Its time to fill-up the application form and protect yourself and your drone from any liabilities. AIG one of the leading insurance agency us now entering the drone boom by offering insurance to owner of high end drones. According to the company Drones weighing up to five pounds with a wingspan of up to three feet are covered.
The company aims to protect operators of UAV (drone) from liabilities, regarding collisions, technical problems and other issues that may arise related to the use of drones. Somewhat like an aviation insurance framework but only specific to unmanned aerial vehicle.
As more and more drones will be introduced to the market, and more users use it in different industry such as agriculture, (see article. Expect that there will be accidents and technical problems that will arise with the drone, this where the AIG enters the arena.
AIG is not the only company offering insurance to drones, several companies are already creating framework in providing insurance to drone users.
See AIG Insurance coverage details
Policy language drafted specifically to respond to the exposure of unmanned aircraft.
- Coverage for aircraft operators, including other non-pilot, on-ground crew
- There is NO exclusion for loss arising from electronic malfunctions and failure of electronic components, accessories and power equipment (Such and exclusion is standard on manned aircraft policies)
- Coverage is flexible, with terms and conditions customizable to individual needs.
- Physical damage to the aircraft itself, along with installed, or carried equipment, and ground control units can be provided.
- Third party liability
- War, Hi-Jacking and Terrorism