Droning On About Drone Insurance

Today I saw my first bank with a drone insurance policy.  I have been waiting for this to happen.

If your financial institution owns a drone or an employee is using their personal drone in bank business you probably need to make an adjustment to your liability insurance program.

Most general liability and umbrella liability policies include an exclusion for owned aircraft. Some exclude all events involving any aircraft. A drone is an aircraft, therefore, no coverage if your drone hurts someone.

The bank I mention above has a separate policy providing $1,000,000 of liability coverage.  The cost is about $750.

I’m not sure if we can get the umbrella carrier to provide excess coverage.  We will see.