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Super Cheap Drone Insurance... not what you think...

JakeRobinson

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So, I was reading through a post where a guy lost his drone and insurance was being discussed. One person posted the his State Farm Insurance wrote a "Personal Articles Policy" for $5 per month.

I went "hmmmm" to myself and called my P&C guy and asked about getting this coverage. They (she) told me it would be covered under my personal property coverage that was part of my homeowner's policy. She said I was currently covered for up to $419,000 of personal property - "Imagine if you took your house and turned it upside down and shook it and everything that falls out of it would be covered... including your drone."

For kicks, I asked if she could go ahead and quote a separate rider for the drone using the Personal Articles Coverage? She called her underwriter and came back and asked me what the drone was valued at... I told her the drone and all accessories cost right at $1900 to replace. She then came back with a quote for an astounding $12 PER YEAR!!!

Sounded good by itself but I had a few questions:
1. What if my drone wasn't at home? She said it doesn't matter, it was covered...
2. What if my drone was stolen? She said it doesn't matter, it was covered...
3. What if my drone crashed into pieces? She said it doesn't matter, it was covered...
4. What if the drone crashed into a pond or lake and sank to the bottom and I could even recover it? She said it doesn't matter, it was covered...
I was very thorough explaining to her what my concerns are.
5. Were there any exclusions? She did not give me any specifics, she just said, "Well, if you have this coverage and you make a claim we will write you a check for $2000" (that's the amount I asked to write the policy for)
6. Do I have to show evidence or bring in parts from the drone if it is destroyed? Nope, just call us and let us know you need to make a claim...

Hope there are not too many dishonest folks out there... too many people take advantage of this in the wrong way and insurance companies will put the kibosh on drone coverage.

I am pretty stoked that my Mavic 2 Zoom (which I purchased used) will be covered for about the price of replacing a set of propellers...

Is this crazy or what?

My coverage for home and cars is through Erie Insurance Company...

keep in mind that this is NOT liability insurance... I may need to make a call for that... I do own an umbrella policy to cover most liability issues...
 
So, I was reading through a post where a guy lost his drone and insurance was being discussed. One person posted the his State Farm Insurance wrote a "Personal Articles Policy" for $5 per month.

I went "hmmmm" to myself and called my P&C guy and asked about getting this coverage. They (she) told me it would be covered under my personal property coverage that was part of my homeowner's policy. She said I was currently covered for up to $419,000 of personal property - "Imagine if you took your house and turned it upside down and shook it and everything that falls out of it would be covered... including your drone."

For kicks, I asked if she could go ahead and quote a separate rider for the drone using the Personal Articles Coverage? She called her underwriter and came back and asked me what the drone was valued at... I told her the drone and all accessories cost right at $1900 to replace. She then came back with a quote for an astounding $12 PER YEAR!!!

Sounded good by itself but I had a few questions:
1. What if my drone wasn't at home? She said it doesn't matter, it was covered...
2. What if my drone was stolen? She said it doesn't matter, it was covered...
3. What if my drone crashed into pieces? She said it doesn't matter, it was covered...
4. What if the drone crashed into a pond or lake and sank to the bottom and I could even recover it? She said it doesn't matter, it was covered...
I was very thorough explaining to her what my concerns are.
5. Were there any exclusions? She did not give me any specifics, she just said, "Well, if you have this coverage and you make a claim we will write you a check for $2000" (that's the amount I asked to write the policy for)
6. Do I have to show evidence or bring in parts from the drone if it is destroyed? Nope, just call us and let us know you need to make a claim...

Hope there are not too many dishonest folks out there... too many people take advantage of this in the wrong way and insurance companies will put the kibosh on drone coverage.

I am pretty stoked that my Mavic 2 Zoom (which I purchased used) will be covered for about the price of replacing a set of propellers...

Is this crazy or what?

My coverage for home and cars is through Erie Insurance Company...

keep in mind that this is NOT liability insurance... I may need to make a call for that... I do own an umbrella policy to cover most liability issues...

Sounds like a winner. I think you should definitely review your policy and make sure that what they tell you is in fact the case.
 
Make a claim for your drone on a homeowners policy and see what happens to your premium, not to mention subtracting the deductible from that check.
 
