I was wondering how much people are paying for the $100,000.00 Transport Canada required liability insurance.
Has anyone here purchased it?
You need to be a member of diydrones to add comments!
This reply was deleted.
I was wondering how much people are paying for the $100,000.00 Transport Canada required liability insurance.
Has anyone here purchased it?
You need to be a member of diydrones to add comments!
Replies
Not sure if this is helpful, but these guys have a pretty low price and meet TC requirements.
http://www.droneinsurancedepot.com/
Check out AVRO Insurance in Vancouver. www.avroins.com AVRO only writes aviation insurance. (since 1978)
For the most part, because you are up against minimum premiums in the $700 to $850 range, you might as well buy $500,000 since the cost is the same as $100,000.
The insurance companies are still sort of making it up as they go along because they don't have historical data to know how much money needs to be put in the pot to pay for future claims. They know the first real significant claim will be when a real airplane with passengers crashes following a mid-air with a UAV that was not supposed to be there. Near misses are being reported regularly so it's just a matter of time. It takes a lot of $800 premiums to pay for an airplane and a couple fatalities. Until the insurance companies have established a large enough reserve to pay for a couple large claims, UAV liability premiums will continue to be about the same as what regular aircraft pay. By this time next year, you will probably be able to buy $100,000 limit for around $550.
David
I haven't, yet.
Seems insurers aren't interested in such a low amount. You'll have to pay for more (I've seen $500 000 to $2 million suggested.)
$800 to $1000 per year seems the ballpark minimum premium.
Calvin Reich of Capri Insurance brokers is knowledgeable (and posts here sometimes).
Here's a useful post as well:
http://blog.flitelab.com/2015/01/08/uav-sfoc-how-to-part-3-insurance/
One poster here has been turned down by insurers because his proposed use or hardware was too experimental or unconventional, so best to keep it conservative at first to build a track record.
George