Updated: October 16, 2024
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According to MoneyGeek’s research, recreational drones are covered by homeowners insurance. However, a drone isn’t covered if it’s used for business purposes.
Since your drone is considered personal property, it falls under personal property coverage, which protects your belongings against damages such as theft, fire and more.
If your drone accidentally injures someone, you might be covered under your personal liability coverage, which protects you against paying for medical expenses upfront.
Typically, recreational drones are already included in homeowners insurance policies. Be sure to read the fine print of your policy to know which damages are covered.
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Generally, homeowners insurance covers recreational drones under the personal property or personal liability coverage components. Damages that are covered vary depending on the insurance company, but MoneyGeek listed common incidents below.
It’s important to note that your drone will only be covered if it’s operated for enjoyment and other personal purposes. Your homeowners insurance policy won’t cover a drone that’s used for business, even if you own it and store it in your home. It is also wise to adhere to local and state laws when you use your drone recreationally.
Damage or loss to your recreational drone is covered by your homeowners insurance policy’s personal property coverage. Homeowners insurance doesn’t cover drones that are used for commercial purposes. For example, home insurance providers don’t cover drones that videographers use to film outdoor concerts or weddings.
Take time to go through your homeowners insurance policy to know which specific perils are covered and which ones are not.
While homeowners insurance can provide a financial safety net, it’s better to prevent damage or loss to your recreational drone in the first place. MoneyGeek outlines different ways that you can protect your drone and also avoid injuring another individual with it. One way to prevent damage to your recreational drone is by conducting a test run.
Know how to operate a drone
You should understand how to properly control a drone by reading its instruction manual or watching the manufacturer’s tutorial. This will reduce the risk of it accidentally injuring you or a third party.
Do a test run
It’s best to test out your drone in an open space, away from densely populated areas. This allows you to pinpoint any defects while it’s being used.
Monitor weather conditions
Check out the weather report for the day to avoid damaging your drone with rain, hail or lightning.
Insurance companies like State Farm and Hippo offer homeowners insurance. Before purchasing homeowners insurance, MoneyGeek advises homeowners to shop around and compare quotes between insurance providers. Doing so will help you get a policy that best suits your individual needs.
National comparisons show that homeowners pay around $175 per month for homeowners insurance. However, your final rate depends on how many items you own, the value of your home and more. To get a ballpark figure, check out MoneyGeek’s personal property calculator below.
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
Clothes, shoes, bags, belts, hats, gloves, etc.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
