Are you thinking of purchasing a drone?
Already have a drone for recreational use?
Do you know if you have the coverage you need?
As drones continue to become more popular, owners need to think about the risk they are taking by using them. Drones are classed as aircrafts and, while the ISO Homeowners Policy specifically excludes aircrafts, it does make an exception for models or hobby drones.
The H0-3 policy covers model or hobby drones for damage caused by fire, lightning, windstorm/hail, theft, etc. However, there will be no coverage for mechanical failure.
The policy also has an aircraft liability exclusion, but again there is an exception for model or hobby aircraft. As long as the use of the drone is for recreational purposes and not for business, there is coverage for bodily injury and property damage caused by the drone.
However, there is a new optional HO 34 02 endorsement that, when added to the policy, excludes coverage for unmanned aircraft under "aircraft liability." This includes model or hobby aircraft.
Drones often are equipped with cameras, which can create a privacy issue. Insured's could find themselves embroiled in a lawsuit if they post photos or videos (e.g., on social media) that violate another person's right of privacy.
There is a new endorsement, HO 34 03, that, when added to the policy will exclude unmanned aircraft for personal injury coverage.
While drones can be fun, they also can lead to a myriad of headaches for the owners, if owners are unaware of certain endorsements that have been added to their homeowner's policy.
Give us a call today to discuss drone coverage 845-265-2220.