Today’s episode is all about drone insurance. We received a call from JP in North Carolina, who wants to know if he needs drone insurance and if we had any tips about purchasing it.
Luckily, we were able to bring our friend Joe Ernster on this episode to speak with us about drone insurance. Joe is a UAV insurance expert working at the Bullock Insurance Agency. We talk to Joe about all aspects of drone insurance, from pricing to filing claims. Whether you’re a hobbyist or a professional drone pilot, it is important to understand drone insurance and how it works. You won’t want to miss this episode!
Bullock Insurance Agency is offering FREE INSURANCE QUOTES to all Drone U members! Make sure to take advantage of their offer while it lasts!
Thanks for the question JP! Fly safe!
More info on drone insurance is available at the Bullock Insurance website.
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[00:45] Today’s questions is about drone insurance
[01:42] Paul introduces Joe Ernster from the Bullock insurance agency to the listeners
[02:28] Joe shares how the insurance industry for unmanned aircrafts has simply exploded in recent years
[03:28] Understanding the importance of getting liability insurance
[03:52] What is a cost effective way of getting your backup drone insured?
[04:24] What is whole insurance? What does it normally cost?
[05:01] Would providing drone services to low risk segments such as agriculture result in reduction of insurance premium?
[05:20] Is it important to find a good aviation insurance broker?
[05:34] Does extensive flying experience results in reduction of insurance premium?
[06:53] What is the industry standard as far as insurance policy coverage is concerned?
[08:26] Would a standard UAV policy cover loss due to theft?
[09:52] Learn how you can get in touch with Joe to get your drone insurance
[11:45] Joe shares details about the various insurance options that you can avail
[13:03] Is it possible to get an entire fleet of drones insured?
[14:17] What would be the cost for insuring an entire drone fleet and a single drone?
[15:42] Joe shares some of the challenges with getting insured with Verifly
[18:20] Can you get drone insurance from a traditional insurance provider like Statefarm?
[20:46 ]Joe shares some of the latest changes that are shaping the drone insurance industry
[21:05] Should you negotiate your drone insurance premium?
[23:56] When is the right time to file a claim?
[24:44] How long is the claim process?
[25:23] Does Joe provide business insurance also?