COVID-19 Is Changing Everything, Even Drone Insurance Rates

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COVID-19 Is Changing Everything, Even
Drone Insurance Rates
COVID-19 is changing everything and a new report by one of the
nation's leading drone insurance brokers is highlighting the COVID-19
effect on drone insurance rates.
One of the most prominent effects of the COVID-19
pandemic is the new term of social distancing and the
major effort to keep distance between people, to slow the
spread.
Social distancing has been very tough for some
people and industries but has had an opposite effect
on the drone industry.
Drones are remotely controlled and can
perform many tasks from a far distance
which is the exact type of tool that the
world needs when trying to maintain a
safe social distance.
As a result of COVID-19, the drone
industry is experiencing a windfall
and surge in sales worldwide.
Drones were already being developed and being used prior to
COVID-19 and experiencing record growth.
Of course, the safety net and
stability that powers commercial
drone innovation is the drone
insurance industry.
Further, new and innovative commercial drones are
increasingly costly with newer and advanced
equipment like thermal imaging cameras,
mechanisms for payload and delivery and even
someday, passenger transportation drones.
The drone insurance industry provides hull damage coverage as well,
which is meant to repair or replace these higher priced drones in the
event of loss or damage.
Without this insurance coverage, again
after a few drone accidents or crashes,
the cost to repair and rebuild would
hinder innovation and widespread
adoption.
Drone insurance rates which are a
key aspect of the drone industry will
be impacted by COVID-19
according to this new report.
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