the umbrella policy for personal use, that's nice to have for extra protection but is not required to get personal liability. A typical homeowners policy or renters policy already has personal liability built in to it. Basic is $100,000 liability, but you can up it to $300,000 for about +$25/year. An umbrella policy will add another $1,000,000 liability protection on top of that, and it runs about $150/year. In order to get an umbrella policy though, most companies require that you have at least $300,000 in underlying liability coverage in your homeowners/renters policy. In addition, you generally need 250/500/100 or 300/300/100 underlying BI/PD liability coverage in your auto policy to qualify for the umbrella but most people only have like 25/50/25 coverage.


I am currently a Software Product Manager, but I worked as an insurance agent for almost 3 years.

Not trying to beat a dead horse, but your added note again is based on personal or commercial use. You cannot legally use the drone for business purposes and have it covered by a homeowners policy. I say legally cause some people might commit fraud and get the cheap $60 coverage from State Farm and just say its for personal use.

A question, the policy from Avion had two separate categories, one was liability and property damage (excluding the drone) and the other was property coverage on the drone itself. They quoted $118 for the property coverage and the $637 for liability/property up to $1 million. Are you saying a property coverage should entail your businesses drone?

 

[namja]

A question, the policy from Avion had two separate categories, one was liability and property damage (excluding the drone) and the other was property coverage on the drone itself. They quoted $118 for the property coverage and the $637 for liability/property up to $1 million. Are you saying a property coverage should entail your businesses drone?

Generally when you get business property coverage, that covers ALL of your business properties including the drone. Avion is a specialty insurance company for aviation, so their coverage probably differs from the typical business property insurance. Maybe the separate drone coverage has $0 deductible and higher limits? Maybe it acts like a warranty also so if something breaks down they will fix it?

 

[Bayside]

I have read a lot about different insurance options and elected to buy the Asurion plan because for 2 years for 149 because it would repair or replace the drone with no deductible and thought that was better then the DJI refresh at $99 plus 79 dollars for first and more for the second.

The only concern with the above 2 was the fact that it didn't cover against fly aways or if it decided to go swimming in the water and not come up. I so happened to talk to a fellow Mavic owner near me yesterday and he said he bought a State Farm Policy for $30 dollars a year and it covers the full value against theft, accidents, losing it you name it. I called Asurion and cancelled that through Amazon really easily and called State Farm today and the first agent was clueless and didn't know anything. I called another one and they quickly took my information, I paid the 30 dollars and now I am covered. They emailed me the policy and it was super quick and easy. Side note, I have no policies with State Farm and I am in Virginia.

The key words you want to say are a Personal Articles Application for a drone. The lady I used is Shannon Jordan at 757.480.0033 if you have any questions.

I'm 757 at York Point, where are you at, appromiately? I'd love to have a flying buddy around.

 

[AKONI]

This is going to be my first post. First off, I would just like to saw hello.

I have been following this thread closely and today opted to call local agents here in the San Francisco, California Bay Area.

After calling 10 State Farm agents, one agent finally answered me directly that YES! California will insure drones (I was so surprised!)
http://www.thangvo.com/

 

[mw174620]

This is going to be my first post. First off, I would just like to saw hello.

I have been following this thread closely and today opted to call local agents here in the San Francisco, California Bay Area.

After calling 10 State Farm agents, one agent finally answered me directly that YES! California will insure drones (I was so surprised!)
http://www.thangvo.com/

Nice first post, pretty sure you are the first person who got a yes from State Farm, in Califronia. I am sure there are insurers who will, but I was under the impression that no State Farm reps were doing drone insurance. Good Luck

 

[AKONI]

Nice first post, pretty sure you are the first person who got a yes from State Farm, in Califronia. I am sure there are insurers who will, but I was under the impression that no State Farm reps were doing drone insurance. Good Luck

Two agents has gotten back to me, with clueless informations that they gathered from corporate. This agent was knowledgeable. I will update my experience, as am in the process of getting my policy through them.

I will, update my experience and thank you for the warm welcome.

 

[mpshev]

Buying life insurance is priority over mavic insurance. If your looking for insurance I would look at that before insuring your drone.