In Singapore, getting drone insurance is not mandatory. However, it is recommended that drones are insured for both liability and hull coverage. Both commercial and recreational drone operations are prone to accidents. Thus, having good liability and hull coverage can mitigate any risks associated with accidents. Here is a list of some of the best drone insurance providers in Singapore:
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 Singapore
1. CoverFlight
CoverFlight is a Singapore-based drone insurance provider. It is powered by Garuda Plex, a drone fleet management software. CoverFlight provides both hull and third party liability insurance. The insurance policies can be tailored to your needs. They provide worldwide coverage except the US and Canada. You can get an instant quotation by contacting them here.
- Commercial and Recreational drone coverage
- Hull and Liability coverage
- Multiple drones and pilots allowed per policy
- Worldwide coverage
- Access to drone management platform
2. Skysure
Skysure is a drone insurance program offered by Infinium Robotics. Skysure is great for users who want to opt for on-demand insurance. This means that you do not have to pay annual premiums, and instead can choose which drone flights are to be covered. Additionally, users get free access to an airspace management software. To learn more about Skysure, visit here.
- Commercial and Recreational drone coverage
- On-demand insurance options
- Free airspace management software
3. AXA Singapore
AXA is a globally renowned name in multi-domain insurance. It also offers drone insurance for both commercial and recreational drones. AXA’s leisure drone insurance plans start from $160.50 per annum with up to $100,000 liability cover and up to $2,500 cover for drone loss or damages. However, this drone insurance is limited to Singapore and is not extendable worldwide. You can access the leisure drone insurance application here, and commercial drone insurance application here. All applications must be mailed to enquiry@rpisg.com
- Commercial and Recreational drone coverage
- Affordable insurance plans
- Speciality drone insurance provider
