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Many businesses today are making use of drones for a wide variety of purposes, so it’s important to know your options for cover. Drone insurance in Australia can cover not only your drone if it’s lost or damaged, but liability in case a third party’s property is damaged or other liability claims arise from your business drone use.
You can compare a range of quotes for commercial drone insurance online right here with Savvy. Our quick and simple process will help you find the cover you need from respected insurers in just a few minutes. Get the protection your business needs today with an obligation-free quote.
Drone insurance covers risks associated with the commercial use of drones, which are now also referred to as unmanned aerial vehicles (UAVs) or remotely piloted aircraft (RPAs). It will cover the costs associated with the following situations:
Many drone insurance policies only cover the commercial use of a drone in a business setting, although there are policies available that can cover recreational usage.
Drone insurance is an area of business insurance primarily consisting of two types of coverage. They are:
Public liability
Public liability insurance covers businesses against the possibility of injuring someone (a third party) or causing damage to their property. This could be directly, such as your drone hitting a person, or indirectly, with injuries or damage caused by your inadvertent or indirect action.
For example, a drone’s payload could fall on someone from a height, or a low-flying drone could distract the driver of a moving car, which results in a crash indirectly caused by your drone operation. Drone insurance can offer up to $20 million in public liability coverage in case of a claim made against you.
Equipment insurance
Equipment insurance is coverage up to an agreed value which will cover the loss or damage to your drone, equipment you use to operate the drone or goods or assets you carry using the drone. These include:
The amount of insurance coverage you’re able to access for equipment damage will depend on what sort of payload your drone will carry and the value of those cameras and equipment. Naturally, the more expensive the equipment to be insured is, the higher the cost of your premiums
In addition to the above areas, drone insurance can cover such items as:
It’s very important to keep up to date with drone legislation, as it’s a field that is rapidly changing as drone technology advances. Not adhering to drone air safety regulations could render your drone insurance invalid, such as if you were flying your drone in a prohibited area, above a crowd of people or breaking flight safety regulations in any other way.
Generally, drone insurance won’t cover you for:
When considering whether you need this type of business insurance, look at the other insurance policies you may already have in place (such as business assets or general liability insurance) to make sure you aren’t already covered or paying for insurance you don’t need.
You can compare quotes for your business’ drone insurance needs right here with Savvy to help you choose the best deal with more confidence. By comparing offers, you can be safe in the knowledge you’ll be covered in the areas which need covering.
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Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