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First off, if it was homeowner policy, there would be 1000$ or more deductible, then it would be considered a claim against that policy. Am I right?

Not necessarily. I often suggest $500 deductibles on homeowners policies. Second, it depends on how it was added. To me (I am licensed to sell in WA, through Safeco) it sounds like this was added as a specific listed item with an agreed value. This means that when a claim is filed, the insurance pays the agreed value with no deductible or need for co-insurance. Drones can be listed as agreed value as they are viewed as a “cameras”. Filing a claim can definitely raise your rates though. I would suggest the personal articles policy on the drone itself.
 
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First off, if it was homeowner policy, there would be 1000$ or more deductible, then it would be considered a claim against that policy. Am I right?

I'm not sure the personal property is included in deductible, but never-the-less, I did ask for the separate rider which she quoted me with 0 deductible
Sounds like a winner. I think you should definitely review your policy and make sure that what they tell you is in fact the case.

I will def take your advice and read it carefully...
.
 
Not necessarily. I often suggest $500 deductibles on homeowners policies. Second, it depends on how it was added. To me (I am licensed to sell in WA, through Safeco) it sounds like this was added as a specific listed item with an agreed value. This means that when a claim is filed, the insurance pays the agreed value with no deductible or need for co-insurance. Drones can be listed as agreed value as they are viewed as a “cameras”. Filing a claim can definitely raise your rates though. I would suggest the personal articles policy on the drone itself.


This is exactly how she explained it to me - NO DEDUCTIBLE and a separate policy/rider naming the drone - she did ask for the make/model of the drone.

I wouldn't want my premium to go up but if I brick my M2Z I may take that risk since it is a $2k investment going up (down in this case) smoke...
 
First, in the State of FL, State Farm insurance told me that it has to go under my homeowner's insurance which my deductible for my hOME is $1000.00. Per State Farm, they don't write separate policies for drones unless you have there homeowners insurance and a course I do not, so you're are pretty much SOL! So that's why I took out the Dji Care Package for $99.00.
 
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Sounds like a good idea to check on. The low cost is based on the statistics that most would never collect because they feel it's low probability on you crashing your drone. If you ever ask what a one million dollar liability would cost to add to your policy, you'll be surprised how little it cost. Again, based on the lower probability of it happening. I will definitely check with my insurance company for my drone.
 
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First, in the State of FL, State Farm insurance told me that it has to go under my homeowner's insurance which my deductible for my hOME is $1000.00. Per State Farm, they don't write separate policies for drones unless you have there homeowners insurance and a course I do not, so you're are pretty much SOL! So that's why I took out the Dji Care Package for $99.00.

Its time for you to find a different agent. You might have to shop around, but trust me, you can get a PAP in Florida that just covers your drone.
 
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Reactions: FLPilotshark
Sounds like a good idea to check on. The low cost is based on the statistics that most would never collect because they feel it's low probability on you crashing your drone. If you ever ask what a one million dollar liability would cost to add to your policy, you'll be surprised how little it cost. Again, based on the lower probability of it happening. I will definitely check with my insurance company for my drone.

Umbrella policies are very inexpensive as they often require higher limits of liability on your underlying policies (home and auto.) the state minimum in auto liability in WA is only $60K overall but you would be hard pressed to get and umbrella policy if you did not carry at least $400K in coverage. Home, typically $300-500k is required. The chance a suit goes for more than those amounts is slim so the umbrella is cheap. They are very good things to have just in case.
 
Its time for you to find a different agent. You might have to shop around, but trust me, you can get a PAP in Florida that just covers your drone.

I’m not a State Farm policy holder and had no problem getting a PAP quote here in Florida. My only issue is the $100 deductible they want. Other comments from people here seem to indicate there is not deductible on their SF PAP policy so not sure what is going on. Am trying different agents to see that they say.
 
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I’m not a State Farm policy holder and had no problem getting a PAP quote here in Florida. My only issue is the $100 deductible they want. Other comments from people here seem to indicate there is not deductible on their SF PAP policy so not sure what is going on. Am trying different agents to see that they say.

