The Landy Insurance Agency is a NAWRB strategic partner and steadfast supporter of our mission to provide women and women-owned businesses the tools and awareness for growth and success. Dedicated to providing their clients with the utmost service, Landy is experienced in recognizing pertinent industry issues, developments and initiatives. One of the newest topics Landy is working to address is the use of drone technology in the real estate industry. Discover the ways in which drones are changing the industry and what you can do to protect your business when utilizing today’s latest technology.
Drone technology may be more than a fad but rather, an exciting new tool for many real estate professionals to survey, assess and show properties. Laws around drone use are still in developmental stages, if in existence at all. Similarly, drone usage in real estate is new and untested. What is clear is that real estate professionals can put themselves at risk through the use of drones, and the insurance industry has not yet formulated a cohesive response to coverage. Therefore, current policy coverages and exclusions will need to suffice until drone usage is more specifically addressed in E&O and General Liability policies.
The potential for claims is significant, and they are already being made. Consider the possibilities: Invasion of Privacy/Personal Injury, as a result of taking pictures of a person’s activities; Trespassing, in which drones fly over air space designated as private; Property Damage and Bodily Injury, resulting from drones crashing down and injuring either people or property; and other unfavorable scenarios. As insurance industry responses evolve, any business considering drone use should consult not only with local regulations, but also with their insurance professional to prepare for the inevitable “crash landing.” As the industry evolves and innovation accelerates, it is important to always be protected.
John Torvi is the VP of Marketing & Sales at the Landy Insurance Agency, a national leader in providing professional insurance services to real estate firms, appraisers, title agents, attorneys and others. He can be reached at 781-292-5417 or at firstname.lastname@example.org.