The International Drone Racing Association launches insurance to for Drone Pilots
The International Drone Racing Association (IDRA) will launch the first primary UAV Aircraft Liability Insurance policy to cover drone pilots worldwide. Included with the rollout of IDRA’s membership service, each IDRA member will be insured, with a US$1,000,000 UAV Liability coverage limit including operations for Recreational Use, UAS training for competitions, and Racing/Competitions around the world.
“Since 2015, we have wanted to offer memberships to the association; however, it was a necessity to ensure that our memberships carried value and were useful for the member,” said Justin Haggerty, the Founder and CEO of IDRA. “An IDRA member should be able to explain why he or she is a member, even if it is free. It was clear that our first membership service should be a primary liability-insurance to drone pilots around the world. We worked hard to find the right insurance provider and underwriter that supported our goal to offer the lowest possible cost in respect to the designed policy. In short, our goal was achieved. The IDRA team and I are excited to provide UAV Aircraft Liability insurance to protect our members as we continue to grow the drone community.”
Insurance Costs
To lower costs for annual memberships and design a policy that best fits individual needs, there are three categories of memberships, determined by the quantity of drones owned and to be insured. Nevertheless, each policy provides US$1,000,000 UAV Aircraft Liability per occurrence.
$165 – 2 Drones
$215 – 3 Drones
$265 – 4 Drones
IDRA can structure policies on an individual basis, for those members who wish to insure more than four drones. It is important to state that this IDRA Insurance Policy does not cover the commercial use of drones, only to fly recreationally, train for competitions, and compete in events. In the insurance industry, commercial drone policies are designed on an individual basis to correlate with the risk associated with the commercial operation, such as Commercial Aerial Photography.
Compliance with Regulations
Pilots must adhere to IDRA Rules & Regulations, which includes our Safety Manuel, and comply with government regulations to be covered for liability claims.
“We want to establish a culture of safety and compliance within the drone community,” said Justin Haggerty, the Founder and CEO of IDRA. “We believe that IDRA’s insurance and membership service will help achieve that goal. Auto insurance is the same way, a driver who runs a red light will not be covered for liabilities, because he or she failed to comply with traffic safety laws and regulations.”
Event Liability Insurance
Additionally, IDRA will offer Event Liability Insurance to race organisers around the world (not excluding other types of drone-related events). IDRA event insurance, available at $200, is a $2 Million policy for liabilities. Our team worked hard to get the cost down to best match the available budget of smaller race organisers. With IDRA event insurance, the event will operate with our Rules & Regulations, Safety Manuel, and Risk Assessment to ensure a safe and successful event.
“To grow the sport, IDRA needs to help and protect individual race organisers,” said Justin Haggerty, the Founder and CEO of IDRA. “Race organisers, like startup manufactures, are the small businesses of our sport and have the most direct relationship with pilots. It is through partnerships with smaller race organisers, that IDRA has the opportunity to introduce new people to the technology and grow the community.”
About our IDRA Aviation Insurance Broker: AVION Insurance is an aviation insurance speciality broker that has been placing and servicing aviation insurance risks for over 30 years. AVION has earned a superior reputation of negotiating optimal terms of our clients, strengthened by our strong relationships with every major underwriter in the industry.
About IDRA: The International Drone Racing Association (IDRA) is a for-profit association founded on the belief that competition drives innovation, and that drone racing is the next evolution of robotic competition. IDRA believes in growing this awesome new industry by organising historic drone racing competitions such as the California Cup, North America Cup, Challengers Cup and the World Drone Prix. The IDRA’s core mission is to grow this amazing community of tinkerers, dreamers, and innovators.
About Drone Racing: UAS/Drone racing is a worldwide sport that utilises Unmanned Aircraft Systems (UAS) and Virtual Reality (VR) technology to allow a new breed of innovators to compete on the international stage. There are roughly 100 drone competitions in the U.S. annually and 200 worldwide competitions, highlighted by the World Drone Prix in Dubai that awarded the first ever $1 million, to a 15-year-old from the United Kingdom, in 2016.