The first time I tried to get my drone covered, I called around to different State Farm agents and found 2 that knew what they were doing. Out of 8 contacted, only 2 knew how to write it.
 
First off, if it was homeowner policy, there would be 1000$ or more deductible, then it would be considered a claim against that policy. Am I right?
I have my camera equipment on my homeowners as a rider. Made a claim, there was no deductable. I fell in a creek , camera body got wet and crack on body, the lens barrel got bent, sent to Nikon total claim just over $2000 no deductable I was shocked. Concerned my insurance would go up they said no this claim would not count againt my policy. Insurance did go up but I was told it was because of housing value increase and normal policy annual increase. I think it was about $100 increase. Nashville, TN housing is going up about 7% annual at the moment.
 
So, I was reading through a post where a guy lost his drone and insurance was being discussed. One person posted the his State Farm Insurance wrote a "Personal Articles Policy" for $5 per month.

I went "hmmmm" to myself and called my P&C guy and asked about getting this coverage. They (she) told me it would be covered under my personal property coverage that was part of my homeowner's policy. She said I was currently covered for up to $419,000 of personal property - "Imagine if you took your house and turned it upside down and shook it and everything that falls out of it would be covered... including your drone."

For kicks, I asked if she could go ahead and quote a separate rider for the drone using the Personal Articles Coverage? She called her underwriter and came back and asked me what the drone was valued at... I told her the drone and all accessories cost right at $1900 to replace. She then came back with a quote for an astounding $12 PER YEAR!!!

Sounded good by itself but I had a few questions:
1. What if my drone wasn't at home? She said it doesn't matter, it was covered...
2. What if my drone was stolen? She said it doesn't matter, it was covered...
3. What if my drone crashed into pieces? She said it doesn't matter, it was covered...
4. What if the drone crashed into a pond or lake and sank to the bottom and I could even recover it? She said it doesn't matter, it was covered...
I was very thorough explaining to her what my concerns are.
5. Were there any exclusions? She did not give me any specifics, she just said, "Well, if you have this coverage and you make a claim we will write you a check for $2000" (that's the amount I asked to write the policy for)
6. Do I have to show evidence or bring in parts from the drone if it is destroyed? Nope, just call us and let us know you need to make a claim...

Hope there are not too many dishonest folks out there... too many people take advantage of this in the wrong way and insurance companies will put the kibosh on drone coverage.

I am pretty stoked that my Mavic 2 Zoom (which I purchased used) will be covered for about the price of replacing a set of propellers...

Is this crazy or what?

My coverage for home and cars is through Erie Insurance Company...

keep in mind that this is NOT liability insurance... I may need to make a call for that... I do own an umbrella policy to cover most liability issues...

I just had to file a claim for my Inspire 2 with State Farm for a recent crash and they paid off within 2 days. I am not going to say how large the payout was but suffice it to say it was very large $$$$$.
I am a firm believer in carrying drone insurance after seeing how quickly my claim was handled. And my policy wasn’t canceled.and my M2P is still covered under the same policy.
 
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A big draw to State Farm is insuring your UAV with no strings attached and no other policies required. That also means that many agents don’t want to be bothered, I don’t think the commission on a $5. monthly policy is the quietest way to retirement.
My experience:
I had all of my insurance with Safeco, my agent said (after checking into it) she could not help with UAV coverage. I then started calling State Farm Agents, some said can not be done, one said he would look into it and get back to me, never heard back and one said can do but $100. deductible. The last one I called, said yep I can help you with that. She asked a few questions then said she could write it a few different ways and asked if I could stop by and bring receipts for everything UAV related. I dropped off my stack of receipts the next morning, she called me a few hours later and this is what she had. Coverage for Phantom 4 Pro, Mavic Air, DJI Goggles, 7.5 Crystalsky, Hard cases for all, 4 Phantom batteries, 4 Air batteries, filters, SD cards, on and on. $65. per year (0.18 per day). No deductible, full replacement cost, no matter what happens to it and no corpse needed.
The next morning I went to pay up but brought all my insurance policies asked her to take a look, 4 cars, home, umbrella and healthcare.
State Farm now has it all. Her efforts for $65. annual policy resulted getting all my insurance. All of the LAZY insurance agents need to get a clue.
 
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