How much should your drone insurance cost?

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Whether you're orchestrating drone light shows, aiding construction through aerial mapping, shooting cinematic masterpieces, or simply flying drones for fun, insurance is an essential consideration. As drone technology continues to advance, its use cases diversify across various industries. While the need for insurance unites these applications, the scope and cost of coverage can vary significantly. Wondering how much to budget for drone insurance? The answer largely depends on your unique coverage needs.

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Recreational Drone Insurance ($0.5M) 

Just got a new drone and looking to test it out at a nearby park? In that case, you are likely looking at a lower coverage limit. Recreational policies can be purchased for less than $50 a month, or even lower if purchased by the hour.

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A monthly SkyWatch policy with $0.5M coverage is priced at $42 per month and will keep you covered 24/7 across the nation. On-demand coverage can be purchased for as little as $6 by the hour, depending on the exact flight location. Users may also select an annual plan for $466, and remain covered for Liability all-year round. 

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Standard Drone Insurance ($1M) 

Real estate photography, event photography and surveying jobs at empty sites are prime examples of operations that require a standard Liability plan. The most common limit used for these operations is $1M per occurrence, which can cost around $80 per month.

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SkyWatch.AI $1M Liability policies start at $62 for the entire month and can be purchased by the hour for an average of $14, depending on the flight zone. If your business operates throughout the year, you may opt for an annual plan which starts at $750, and includes discount opportunities for pilots without a claim history, as well as lower Hull rates for pilots looking to insure their drone for physical damage on top of the Liability coverage. 

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High Liability Drone Insurance ($2M - $5M)

Drone pilots working in the TV & film industry, as well as other high-profile jobs, are typically requested by contract to obtain drone coverage for $2M and up. The monthly rate for these operations averages between $100 to $250, depending on the exact limit specified by the client or production company.

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Users can purchase monthly $2M Liability coverage through SkyWatch for $108 per month and maintain coverage for the entire 30 days. Hourly coverages average at around $25 per hour, making a monthly plan more attractive for pilots operating for over 4 hours a month. An annual SkyWatch plan with $2M coverage starts at $1,131 for the year. 

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High-Risk Drone Insurance

For complex operations involving a fleet of drones, such as light shows or deliveries, a customized insurance quote is essential. Annual rates for these specialized activities start at $4,000 and are tailored to your specific operational needs. SkyWatch users can complete a specialized application to receive a custom quote tailored to their complex operations.

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Flexible Drone Insurance

While your work industry provides a baseline for your insurance costs, it's crucial to note that your specific coverage terms are often influenced by your client's requirements and may vary. For instance, some real estate photographers may need to show higher-than-standard coverage limits, while certain high-budget productions might find lower limits sufficient. This is why SkyWatch offers the flexibility to make mid-term adjustments to any active plan, ensuring you can seamlessly adapt to each client's needs.

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The Bottom Line

From casual drone hobbyists to professional cinematographers, the need for drone insurance is universal yet diverse in scope and cost. Whether you're flying for fun or fulfilling a high-profile contract, SkyWatch offers a range of customizable insurance plans to fit every pilot's unique requirements. With options from hourly to annual coverage and the flexibility to make mid-term adjustments, we're here to ensure you fly with peace of mind, no matter the mission.