The Ever-Growing World of Drones
By Sheryl Homer
Our clients come to us with all kinds of needs, and we work with our carrier partners to meet these needs to the fullest extent possible. For example, the evolving market for drones and unmanned aviation markets require insurance to let our clients protect their incredibly valuable aircraft and drones. Let’s take a look into the world of drones and aviation insurance.
What Does Drone Insurance Include?
Drone insurance, often referred to as UAV insurance, is tailored specifically for operators of drones.
It typically covers:
- Damages to the drone itself
- Liability for property damage
- Bodily injury caused by drone operations
- Equipment theft or loss
- Protection against legal fees
For commercial drone operators, this insurance is vital, as they may be held liable for significant damages or injuries resulting from drone use.
Other Types of Aviation Insurance
On the other hand, aviation insurance encompasses a broader range of aircraft, including private planes, commercial airliners, and helicopters. This type of insurance covers various risks associated with flying, such as hull damage, aircraft liability, and passenger liability.
Hull insurance protects against damage to the aircraft itself, while liability insurance covers damages or injuries caused to third parties. Given the high costs of aviation operations and the potential for catastrophic accidents, comprehensive aviation insurance is essential for both private and commercial operators.
Insurance Grows & Adapts
As drones become increasingly integrated into various industries, from agriculture to filmmaking, and as aviation technology advances, the insurance landscape must adapt. Both drone and aviation insurance policies are evolving to address new risks and regulatory requirements, ensuring that operators are adequately protected. For anyone involved in these fields, understanding and obtaining appropriate insurance coverage is a critical step in mitigating risks and ensuring smooth, responsible operations.