On Demand Drone Insurance from Verifly


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1 hour ago, RemotelyPossible said:

Very interesting concept, also very scary must look into the fine print on this to see all the details but is definitely intriguing.

I thought the same thing. When I clicked the "Fine Print" button in the app it brought me to a simple FAQ section on the website. Not sure if that is a coding mistake or if that is their "fine print". I emailed them to find out more.

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Glad this thread is going on. I was wondering about this too. It looks a little too easy and low priced to be true. Digging into their page I found this 

 

Quote

Is Verifly an insurance company?
Verifly is an insurance producer. Like a matchmaker - we connect you to the best insurance policy for your flight. We are not an insurance company ourselves. Your policies are underwritten by Global Aerospace, Inc. and backed by its pool of insurance companies that represent some of the most secure and respected names in the business. Global Aerospace has been providing aviation insurance for over 90 years.

 

Anybody tried the insurance yet? 

 

Kam

 

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  • 2 weeks later...
On 8/18/2016 at 6:47 PM, Alan Perlman said:

Love the innovation happening in the insurance industry. Verifly has done a good job with PR. I think they're cornering a sizable niche of sUAS operators in the industry. Curious to see how well they do! I'm impressed so far.

This is such a great innovation! An easy to use Drone insurance on demand. How Drone professionals wouldn't be impressed with this Service!!

Is the Service available in Canada as well? I've just found out the services are currently not available in Brazil.

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The concept for Verifly is very intriguing - and I was excited to give it a try. The idea of on-demand insurance is extremely attractive, especially for a new business like mine, as a viable way to cut costs without sacrificing necessary coverage. Unfortunately, the Verifly app insurance policies are limited by the same geofencing issues that you find on some RTF drones - in my case, I can't buy insurance using the app in the vast majority of my home city (including my own backyard) because "Oh no! You're too close to an airport".  In the case of my neighborhood, I can't purchase insurance through the app because I'm within a couple miles of a private, grass airstrip, which in my last 10 years operating out of the local airport as a professional corporate pilot, I've never seen used, and can't even identify when I fly over it! Couple that with the hospital's heliport, the local uncontrolled regional airport, and another private strip - 70% of the city is blanketed as a non-insurable area.

I understand that Verifly's policies are likely limited by what they are able to negotiate through their partner underwriters, so their hands are probably tied for now. But Part 107 regulations provide the legal opportunity for responsible commercial operators to safely fly in the vicinity of many of the areas that Verifly is currently restricting. As a responsible operator, I won't risk flying without insurance - so the end result is that I still need to skip Verifly in favor of a conventional policy in order ensure that I have the coverage that I need no matter where I will be legally flying. With a conventional policy in place, Verifly’s product becomes redundant, and therefore the app eliminates itself from competition to win my business as an unnecessary duplicate expense.

Hopefully as underwriters get more comfortable with Part 107 operations, Verifly's coverage areas can get closer to 100% for safe and responsible certified operators, and become useful for more commercial users in general.

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