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Renters Insurance Cover Drones?
4745 12 2017-4-3
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VincentSal
lvl.1
Flight distance : 1373146 ft
United States
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I have read the thread of purchasing insurance for drones.

I currently have a Renters Insurance Policy through Progressive, reading through the documents; below was what I found.
Let me know what you guys think. I do have a few more endorsments than thoose listed below. Premium is $262 w/$500 deductible.

Personal Property Coverage:
Coverage C
Personal Possessions (Coverage C) covers damage, destruction or theft of your personal property. Personal property includes items like clothing, appliances and furniture. There are special limits for certain items including (but not limited to) money, jewelry and silverware. If you have items valued above these special limits, such as an engagement ring, consider additional coverage specifically for these items. Drones are personal property.Replacement Cost on Personal PropertyWhen you purchase this endorsement, you can replace stolen or destroyed personal property with items of like kind and quality without deduction for depreciation.That sounds good to me.

Personal Liability:Coverage EPersonal liability or (Coverage E) pays for loss settlement and legal fees in the event that an insured party causes bodily injury and/or property damage to others. For example, if you accidentally bump into and injure someone at a grocery store he or she might sue you for their pain and suffering, medical expenses and other damages. Your Personal Liability coverage would cover the loss settlement amount and legal fees, up to your coverage limit, if the loss is determined to be covered under the terms and conditions of your policy.If I crash into someone's window and they catch me, this should cover the damages.
2017-4-3
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FeariTself
lvl.4
Flight distance : 195151 ft

United States
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Not sure but I just setup insurance through state farm for my P4 pro. Full coverage, no deductible and only 60$ a year. If I crash or anything happens to the drone they will write me a check for $1500. Which makes dji's 200$ warranty and horrible customer service look like a awful choice.  
2017-4-6
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DroneFlying
Captain
Flight distance : 10774613 ft
United States
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Let me know what you guys think.

You might be covered, but I think it would be best to check with your insurance company and find out for certain instead of possibly being surprised later. What kind of deductible do you have with that renter's policy?
2017-4-6
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DroneFlying
Captain
Flight distance : 10774613 ft
United States
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FeariTself Posted at 2017-4-6 17:12
Not sure but I just setup insurance through state farm for my P4 pro. Full coverage, no deductible and only 60$ a year. If I crash or anything happens to the drone they will write me a check for $1500. Which makes dji's 200$ warranty and horrible customer service look like a awful choice.

Which makes dji's 200$ warranty and horrible customer service look like a awful choice.

Not necessarily. Filing a claim against a personal articles "drone" policy can result in higher premiums even on policies with other companies, in which case paying just $79 to get a replacement seems pretty appealing. On the other hand, if you don't manage to recover the aircraft -- as some people don't -- then Care Refresh is useless. That's why I have both Care Refresh and a policy through State Farm.
2017-4-6
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FeariTself
lvl.4
Flight distance : 195151 ft

United States
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DroneFlying Posted at 2017-4-6 17:39
Which makes dji's 200$ warranty and horrible customer service look like a awful choice.

Not necessarily. Filing a claim against a personal articles "drone" policy can result in higher premiums even on policies with other companies, in which case paying just $79 to get a replacement seems pretty appealing. On the other hand, if you don't manage to recover the aircraft -- as some people don't -- then Care Refresh is useless. That's why I have both Care Refresh and a policy through State Farm.

We've had auto, home, and life through them for several years and our agent said that they pride themselves in not jacking up their rates if a file were claimed but I've never had a insurance claim in my life so I wouldn't know. 60$ a year seems like a good deal to me. I wouldn't want to send my drone in to dji, based off what I've heard, anyways.
2017-4-6
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DroneFlying
Captain
Flight distance : 10774613 ft
United States
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FeariTself Posted at 2017-4-6 17:51
We've had auto, home, and life through them for several years and our agent said that they pride themselves in not jacking up their rates if a file were claimed but I've never had a insurance claim in my life so I wouldn't know. 60$ a year seems like a good deal to me. I wouldn't want to send my drone in to dji, based off what I've heard, anyways.

60$ a year seems like a good deal to me.

I agree. In fact, I suspect that in the not too distant future State Farm will increase the cost because (as pointed out later in that same thread) the current premiums seem to be based solely on the coverage amount and not on any actuarial data that reflects the likelihood of a claim against a drone policy. In other words, State Farm seems to consider the likelihood of needing to replace a drone to be the same as the likelihood of needing to replace, say, a piece of jewelry. I wish it were so.

I wouldn't want to send my drone in to dji, based off what I've heard, anyways.

I understand, though they do seem to have improved somewhat lately.
2017-4-6
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geofox784
lvl.4
Flight distance : 1482175 ft
United States
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For those that don't know about insurance through State Farm, you can get your drone insured through their PAP (Personal Articles Policy) for (usually) $60 a year and no deductible. It will cover both lost / stolen as well as accidental damage (crash). Unlike refresh it does not require you to have the drone to make a claim, can be renewed each year, covers accessories, has no 48 hour limit, and you get a brand new drone (no repairs or refurbished).
The only problem is that each agent and underwriter has their own discretion, so many people need to all around before finding one that will write the policy.

Tons of great info here: https://www.reddit.com/r/drones/ ... rm_insurance_guide/

Here is a user submitted list of agents who have written UAS policies so they already have experience. https://docs.google.com/spreadsh ... edit#gid=1180163488
2017-4-7
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DallasWorrell
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United States
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If you are renting a home, an apartment, a villa, or a condo, it is important to know that while the property’s owner has insurance coverage to protect their investment - which is the structure itself - your belongings are not covered under their plan. It is your responsibility to make sure you have the insurance coverage you need to cover the costs of your personal property in the event of a break-in, fire, flood, or other disaster.
I am not sure about the personal items or stuffs covered in the rental insurance, since the things may differ according to the insurance company's policy. I would rather suggest to take multiple quotes from different insurance companies, and then look out for the best suits according to needs and requirements. Take some help from Internet to get more information about it.
2017-4-21
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rydfree41
Second Officer
Flight distance : 153268 ft
United States
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Home owners and renters insurance will cover your articles if they are stolen or lost due to fire , flood etc  but only within that location . Usually renters insurance only covers a loss if it is stolen or damaged from within the apartment . I seriously doubt they would cover a drone crash even if it were inside the apartment .
2017-4-22
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VincentSal
lvl.1
Flight distance : 1373146 ft
United States
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I contacted Progressive (my renters insurance provider) they said my current policy would cover my drone if i damaged it and or caused damage to property.  
2017-4-28
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fansc15dc5fd
lvl.1
United States
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When I looked into this a couple of months ago, progressive policy excluded such things as damage due to falling or water damage. So I had to switch to State Farm. They do not even require the remains in case of crash and cover losses/flyaways.
2017-4-28
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chivalryreattac
lvl.1

Bangladesh
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DroneFlying Posted at 2017-4-6 18:31
60$ a year seems like a good deal to me.

I agree. In fact, I suspect that in the not too distant future State Farm will increase the cost because (as pointed out later in that same thread) the current premiums seem to be based solely on the coverage amount and not on any actuarial data that reflects the likelihood of a claim against a drone policy. In other words, State Farm seems to consider the likelihood of needing to replace a drone to be the same as the likelihood of needing to replace, say, a piece of jewelry. I wish it were so.

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