A new drone insurance company is on the rise. Commercial drone service providers have previously had to choose between limited coverage that was convenient and inexpensive, or more comprehensive traditional policies that were inconvenient and very expensive. Droneinsurance.com may bring the best of both worlds to the commercial drone sector – even for service providers working for bigger clients, on bigger jobs.
Having only on-demand flight liability insurance may make sense for many small commercial operators. But flight-only coverage doesn’t meet the needs of most commercial operators, and as larger enterprises adopt drone programs, it doesn’t meet the needs of customers either. As the industry grows and operators take on more complex missions, they need more coverage options and flexibility: adding pilots and drones, insuring ground equipment, and having access to higher liability limits might be required for specific projects.
That’s where Droneinsurance.com has a unique offering.* With the convenience of an on-demand provider – it takes only a few steps to get insured – Droneinsurance.com gives the assurance of 24/7 coverage for ground-based operations (called “base coverage”), plus allows operators to add flight coverage per job. “We built a very different product to solve some of the unmet needs in the commercial drone insurance market,” says Droneinsurance.com’s COO, Jason Griswold. “DroneInsurance.com was designed to empower commercial drone operators.”
With a base coverage package to take care of year-round needs, operators can add on the flight coverage they need for a specific period or specific job. There’s no radius limit: if the job requires an operator to work at multiple sites, that’s no problem. Coverage can extend from a single day to an entire year for longer projects. And Droneinsurance.com offers options to cover many risks associated with drone missions– from coverages for sensors, ground equipment, and aircraft, to liabilities related to the distribution of the images and videos produced.
It’s a significant change in the industry – an offering that reflects the growth of drone businesses who are now serving larger clients with larger risk management requirements. Droneinsurance.com has taken new applications into consideration, covering FAA-authorized BVLOS flights. It’s designed to allow for seasonal ebb and flow, bigger jobs and smaller projects, fleets and single aircraft. And it’s all done in real-time, “at the speed of business,” says Droneinsurance.com.
The drone industry is a high-tech business. Drones themselves are becoming more and more automated. Flight planning, airspace intelligence, communication with air traffic management, and data analysis all happen in sophisticated applications. It makes sense that the insurance industry is taking a lead in updating traditional methods to meet new business needs.