To fly a drone commercially, pilots need to be certified under Part 107. The FAA reports that over 1.7 million drones were registered as of December 2020 with the majority of them being for recreational purposes. Irrespective of the type of drone you’re flying, it is better to have drone insurance. Insurance is not only useful for commercial drones but also for recreational drones. Let us take a look at some of the best drone insurance companies available in the US:
Factors to consider before purchasing drone insurance
Coverage: Some companies only offer liability coverage that covers property damage or bodily injuries caused by their drone. Therefore, if the insurance company offers both liability and hull coverage (physical damage to your drone) it may be a better option. You may also find add-on coverage options for equipment, remote controls, etc.
Plans: This is another important factor to keep in mind while choosing drone insurance. For recreational drone pilots, purchasing an expensive annual plan wouldn’t be the best option. Therefore, hourly, monthly, and annual plans must be looked at and some companies also offer customized plans.
Coverage Amount: This is a good factor to watch for. The heavier the drone is the riskier it is for the people and property on the ground. Therefore, choosing a drone insurance provider which has a high liability coverage can help mitigate the concern of damage in case of a mishap.
Type of Drone: The type of drone insurance you buy largely depends on the type of drone you have and the operation. If it is a medium-sized drone, weighing around 2kg, operating around a lot of people and buildings, you may want a high liability and hull insurance. However, if you’re an FPV pilot flying in controlled and closed surroundings, recreational drone insurance with just hull coverage will do just fine. Therefore, analyze the type of drone and its operation to better understand your needs.
Best Drone Insurance Providers in the US
1. Skywatch.ai
Skywatch.ai is one of the best drone insurance providers in the US. It has flexible annual, monthly, and hourly plans for UAV insurance. Skywatch has a mobile app from which pilots can purchase insurance only when they require it. The liability coverage ranges from $500,000 to $10 million. Users can ask for a free quote from Skywatch, provided that you have a drone registration number. Hourly plans start at $7 per flight, and that monthly plans range from $42 to $208. Annual plans are also available starting at $500. Learn more about Skywatch’s drone insurance here.
- Flexible hourly, monthly, and annual plans.
- Mobile app for purchasing insurance.
- Liability coverage up to $10 million
- Innovative features like Skywatch Map and Flight App
2. USAIG
The United States Aircraft Insurance Group (USAIG) is one of the oldest (since the 1920s) aircraft insurance companies in the US. It is well known for providing both hull and liability insurance. Recently, USAIG has ventured into drone insurance and offers very specific plans for commercial and government drone projects. Some of the plans they offer are war liability, terrorism risk insurance, and coverage for expensive ground equipment and spare parts. While these plans may not be suitable for recreational pilots, USAIG’s coverage is apt for big commercial projects both nationally and internationally. Learn more about USAIG’s drone insurance here.
- Renowned Insurance provider in the US
- Provides both hull and liability coverage
- Great coverage for international operations
- Suited for large scale commercial and government projects.
- Provides specific plans
3.BWI Fly
BWI Fly is a great option for one of the highest liability coverages. It offers up to $25 million in liability coverage. Customers have the option to customize and tailor their policy needs with several add-ons. The company also offers hull coverage for up to $500,000. The only downside of BWI Fly is that it does not offer on-demand (hourly) coverage plans. Therefore, if you’re a frequent flyer, BWI Fly is a good option. Learn more about BWI Fly’s drone insurance here.
- One of the highest liability coverage of up to $25 million
- Provides hull coverage
- Customizable plans and add-ons
- Great for frequent flyers
4.Thimble
Thimble is one of the best picks for hobbyists. Thimble allows for a single occasion or for sessions throughout the year. This means those hobby drone pilots who only operate their drones occasionally can purchase from Thimble and get immediate proof of coverage. You can ask for an online quote without having a drone registration number. It offers liability coverage of up to $10 million. The only downside is that Thimble does not offer hull coverage yet. Learn more about Thimble’s drone insurance here.
- Best for hobbyists
- On-demand coverage options
- Immediate proof of coverage
- Does not require drone registration for online quote
5. DroneInsurance.com
DroneInsurance.com is best for travelers. The company offers one of the best worldwide coverage. DroneInsurance.com operates using REIN, an insurtech platform that focuses on on-demand insurance products. It offers high liability coverage of up to $25 million and also offers hull coverage. Learn more here.
- High liability coverage of up to $25 million
- Best worldwide coverage
- On-demand coverage available
- Mobile app for insurance purchase
6. AIG
AIG is another well-established insurance provider. It has recently started providing UAV insurance. AIG provides both liability and hull coverage. With an option of customizing policies, customers can decide on the type of insurance they want. AIG also offers specific coverage for government/international projects such as war and terrorism coverage. The only downside is that there is no web or mobile application to purchase the insurance. Learn more about AIG’s drone insurance here.
- Provides hull and liability coverage
- For recreational and commercial flying
- Customizable policies
- Specific coverage for international projects
7. Avion
Avion provides drone insurance for both commercial and recreational flying. It provides both hull and liability coverage. Additionally, customers have the option of opting for coverage for onboard components, gimbals, and onboard DSLRs. Avion is backed by Global Aerospace, which is one of the leading providers of aeronautical insurance. Learn more about Avion’s drone insurance here.
- Provides hull and liability coverage
- For recreational and commercial flying
- Additional coverage services available
- Backed by Global Aerospace
