Transport Canada requires that you to carry a minimum $100,000 liability insurance regardless of whether you are using the drone for recreational or commercial purposes.
If you are using the drone for recreational purposes, the insurance cost can be costly. You should consider joining an association such as a model UAV club that can offer insurance to it’s members. Be aware of the rules that may require you to fly with a chartered club and at sanctioned events. Otherwise, there may be no coverage. You also have to factor in the association membership fee.
If you are using the drone for commercial purposes, you can purchase $500,000 liability or $1,000,000 liability. Below are premium indications for aerial photography including inspection (for realtors, property owners etc) in Canada using a small UAV such as the DJI Phantom 2.
$500,000 liability ($500 deductible) – Annual Premium $770.00 plus taxes
$1,000,000 liability ($500 deductible) – Annual Premium $990.00 plus taxes
Coverage such as fire and theft can be purchased as well at an additional premium. However, the deductible is $1,000 and may not be worth it when a drone can be purchased for as little as $500.
Drone Insurance Quote
Transport Canada created new rules in November 2014 that determine whether you need permission to fly an unmanned aircraft. Transport Canada requires you to carry a minimum $100,000 liability insurance. Do I Need Liability Insurance For My Drone? Transport Canada...