Drone Product Liability Insurance Manufacturers, Distributors & Retailers. Drones are quickly becoming one of the fastest growing sectors of the technology industry. As Drones can be difficult to learn how to fly and command properly, they can also be a challenge for retailers & manufacturers to find product liability coverage for the drones they manufacture, distribute, or service.
As an example of some of the product liability insurance we can provide for Drone Manufacturers, Drone Retailers, Drone Services and Drone Filming Companies, we can insure the following for both operational and commercial Drone uses:
Not for us. As you may not know the growth of Drones has created quite stir in the world. Their speedy adoption into the world and apparent misuse has been the cause of them requiring registration as well as their being banned from several locations due to the risk that follows Drone use. As useful as drones have been in the military and the firefighting sectors, in the hands of unskilled pilots, multitudes of people have been injured by them and millions of dollars in property damage have insured from their misuse, which why most insurers shy away from these types of risks.
Our individual risk team has the knowledge and experience to help protect clients who manufacture, distribute, or service Drones from product liability claims, suits and losses.
You heard that correctly. In June of 2015 ISO, or the Insurance Services Office penned an endorsement called the Unmanned Aircraft Exclusion which was specifically targeting Drones. The endorsement states that Bodily Injury, Property Damage as well as Personal Injury that arise out of the ownership, use, maintenance, and entrustment to others of Unmanned Aircraft (Drones) are excluded from coverage. It goes on to define Unmanned Aircraft: “Unmanned aircraft” means an aircraft that is not: 1. Designed; 2. Manufactured; or 3. Modified after manufacture; to be controlled directly by a person from within or on the aircraft.
Anyone that is responsible for the design, manufacture, sale, repair, use or distribution of a Drone component or end user product. This applies to any business or individual that manufactures his own product or even if the product’s manufacturing is subcontracted out by another operation, even if the operation is overseas.
A Products Liability Insurance Policy is rated on several factors.
Product liability insurance costs for Drones are much like any other liability insurance product. There is no real average rate because they are based on the specific type of product you manufacture, retail or market. There are some products that pose very little potential to cause harm or damage and there are others that have a higher propensity to be risky, and therefore carry higher premiums.
The amount of coverage required can vary, important factors to consider when shopping product liability insurance limits are: How much coverage do my vendors require me to have to stock my product? What do I stand to lose if our Drone manufacturing company is sued? Because Drone injuries and damages can be severe or deadly, you may want to discuss your insurance requirements with vendors or an attorney before making any decisions.
Drone ManufacturersDistributors of DronesDrone RetailersCompanies providing Drone RepairDrone Replacement Part ManufacturersReal Estate Agents Using Drones | Drone Replacement Part RetailersLounges Hosting Drone EventsDrone Airfield OperationsCompetitions for Drone PilotsDrone Videographers |
Because every Drone Product and Drone Operation is different, underwriting a product liability insurance policy for your Drone Operation is complicated. If you need a quote for Product Liability Insurance Coverage, please complete a Drone Product Liability Insurance Quote Request . Castle Rock Insurance Agency currently offers Products Liability Insurance Policy Coverage for Drones in New York, NY, New Jersey, NJ, Illinois, IL, Virginia, VA, West Virginia, WV, North Carolina, NC, Arizona, AZ, Nevada, NV, Hawaii, HI, South Carolina, SC, California, CA, Massachusetts, MA Connecticut, CT and Pennsylvania, PA, Florida, FL, and Texas, TX.