Drone Insurance In recent times, there has been a lot of increase in the use of drones, but many accidents related to it have also come to the fore. So today we will tell you what are the insurance rules in India related to drones and what is covered in it.
In recent times, drones are being used extensively in sectors such as construction, law enforcement, media, entertainment, agriculture, survey and mapping, inspection and surveillance . We know that it is necessary to insure our vehicles, so that in case of an accident, losses can be avoided, but is it necessary in the case of drones as well?
If the drone is being used to bring or carry any essential goods, then who will take the responsibility? Does the insurance company insure drones as well and if yes, to what extent the damages are covered? Today we are answering the questions related to these.
Why is Drone Insurance necessary?
The way the use of drones has increased in the recent times, the accidents caused by it have also increased. On Christmas Day 2022, a delivery drone crashed on the Magenta Line of the Delhi Metro. Due to this accident, not only the drone was damaged, but also the goods were also damaged. In such a situation, who will be responsible for this loss, for this it is necessary to insure the drone.
As per the Drone Rules, 2021, all drones larger than 250 grams are required to mandatorily have third party insurance. The provisions of the Motor Vehicles Act of 1988 apply to third party insurance of drones and in case of damage to life or property. Third party insurance cover protects against liability in case of damage to property or injury to people while flying the drone.
According to Ranjan Jagdale, an insurance advisor associated with LIC, some companies also provide the benefit of crop insurance coverage to farmers under drone insurance. It can help in taking advantage of the data collected and can help in filing claims for crop insurance in case of damage.
These institutions provide insurance coverage
The drone insurance market in India is still in its infancy. However, some institutions offer coverage for the same. HDFC ERGO, ICICI Lombard, Bajaj Allianz and Tata AIG and New India Assurance provide insurance coverage for drones.
