Hiscox Drone Insurance: Is It Right for Your Drone Business?

The use of drones has expanded rapidly, with applications ranging from entertainment to professional services like image capture, monitoring, and deliveries.

However, operating a drone without adequate protection can be risky, both for the equipment and for third parties who may be affected by potential accidents.

With this in mind, Hiscox Drone Insurance is a reliable and comprehensive option for those seeking full protection. This insurance covers not only drone damage in various situations but also offers peace of mind for the operator, whether a beginner or an experienced professional.

In this guide, you’ll learn about the main coverages offered, the contracting process, costs, eligibility requirements, and more. Let’s get started!

Coverage Offered

Hiscox Drone Insurance provides essential coverage to protect the operator and the equipment against adverse situations. This insurance is designed to meet various needs and uses, whether commercial, recreational, or industrial.

By signing up, you can feel assured that your investment in technology and equipment is protected. Below are the main types of coverage you’ll find in Hiscox Drone Insurance:

• Equipment Damage: Accidents happen, and it’s important to ensure your drone will be covered in the event of damage from impact, operational failure, or collision.
• Accessory Coverage: Drones often come with accessories, like cameras or sensors, which can also be covered to avoid loss in case of breakage or loss.
• Liability Coverage: Especially for operations in urban areas or high-traffic areas, this coverage ensures protection against third-party damages, essential for avoiding legal issues.
• Commercial Operations Coverage: Professionals who use drones for filming, inspections, deliveries, and other activities will find this coverage specific for intensive, commercial use.
• Theft and Robbery: Besides damage from accidents, Hiscox Drone Insurance covers theft and robbery, which is particularly useful for operations in high-risk areas.

Each of these coverage options adds an extra layer of protection so that you can operate your drone with confidence, regardless of the type of use.

Contracting Process

Purchasing Hiscox Drone Insurance is a straightforward and practical task, designed to make protecting your equipment quick and accessible.

We know that complex processes can deter potential customers, so Hiscox has created an easy procedure so you can get your insurance without complications.

Below is the step-by-step guide to ensure your drone is covered as soon as possible:

1. Research and Consultation: Visit the Hiscox website or contact an authorized broker to learn about available coverage options and clarify any questions about the product.
2. Choose Coverage: After understanding the options, select the coverage that best suits your operating needs.
3. Submit Documents: Prepare necessary documents, such as the drone’s serial number, flight licenses, and operator certifications, to send to the insurer.
4. Complete the Application Form: Hiscox provides online forms that make the application process fast and secure.
5. Review the Contract: Carefully read through the contract, checking coverages, conditions, and exclusions to ensure everything is as expected.
6. Pay the Premium: Once everything is in order, pay the premium to activate the insurance and start enjoying coverage.

By following these steps, you can insure your drone quickly and efficiently, without hassle or complications.

Costs and Premiums

Understanding the cost of Hiscox Drone Insurance is essential for budgeting and choosing the coverage that best fits your needs and budget.

The premium, which is the annual or monthly cost of the insurance, depends on several factors that vary according to the use and nature of the drone.

These factors determine the exact cost, but knowing them can help you predict and adjust the coverage price. Here are the main elements that influence the insurance cost:

• Drone Model and Value: Higher-value drones with advanced technology typically have higher premiums.
• Purpose of Use: Drones used for commercial purposes, due to frequent use and exposure to risk, tend to have higher costs.
• Operator Experience: Hiscox values experience and certification, which can result in lower premiums for qualified operators.
• Location and Operating Area: The area where the drone is used can influence the price, especially if it includes high-risk locations.

For those seeking savings, a tip is to explore package options, as Hiscox may offer discounts for combined coverage or long-term contracts.

Eligibility Requirements

Not all operators and drones are eligible for insurance, which is due to safety and regulatory reasons. Hiscox ensures that its policy only covers drones and operators that meet certain criteria, essential for ensuring the operation is safe and regulated.

Below are the main eligibility requirements:

1. Operator Certification: Professional operators must provide certifications, such as Part 107 (in the US), for the insurance to be valid for commercial operations.
2. Drone Registration: In many countries, the drone must be registered with regulatory agencies, like ANAC in Brazil or the FAA in the US.
3. Proper Use: The insurance only covers legally permitted activities regulated under civil aviation standards.
4. Drone Maintenance: It’s important that the drone is in good working order for the insurance to be effective in the event of a claim.

By meeting these requirements, you ensure that your drone and operation comply with the terms of the policy.

Claims Process

If an incident occurs during the operation of the drone, the Hiscox claims process is simple and practical to ensure you receive the necessary assistance as quickly as possible.

We understand that in unforeseen moments, having quick and effective support is crucial. Below is the step-by-step guide to file a claim with Hiscox Drone Insurance:

1. Document the Event: Collect evidence of the incident, such as photos of the location, technical reports, and witness statements if possible, to support your claim.
2. Immediate Notification: Contact Hiscox as soon as possible to report the claim and begin the support process.
3. Complete the Claims Form: The insurer will provide a form where you must detail all aspects of the incident.
4. Submit Supplemental Documentation: Depending on the case, the insurer may request maintenance records or operating licenses for the drone.
5. Track the Process: Stay in touch with the insurer and monitor the status to know the estimated resolution time.
6. Receive the Compensation: Once approved, the compensation will be paid according to the terms of the policy.

This process ensures you receive the necessary support quickly and efficiently.

Limitations and Exclusions

It’s important to be aware that Hiscox Drone Insurance has specific limitations and exclusions. These conditions exist to clarify what the insurer does or does not cover, avoiding misunderstandings about covered situations.

Here are some of the main limitations:

• Illegal Operations: Any activity that does not comply with current aviation regulations will not be covered.
• Pre-Existing Damage: If the drone already shows technical issues before the claim, these will not be covered by the insurer.
• Recreational or Non-Professional Use: In some cases, coverage may be limited to commercial operations, especially with policies specific to businesses.
• Modifications to the Drone: Modifications or repairs outside the manufacturer’s standards may void the insurance coverage.

These exclusions are essential to ensure the policy is within safe and regulated operation limits.

Additional Benefits

In addition to basic coverage, Hiscox Drone Insurance includes some additional benefits that add value and make the policy even more advantageous.

These benefits are designed to offer extra support and greater convenience for the operator.

Here are some of them:

• Technical Assistance: If the drone faces technical problems, the insurer’s support can help with maintenance or specialized guidance.
• Legal Consultancy: In the event of legal disputes related to the operation, Hiscox can offer legal support.
• Discount on Training: Operators wishing to improve their skills can take advantage of discounts on specialized courses.
• International Coverage: For companies that operate globally, some policies offer protection in different countries, essential for multinational operations.

With these benefits, Hiscox goes beyond basic protection, ensuring complete support in various situations.

With Hiscox Drone Insurance, you get comprehensive coverage, ensuring protection for your equipment and peace of mind to explore your drone’s full potential, regardless of your use or location.