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.
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.”