Have you ever thought about what could go wrong during a drone operation?
Imagine your drone crashing into a car during a real estate shoot or malfunctioning mid-air while surveying a construction site. These scenarios can result in expensive repairs, liability claims, or even lawsuits.
With the rapid rise of drone technology, having comprehensive insurance coverage is not just a necessity, it’s a responsibility.
USAIG (United States Aircraft Insurance Group), the nearly 90-year-old aviation insurance group, has been making great strides in terms of the policies they are offering drone pilots.
In this article, we’ll explore how USAIG UAS insurance protects your investment, reduces risks, and helps your operations run seamlessly.
Why Drone Operators Need Insurance
Operating a drone is about more than just flying—it’s about managing responsibility and mitigating risks. Here’s why insurance is essential for drone operators:
1. Accidents Are Unpredictable
Even the most experienced pilots can’t always anticipate sudden wind gusts, technical malfunctions, or signal interference. According to a 2021 FAA report, over 1,700 drone-related incidents were recorded in U.S. airspace within a single year.
2. Third-Party Liability
Drones often operate in areas with people and property, increasing the potential for accidents. For instance, during an outdoor event, a drone collided with a stage setup, causing hefty fines for damages and disrupting the event.
3. High Equipment Costs
Professional drones and their payloads come with hefty price tags, often exceeding $15,000. Repairing or replacing damaged equipment can place a significant financial strain on operators.
4. Regulatory Compliance
Many industries require drone operators to carry liability insurance to comply with FAA regulations and meet client expectations, especially for commercial operations.
What Is USAIG UAS Insurance?
USAIG (United States Aircraft Insurance Group) has been a pioneer in aviation insurance since 1928. The USAIG extends its expertise to the drone sector, offering policies that address unique risks.
With USAIG, you gain access to aviation-exclusive insurance backed by nine decades of aviation expertise, a strong financial foundation, and a global claims network.
What sets USAIG apart is that many of their underwriters are also UAS operators. This firsthand experience provides valuable insights into the unique challenges and risks associated with UAS.
Why Choose USAIG UAS Insurance?
USAIG offers comprehensive coverage options specifically designed for UAS operators, manufacturers, and related equipment.
Here’s a breakdown:
1. Liability Coverage for Third-Party Claims
If your drone causes property damage or bodily injury, USAIG covers the associated costs.
Third-party liability coverages include:
- Premises Liability
- Personal Injury
- Non-Owned Unmanned Aircraft Liability
- Product Liability for Owned Unmanned Aircraft
- War Liability
- Terrorism Risk Insurance Act (TRIA)
2. Physical Damage Coverage
This protects your drone, payload, and ground equipment from damage due to crashes, weather, or other unforeseen incidents.
These physical damage coverages are available:
- Unmanned Aircraft Systems
- Payload or Cameras
- Sensors
- Ground Equipment
- Spare Parts
3. Product Liability for Manufacturers
Component and system design, testing, and evaluation to include:
- System Development
- Component Testing
- Sensor Testing
- Coverage for Large UAS for Special Purpose Missions
4. Performance Vector Program
Performance Vector Unmanned helps promote safe drone operations by providing UAS policyholders with the tools they need to operate safely and comply with regulations. The program aims to build a competent and responsible base of commercial UAS operators.
Performance Vector Unmanned offers safety and loss control services with every USAIG UAS policy. To receive a SafetyPoints allocation, based on the scale and complexity of your coverage, simply request enrollment. Click here to check for the latest offerings.
How to Get a Quote from USAIG
Securing a UAS insurance policy with USAIG is simple:
1. Contact Your Insurance Broker: Discuss your specific risks and needs.
2. Submit an Application: Your broker will provide the necessary forms, which include:
- UAS Insurance Application
- Non-Owned UAS Insurance Application
- Canadian UAS Insurance Applications (if applicable)
3. Receive an Underwriting Response: USAIG will evaluate your application and provide a quote.
If you don’t have a broker, call USAIG at 212-952-0100, and they will recommend a qualified broker in your area.
Electronic Applications and Forms
USAIG provides electronic and print-only application forms for convenience. Some of the key forms include:
Application
- Unmanned Aircraft System (UAS) Insurance Application
- Non-Owned Unmanned Aircraft System (UAS) Insurance Application
- Canadian Unmanned Aircraft System Insurance Application
- Canadian Non-Owned Unmanned Aircraft System Insurance Application
Form
- Unmanned Aircraft System (UAS) – Remote Pilot Record
- Canadian Unmanned Aircraft System Pilot – Operator Record Form
Conclusion
Drone insurance has been a frustrating part of flying commercially for many years. While there are solid options such as Skywatch, it’s nice to have another option to consider. USAIG’s insurance offers comprehensive protection from a solid organization that we think is worth considering.
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