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There's a startup offering $1M in liability insurance to drone pilots for just $10 per hour

Drone photography is getting more affordable by the day. But it’s not always the drone itself you should be worried about in terms of the impact on your wallet.

Accidents happen, and the last thing you want to do after getting your new gadget is pay for damage caused by a drone when you accidentally crash into someone’s condo window or drop a drone on their dome.

To help protect your pocketbook, a new service called Verifly is looking to change the drone insurance game. Rather than an annual policy, Verifly works on an hourly basis, making for a convenient on-demand insurance option.

Verifly-iOS-Certificate

With this hourly insurance, Verifly offers $1,000,000 in liability coverage and $10,000 in Invasion of Privacy coverage to drones under 15 pounds, which should protect you in case your drone injures someone, damages a piece of property, or accidentally sees something it’s not supposed to. It’s worth noting though that the insurance doesn’t cover equipment, meaning you’ll either pay for your damaged drone out of pocket or need a separate policy protecting your gear.

Related: When African doctors can’t reach sick people, they send this drone to help

As for how much you’re paying, that depends on the location where you’re flying your drone and the current weather conditions. Rates start at $10 an hour and can increase after Verifly’s geospatial mapping technology determines how likely it is to have a safe flight.

To ease the concerns of anyone who thinks this could be a fraudulent service, Verifly’s policy is backed by Global Aerospace, Inc., an aviation insurance provider that’s been around in some form or another for over 90 years.

To find out more about Verifly’s service, head on over to the company’s website, or download the Verifly iOS and Android app.