What do the U.S. Army, Amazon, and your local photographers all have in common? They’re all experimenting with drones in innovative ways to do their jobs. As if the hubbub over drones and their place in modern commerce wasn’t already at a fever pitch. We also need to consider the drone insurance ramifications of these drones specifically when it comes to property damage and bodily injury.
The use of flying robotics in the form of drones is happening. And its commercial growth is predicted to increase rapidly and significantly. And while we can all picture little four- and five-rotor drones delivering packages and collecting photos. We can’t forget to picture that unfortunate time when one runs out of power and crashes to earth, damaging property along the way.
Since the Federal Aviation Administration (FAA) hasn’t yet approved drones for commercial use or released regulations. On exactly how and when businesses can use drones, it’s still too early to know exactly how using drones will impact your small business insurance coverage. Developments suggest the commercial drone insurance coverage requirements will depend on what the aircraft mean.
If you’re thinking of using a drone in your small business. Your insurer about five types of coverage: liability insurance, personal injury, invasion of privacy, property damage, and Workers’ Compensation. Since this is an emerging technology. it’s important to talk to your insurer to see if what you’re using is covered.
Recreational drones and insurance
Most drone operators start out with little or no aviation experience. So, even if you follow the regulations and the laws. you might experience pilot error, or unplanned equipment failure. With some models tipping the scales of up to 55 pounds, rogue drones can pose a significant threat to people and property and to your personal liability. That’s why it’s a smart to add an insurance review to your pre-flight checklist.