Companies In The Drone Insurance Market Are Developing Advanced Solutions

Drone Insurance Market Report 2021: COVID-19 Growth And Change

Drone Insurance Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Drone Insurance Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, February 23, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Read More On The Global Drone Insurance Market Report: https://www.thebusinessresearchcompany.com/report/drone-insurance-global-market-report

The launch of different and innovative insurance products is among drone (UAV) insurance market trends gaining popularity in the drone insurance market. Major companies operating in the drone insurance sector are focusing on developing advanced solutions for drone insurance. For instance, in June 2020, India-based insurer HDFC ERGO has collaborated with TropoGo, a broad tech start-up, to introduce Pay as you fly insurance for drone operators in India. This insurance policy can include coverage to commercial drone owners and users for third-party liability actions for property damages and bodily injury.

Other major players with drone insurance industry shares are Allianz Global Corporate & Specialty, AIG US, Avion Insurance, Driessen Assuradeuren, Coverdrone, SkyWatch.AI, Flock, CapriCMW Insurance Services Ltd., Hub International, and Air1 Insurance.

The global drone insurance market size is expected to grow from $1.06 billion in 2020 to $1.13 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth is mainly due to the increased operations of drones during the COVID-19 pandemic. Also, commercial activities are resuming, which has also increased drone operations. The market is expected to reach $1.41 billion in 2025 at a CAGR of 5.9%.

Drone insurance is the insurance that covers the costs associated with accidental bodily harm or damage caused to property or any assets due to drone operations. Drone insurance also covers the cost associated with damage in drones. The drone insurance market covered in TBRC’s report is segmented by coverage type into liability coverage, hull damage, theft coverage, loss or flyaway coverage, payload coverage, personal injury coverage, ground equipment coverage, others, by pricing into hourly, monthly, annually, and by application into commercial, personal, others.

Drone Insurance Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides drone insurance market overview, forecast drone insurance market size and growth for the whole market, drone insurance market segments, and geographies, drone insurance market trends, drone insurance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

Request For A Sample Of The Global Drone Insurance Market Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=3888&type=smp

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Source: EIN Presswire