StartUp NewsTechnology

US Startup Verifly Launches On-demand Drone Insurance

  US drones are now safe with Verifly!

Unmanned aerial vehicle use in the U.S. has now been insured via Verifly. It is available to drone users with a new mobile app and service that has been under construction since 2014.

According to a press statement, over half a million drones that weigh more than half a pound has been registered with the U.S. Federal Aviation Administration since December 2015. This was when registration was made mandatory. While regulations are still evolving, the FAA also set new rules for small UAVs in June that industry insiders are saying will bring even more drones into domestic airspace.

This growth of the UAV industry makes even more space for insurance for the same.

Verifly’s Move

Verifly sends drone operators insurance on-demand. The company’s co-founder and CEO Jay Bregman said that he and co-founder and CTO Eugene Hertz wanted to design something simple, easy to use and tailored to the particular type of risk associated with flying a drone.

The Verifly app draws a quarter mile circle around users, analyzes information from the startup’s weather databases and shows the user their estimated risk. It then sets a price for the drone pilot on a policy that they can buy on-the-spot.

On agreement of the price, users pay with a credit card to get $1 million in third-party liability coverage with $10,000 of invasion-of-privacy coverage.

Would you like to ensure your drone? Please share your thoughts in the comments section below.

Related Article: TEAL: THE WORLD’S FASTEST PRODUCTION DRONE

Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below:

Loading
Comments

The Author

Startup-Buzz Team

Startup-Buzz Team

Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

Previous post

5 Things That Women Entrepreneurs Can Learn From Hillary Clinton’s Acceptance Speech

Next post

Uber Decides To Endow In 4 European Startups