More participants are entering the drone insurance sector in India, with New India Assurance, a public sector company, joining the likes of HDFC Ergo, ICICI Lombard, and Tata AIG. The newly introduced insurance product, titled ‘New India Unmanned Aircraft System (UAS/UAV/RPAS/Drone) Insurance,’ offers coverage for a broad spectrum of unmanned aerial vehicles, ranging from large aircraft to solo flying gliders. This coverage extends to drone owners, operators, and manufacturers.

New India Assurance emphasizes the versatility of its product by providing a diverse selection of over 15 add-on covers for customers to tailor their insurance plans according to specific needs within the drone industry. The policy encompasses protection against physical damage and theft of the aircraft. Additionally, it includes coverage for accidental physical injuries to third parties and damage to their property resulting from the drone’s operations.

This comprehensive policy is crafted to encompass various types of unmanned aerial systems, including fixed wing, rotor wing, and hybrid UAS. These systems can be remotely controlled with pilot intervention or operate autonomously without pilot intervention. The intended applications of these aircraft span both military and non-military uses, such as surveillance, geographical and infrastructure inspections, and aerial photography.