Verifly On-Demand Drone Insurance

Discussion in 'Introductions' started by David Bercovich, Oct 28, 2016.

  1. David Bercovich

    David Bercovich New Member

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    Hi all

    Andy suggested that I should make a post about Verifly. We have launched on-demand drone liability insurance. It's all app-based and will provide $1m in liability coverage starting at $10 / hour. There's no application process but drones must be under 15 pounds when they fly which I know may be an issue for some of you.

    We are looking at larger weight options, so I'd love to hear how large your rigs typically are?

    www.verifly.com

    Happy to answer any questions folks have...
    Cheers
    David
     
  2. Freddie Murphy

    Freddie Murphy New Member

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    My typical setup is around 23lbs. I've taken a look at verifly and thought about using it for smaller operations with an Inspire.

    One thing that has stopped me is the limit around heliports in my city. One job I had was right next to one. I understand that the limits are mostly in line with the recreational drone laws. I'd love to be able to submit my license number for review to have a little more free reign with where I can fly. Maybe have a second commercial option?

    Overall I'm excited to see where it goes. I'd love to be able to charge insurance as a separate line item for clients instead of paying for 6 months at a time and hoping that I get enough gigs to cover it.
     
  3. David Bercovich

    David Bercovich New Member

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    Hi Freddie

    Great question. We are actually building that exact solution to the heliport (and other restricted airspace) exclusions. Within the next few weeks, we will have a certification system in the app that will enable you to certify that you have the right to fly in that particular area and we can quote and bind coverage.

    In addition, we are launching the following features:
    • $2,500,000 liability limit policies
    • 4-hour and 8-hour policies
    • Half-mile radius coverage area
    • Certificate of Insurance Membership to show clients in advance of a job
    We also hope to cover larger drones one day so stay tuned on that front.

    Cheers
    David
     
  4. Freddie Murphy

    Freddie Murphy New Member

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    That's awesome! Once larger drones are covered, I'm switching over.

    Any plans to offer a hull/payload insurance option?
     
  5. David Bercovich

    David Bercovich New Member

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    We have received LOTS of interest in hull / payload coverage so we are working on ways to do that. When you fly your inspire, what's the total value you'd be looking to cover?

    Cheers
    David
     
  6. Mark Hoffman

    Mark Hoffman Member

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    David
    I would think most of us would be more interested in hull/payload coverage for an Alta/Movi carrying a Red Epic or Alexa Mini which would be in the 50K range.
    My Inspire, although not cheap as chips, won't break the bank if it goes down. That being said hull coverage of 5K would probably be enough for most Inspire setups.
     
  7. David Bercovich

    David Bercovich New Member

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    Mark,

    You've really hit on the key point there. The most important use-cases for hull are the larger, more expensive drones. So, we are looking to cover the larger more expensive rigs both from a liability and hull cover perspective over time.

    Cheers
    David
     
  8. Freddie Murphy

    Freddie Murphy New Member

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    I agree with Mark and David. I'm not really interested in hull coverage for the inspire. If it goes down, I'd just buy a new one. Although the new Inspire is a lot more pricy. So maybe 9k in hull coverage for the Inspire 2.

    For my large drone, I'd be looking at between 9k and 55k for hull/payload depending on the camera setup.
     

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