Nationwide Launches Drone Insurance for Farms
PRODUCT: Drone Insurance.
COMPANIES: Nationwide.
BEST RATING: A
AVAILABILITY: Appointed agents and brokers only.
FOCUS: Nationwide’s Drone Insurance is designed for farms and ranches using drone technology or unmanned aerial systems in their operations. It responds to a growing need in agriculture as drones become more common for crop monitoring, livestock management, mapping, imaging and aerial application, while also creating exposures that traditional farm policies do not typically cover.
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“The use of drones across agriculture has grown significantly, increasing the need for protection that addresses both the value of the equipment and the risks tied to operating it,” says Justin Owens, assistant vice president of farm underwriting and sales, Nationwide. “We’re proud to begin offering these new coverage options, which help give farmers confidence to incorporate drone technology into their operations while knowing they have protection in place if something goes wrong.”
COVERAGE DETAILS: Nationwide’s Drone Insurance is designed specifically for farm operations and is positioned as a comprehensive option for how drones are actually used in agriculture today, including monitoring, mapping, data acquisition and application.
Top highlights include property and equipment coverage for physical damage to drones, related to equipment and operational tools; liability protection for damage or injury caused during drone operations, such as aerial imaging, mapping and data acquisition; and aerial application coverage for damage or injury arising from the application of farm chemicals, seed and other covered substances.
UNDERWRITING: Underwriting considerations include the operator’s Federal Aviation Administration (FAA) certifications and any other applicable federal or state certifications, the drone’s make and model, its weight, the area of operation and the specific nature of its use. If aerial application coverage is requested, the operator must also hold the appropriate aerial application licenses.
TARGET: The ideal client is a farm, ranch or agricultural business using drones for operational tasks such as crop monitoring, livestock management, aerial imaging, mapping or applying farm chemicals. It is especially relevant for operations that want coverage tailored to both the equipment investment and the liability risks tied to its use.
COVERAGE AVAILABILITY: Available in any state where Nationwide writes farm business, which is all states except AK, HI, LA, OK, NJ and FL.
CONTACT: Speak to your Nationwide Farm territory manager.
Will Jones is IA editor-in-chief.
