The FAA, or the Federal Aviation Administration has predicted that by 2020 there will be at least 30,000UAVs /drones in operation for business purposes specifically. To further solidify the prediction the FAA has also begun to implement drastic changes to aviation traffic control procedures to better fulfill the need of the drones once saturation starts to take hold.
Historically what used to be common place - hiring a private aircraft and a private pilot with expensive jibs and camera equipment is now being replaced by UAV/drones, a much less expensive way to capture aerial footage. Although the use of drones is becoming very popular, the rise of drone insurance or drone liability coverage is becoming a hot topic. Insurance Companies that offer this aerial insurance are cracking down on their underwriting guidelines, making the purchasing process more difficult. At MFE Insurance Brokerage we shop numerous different insurance companies on your behalf, giving you more time to focus on your business.
When we talk about UAV/drones we are collectively referring to Unmanned Aerial Vehicles, Drones, Unpiloted Aerial Vehicles, and Remotely Piloted Aerial Vehicles. Although there could be many more names associated with drones the guidelines and talking points are identical. It's within this category that many drone insurance and UAV liability issues are becoming apparent, increasing the need for not only the consumer to be educated but also the insurance agent.
Aviation and Premises Liability Insurance - Protects you against 3rd party bodily injury & property damage claims arising out of the ownership, maintenance or use of a scheduled aircraft.
Also known as physical damage, this protects your drone and the equipmentattached to the drone in the event of damage, loss or theft subject to deductible which can be 5-10% of agreed value.
Protects you against claims arisingfrom but not limited to: libel, slander, invasion of privacy, infringement to name a few. Aerial photographers have a higher exposure to these claims than other UAV/drone operators.
Protects you against liability claims arising out of the manufacture and or distribution of your product.
Means expenses for necessary medical, surgical, x-ray anddental services, including prosthetic devices, and necessary ambulance, hospital, professional nursing and funeral services.
Errors & Omissions (E&O) protects filmmakers andphotographers from lawsuits arising from theft of idea, copyright infringement, libel, slander, invasion of privacy, defamation, product disparagement, trade libel, infliction of emotional distress, right of publicity, outrage and wrongful entry, false arrest or malicious prosecution. Pretty much, issues and claims may arise from the content of the film or frivolous allegations. As an added bonus, this coverage will pay your attorney fees and legal costs in order for you to be acquitted.