state farm policy update

[jaysrmc]

Just got off the phone with State Farm. You put in a claim in the first you chances are you will dropped unless you have other policies with them. Even if you buy a new drone, they won't insure if it in the first year. Just the way it works. I have three drones on my policy, if I file a claim on one of them, they all get dropped. So, that is the biz. I also got My agent to agree to a question and answer on my pod cast for those of you that have questions.

 

[BD0G]

Just post the podcast link so we can listen in.

Cut me a check for 1300 Dollars for a lost or damaged Mavic Pro and I am fine with them dropping me from drone coverage. Thats what the policy is for! I dont expect them to cover drone after drone after drone...
They wont cancel all the other policies I have with them as a result. I have multiple vehicle policies, home, etc. One 1300 dollar drone claim wont cause a cancellation of all policies. I made a 15 thousand dollar claim for theft of a cargo trailers contents using my home owners policy approx 2 years ago. Police report supported everything claimed that needed replacement. I was kinda unhappy about the depreciation of the items , but thats the way it works. Let me stop droning on... LOL

 

[Mike4884]

Yep everybody thinks State Farm is like the best thing since sliced bread and most likely you will get your first claim.... but after that you are dropped like a bad habit. Had a friend that had a personal articles policy with them he claimed his Phantom 4 Pro after 6 months with them right after he got the check he was told that he could not get a PA policy with them again and that he would be dropped. If you think about it it makes sense how in the world is State Farm making any money off this even more so making out?

 

[ac0j]

The more claims that are made, the higher the probability that they wont even offer a drone policy. OR it would be so expensive, it wouldnt be worth buying.

 

[BD0G]

I expect that if I ever have to claim on my personal articles policy I will get reimbursed once and just once. They will not cancel all my other policies -cars, motorcycles,home , etc as a result of one drone claim. They will more than likely cancel or stop me from renewing my personal articles policy for said drone. Im more than fine with that. Insurance is just that . Something that should be used in case of accidents.

 

[tcope]

Just got off the phone with State Farm. You put in a claim in the first you chances are you will dropped unless you have other policies with them. Even if you buy a new drone, they won't insure if it in the first year. Just the way it works. I have three drones on my policy, if I file a claim on one of them, they all get dropped. So, that is the biz. I also got My agent to agree to a question and answer on my pod cast for those of you that have questions.

The policy would be cancelled if 1) they pay the policy limits and /or 2) the policy runs its course (a year policy). They cannot pay part of the limits and then simply cancel the policy and keep your money. They would not be honoring the contract.

If your agent is telling you that they can simply take your $60 for $2000 in coverage, pay $1000 and keep your $60, your agent needs to go back to school.

 

[SRJ_Mavic_PRO]

Just got off the phone with State Farm. You put in a claim in the first you chances are you will dropped unless you have other policies with them. Even if you buy a new drone, they won't insure if it in the first year. Just the way it works. I have three drones on my policy, if I file a claim on one of them, they all get dropped. So, that is the biz. I also got My agent to agree to a question and answer on my pod cast for those of you that have questions.

I filed a claim, was paid next day and still kept my other two drones insured and never dropped.....

 

[stealth.pilot]

To be honest I am less concerned about insuring the drones and more concerned about insuring the liability if the drone falls out of the sky and damages something or someone. That is a much bigger dollar risk.

 

[gjmphoto]

To be honest I am less concerned about insuring the drones and more concerned about insuring the liability if the drone falls out of the sky and damages something or someone. That is a much bigger dollar risk.

I have the State Farm insurance ... There is no liability insurance. If your concern is liability, get yourself a 1-2 million dollar liability policy for 25 a year and it will cover you for all sorts of possibilities.

 

[Maineiac]

I had a claim in the first year and was dropped at renewal time. It was my only State Farm policy so I suspect this all depends on your relationship with them.

 

[stealth.pilot]

You probably mean umbrella insurance. I have that already, but I think this warrants a specific policy. I have a policy through my membership of the Academy of Model Aeronautics which covers members for up to $2.5 million of damages.

 

[jaysrmc]

The policy would be cancelled if 1) they pay the policy limits and /or 2) the policy runs its course (a year policy). They cannot pay part of the limits and then simply cancel the policy and keep your money. They would not be honoring the contract.

If your agent is telling you that they can simply take your $60 for $2000 in coverage, pay $1000 and keep your $60, your agent needs to go back to school.

Whatever you say.

 

[jaysrmc]

I filed a claim, was paid next day and still kept my other two drones insured and never dropped.....

That is sweet! I don't know if insurance laws are different for each state but that is what I was told by my agent.

 

[tcope]

That is sweet! I don't know if insurance laws are different for each state but that is what I was told by my agent.

You'd need to know the answer in order to ask the right question. A person pays a premium for a limit. That limit can be the policy limit or what is covered under the policy. A carrier cannot simply take your money with a promise to honor the policy and then just keep the money and not honor the agreement.

 

[Marooned4]

Just got a no deductible policy through State Farm for $33.00 a year.[emoji106][emoji106]