Verifly, the innovative on-demand drone insurance platform, has upgraded their offering. The new version expands the coverage up to $2,500,000; increases the coverage areas and time periods, and allows operators to self-certify that they have permission to fly in restricted areas.
Verifly has made a big impact for commercial and recreational drone operators since launching in August. With the Verifly app – downloaded 11,000 times so far – drone operators can purchase liability insurance for a limited time period in a limited radius; what Verifly calls “precision insurance.” Precision insurance means that commercial operators can provide insurance for a specific job, assigning the costs to the customer – a system that works well for both parties. The customer has proof of insurance and pays only the pretty modest hourly fee for their job; the operator doesn’t go through the hassle of setting up a policy which they’ll have to pay for whether they fly or not.
While the concept has proven wildly successful in its initial form, the new version adds significantly to functionality aimed at professional operators. The platform now provides a self-certification system which enables pilots to secure insurance coverage near restricted areas such as airports, indicating that they have appropriate permission to fly in these areas. Approved pilots may have “universal coverage” with Verifly. In addition, pilots can now choose up to $2,500,000 liability policies; 4 – and 8-hour packs for jobs like events that may require several flights over a longer period; and a larger coverage area, up to 1/2 mile radius from the location specified.
Jay Bregman, CEO of Verifly, tells DRONELIFE that the new version was driven by drone operators’ needs: “Verifly’s latest release addresses key feedback from our pilots. Most importantly, our pilots wanted to be able to secure insurance coverage anywhere that they were authorized to fly… In addition, the expanded options give pilots more flexibility. For example, if one client wants $2.5m coverage, you can select that for that particular job but not pay for that level of coverage for an entire year. Similarly, many customer projects fall into half-day or full-day buckets and the 4-hour and 8-hour policies map to that request. Last, the 1/4 mile radius worked for most jobs but some jobs need a bit of a broader coverage area which is why we rolled out the 1/2 mile radius option.”
“Verifly is fast-becoming the standard in drone insurance,” says Bregman. “Thousands of commercial and recreational operators have used our apps to buy billions of dollars in insurance since our launch. This new update allows Part 107 pilots to get insurance anywhere they are authorized with a few taps.”
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
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