A Bird's Eye View of Drone Insurance

Don't be surprised if you find yourself heading into the Drone zone. The Federal Aviation Administration (FAA) estimates more than one million drones will be sold during the upcoming holiday season. Many of them, for the first time, may have to be registered. On November 23, the FAA explained their recent recommendations to the Obama Administration, which includes registering all drones larger than 9 ounces in a federal database. The FAA would like to create the registry by December 20 of this year, which would affect drones sold during the holiday season, as well as the hundreds of thousands that already exist.

Drone owners would only have to register their names and physical addresses, and would not have to pay a fee. The aircraft would have to be marked with a unique number, though not necessarily the serial number, to identify the owner. Apart from registration, there are a number of critical insurance issues to consider ranging from personal injury and property damage to privacy concerns. The National Association of Insurance Commissioners has issued a consumer alert on drone insurance issues.

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