Drones have become more than just curiosity items in the ever-evolving world of technology; they are now considered vital tools in a variety of fields including inspecting vital infrastructure, taking high-resolution aerial imagery, and gathering accurate data.
However these advantages also come with a greater sense of accountability. Drone insurance is an essential safety net that gives pilots the confidence to enter unfamiliar waters.
As per the Ministry of Civil Aviation's Drone Rules 2021, Section 10, it is completely forbidden to operate a drone in India without having Third-Party Liability Insurance.
A Basic Understanding of Drone Insurance
Drone insurance is a specialized form of financial protection designed for individuals involved in drone operations. It serves as a safety net, offering protection against mishaps, losses, and liabilities resulting from drone flights in India.
Drone insurance covers the following elements:
Third-Party Liability: Mandatory insurance required in accordance with DGCA rules, guarding against third-party claims for harm or damage caused by the drone.
Accidental Drone Damage: Also referred to as hull coverage, this guards against physical harm to the drone itself.
Accident: In the event of a personal accident, this insurance pays for the pilot's medical costs and disability benefits.
Payload coverage: This safeguards the value of any goods the drone carries.
Transit Coverage: Provides security while the drone is being transported.
Beyond Visual Line of Sight: An optional add-on for flights operating beyond the pilot's direct visual range.
Night Flying Coverage: An optional add-on for operations carried out after dusk.
Types of Drone Insurance Available in India
Now that we have a basic knowledge of the types of drone insurance available, let us understand each one of them in great detail.
Third-Party Liability Insurance
This insurance protects drone operators from monetary obligations resulting from harm or damage that their machines may cause to other people or their property.
Consider a drone pilot surveying the sky over a building site. Under third-party liability insurance, the operator would not be held financially liable if the drone malfunctioned and collided with a parked automobile, causing significant damage.
Drone operations in India are obligated to purchase third-party liability insurance. It guarantees adherence to regulations, provides protection against any accident, and shows a dedication to responsible drone use. Annual premiums usually range from INR 5,000 to INR 20,000, though prices can vary.
Online resources such as TropoGo, provides plans from respectable insurers including IFFCO-Tokio, TATA AIG, Bajaj Allianz, and National Insurance.
Accidental Drone Damage Insurance
Hull coverage, sometimes referred to as accidental drone damage, guards against damage resulting from collisions, mishaps, or other covered incidents.
For instance, think about a skilled drone pilot filming overhead shots of a building site. The drone crashes as it unintentionally runs into scaffolding while maneuvering through small places. The pilot would be held liable for the drone's replacement or repair expenses in the absence of hull coverage.
Drone type, usage, coverage limitations, and insurance provider are some of the variables that affect the price of accidental drone damage protection in India. For basic coverage, annual premiums typically vary from INR 7,000 to INR 30,000.
Personal Accident Insurance
In India, personal accident coverage is an essential part of drone insurance. It offers drone operators financial security in the event that they sustain harm, become disabled, or pass away while flying a drone.
Imagine a drone pilot examining a tall structure. An abrupt loss of control could lead to an accident that might be harmful. Thus, medical costs and lost wages are covered under personal accident insurance.
Drone operators typically need to obtain personal accident coverage in order to be awarded contracts by the government and private companies. It fosters trust with partners and clients by exhibiting professionalism and a dedication to safety.
A number of variables, including coverage limitations, experience, and insurer policies, affect the price of personal accident insurance. Usually, annual premiums cost between INR 500 and INR 2,000.
Payload Coverage Insurance
For drone operators in India, payload protection is an essential insurance feature that protects the expensive electronics mounted to your drone while it's in operation. This coverage guarantees that your payload's replacement or repair costs are covered in the event of damage or accidents, avoiding large financial obligations.
The value and kind of equipment being covered, as well as the policies of the particular insurer, all affect the cost of payload cover. Although the typical annual premium can range from INR 5,000 to INR 15,000, more expensive or specialized equipment might need more coverage and increased premiums.
Transit Insurance
Drone Transit Cover offers financial security against unforeseen harm or accidents that could happen when moving your drone. This coverage is essential for responsible drone ownership in India, providing assurance for a range of professional uses.
The price of Drone Transit Cover varies based on your drone's worth, the insurance company, and the coverage limitations. Even though annual premiums typically range from INR 4,000 to INR 8,000, it's important to compare plans to choose which one best suits your needs, particularly if you own an expensive or professional drone.
Beyond Visual Line of Sight Insurance
Drone insurance with BVLOS coverage is an essential feature that protects drones flying outside the pilot's direct line of sight.
Since there is less direct monitoring, BVLOS operations are more risky even though they are more flexible and efficient. In the event of mishaps or other occurrences during such flights, BVLOS coverage offers financial security.
Having BVLOS coverage is crucial for drone operators to minimize potential financial losses and guarantee peace of mind.
Night Flying Coverage Insurance
As the name suggests, night flying coverage is a crucial component of drone insurance that extends protection to operations conducted after sunset and before sunrise. Night flights carry a higher inherent risk due to the decreased visibility during these hours. In the event of mishaps or other unforeseen events on such flights, this coverage offers financial security. It's crucial for operators who fly at night in particular.
This insurance add-on is required for all authorized drone operations that fly at night or beyond visual line of sight (BVLOS).
Frequently Asked Questions
What are the mandatory types of drone insurance in India?
According to the Drone Regulations 2021, third-party liability insurance is required for all drone operators in India. This includes any harm or damage the drone causes to other people.
What factors influence the cost of drone insurance?
The cost of drone insurance varies based on several factors, including the type of drone, its usage, the coverage limits, and the insurance provider. Additionally, optional add-ons like accidental drone damage, personal accident, payload coverage, and night flying coverage can increase the premium.
How can I purchase drone insurance in India?
You can purchase drone insurance through various channels, such as online insurance marketplaces, authorized insurance agents, or directly from insurance companies. It's essential to compare different plans and choose the one that best suits your needs and budget.