The International Drone Racing Association has condensed its liability coverage into a single policy.
The International Drone Racing Association (IDRA) has created a new condensed version of its drone insurance policy. This makes it possible for pilots to purchase a single policy regardless of the number of drones they have.
This new policy has worldwide coverage for IDRA members and does not have a deductible.
The new drone insurance policy provides $1 million in coverage for $265 per year. Upon purchasing the coverage, the insurance becomes active within 24 hours. It is valid for a full year and provides coverage for all possible liabilities that could occur as a result of recreational drone flying, racing and training. This, provided the pilot follows the Safety Manual guidelines from the IRDA and that he or she complies with legal restrictions within the area in which the operation of the drone took place.
The new version of the drone insurance policy replaces the original which launched a year ago.
The original liability insurance policy for worldwide drone pilot coverage and for recreational drone hobbyists launched a year ago at this time. It was made available to IDRA members. Those members mainly operate their vehicles internationally where they live. According to the association, there wasn’t a single claim made in the entire length of 2017.
IDRA CFO Bonnie Haggerty explained that the association had been in negotiations with a number of underwriters as well as its partner, Avion Insurance. This allowed the liability policy to be simplified so it would function better for pilots worldwide.
The sport of UAS/Drone racing is enjoyed around the globe and uses a combination of unmanned aircraft systems (UAS) and virtual reality (VR) technology.
The IDRA is a for-profit association with a mission to evolve and continue the drone racing industry. This includes the organization of large racing competitions for wide participation. This year, the association will stand behind a number of important races taking place at partnered venues and events, such as the Dutch Comic Con taking place in Utrecht, the South Point Hotel & Casino in Las Vegas, AUVSI Xponential being held in Denver, at the University of Phoenix Stadium in Glendale, the Dover International Speedway in Dover, and the Munhak Baseball Stadeium in Incheon.