![]() ![]() Also, without proper licensing and training for recreational drone operators, the likelihood of accidents can vary wildly as well. Furthermore, new drone models come out all the time, and it is challenging to assess the flight characteristics and risks of failure. Drones are a fast moving product category, and regulators and insurers are working hard to keep pace, though they are still many challenges with underwriting drone risks.Īs a nascent category, there is still quite little data to assess risks. Read Also: Why You Should Say No To That Extended Warranty Option For Your Household Electronic Products Drone Insurance From InsurersĬurrently, property or public liability insurance policies in Singapore exclude coverage for aviation-related incidents, which is where drones fall under, unless they specifically negotiate for drone cover. Then again, if you’re not going to be flying with any regularity, then what are you doing buying a drone in the first place? Starting at $100+ for one year, it is something drone enthusiasts who fly with regularity should consider getting. Normal use include user error, water damage, collision, and signal interference. ![]() It is a protection plan that covers repair costs and up to 2 replacements of your drone (for a small fee) for 12 months. To cover accidental damage sustained from normal use, you can purchase DJI Care/ DJI Care Refresh, depending on your drone model. ![]() This warranty only covers manufacturing defects. If you have a DJI drone, you will get a standard warranty covers most drone parts for 6 months and up to 12 months at best. This is because if you’re going to fly often and make the most of your sunk cost of buying the drone, then the likelihood of crashing does not diminish over time.ĭJI is by far the most popular drone manufacturer by market share among enthusiasts. Read Also: What To Do Before Your Freelance Job Disappears? Extended Warranty Through Your Drone ManufacturerĮven though it doesn’t make financial sense to get extended warranties for regular appliances, its a different situation for drones. But if you do want to insure your asset that costs hundreds (if not thousands) of dollars and protect yourself from liability if you damage other people’s property, what are your options? Let’s find out. Unlike motor insurance, where insurance is compulsory, drone insurance is not mandatory. If you speak to any drone enthusiast, they will tell you that if you fly long enough, is not a matter if you will crash your drone, but when. ![]() Today, you can buy a drone at your local camera or electronics store and get flying in minutes. Globally, the growing commercial drone market is expected to generate about $2.1 billion in global revenue by 2019, with drones being deployed for construction, media, security, humanitarian and research applications.īeyond commercial purposes, advancement in drone technology has brought the size, cost, and complexity of drones down, making them much more accessible to regular Singaporeans. You might see aerial shots taken by drones by your favourite influencer, stumble upon Singapore’s first designated “ drone estate“, or even watch them make a performance debut at last year’s National Day Parade. ![]()
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