Coverdrone lowers excess for commercial policies

Drone insurance specialist, Coverdrone, has lowered its policy excess for both its commercial and recreational policies.

Coverdrone said its policy excess for both commercial and recreational drone pilots is now £100 or €125.

“We appreciate that having to make a claim is not an ideal experience, and we have therefore been working hard to make sure that we can help in as many ways as possible,” said a statement from Coverdrone.

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A policy excess is the amount of money that a company or person has to pay if they decide to make a claim on their policy. It is a way of accepting a small portion of the risk themselves.

The amount of the excess is specified on a policy. For example, if a company’s drone is damaged during a flight and the cost of replacement or repair is £1,000, they would pay the first part and the insurer will pay the remainder.

Coverdrone said: “It is worth looking at your current policy excess as it can vary from policy to policy, and what may seem like a small policy condition on the outset becomes of great importance when making a claim.”

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