Verifly (Thimble) insurance to end drone coverage on March 24

Verifly, which was one of the first companies to offer on-demand insurance to drone pilots, has announced it will be shutting down on March 24, 2023.

New York-based Verifly was founded in 2016 as a provider of on-demand liability insurance for commercial and recreational drone flights. It used mapping technology and real-time conditions to advise drone operators of potential risks through a simple, easy-to-use app. Verifly’s policies, underwritten by Global Aerospace for up to $10 million, allowed users to fly in a radius of up to two miles for as long as eight hours.

Over the years, the company expanded its product range to serve other small businesses and independent workers with short-term insurance products. 2019 was a big year for Verifly, when it rebranded to Thimble supported by a $22 million Series A funding round.

Earlier this month, the drone insurance app was updated to include a pop-up announcing that Verifly will be shutting down and will no longer be selling policies on and after March 24, 2023. Users can still access their past purchases though by logging into their accounts here.

And if you are someone who’s looking for a Verifly alternate, you may want to check out SkyWatch. The app-based drone insurance company has been providing flexible insurance coverage to thousands of commercial drone pilots in all states of the US (except New York) since 2018.

Coverage includes all drones under 55 lb., property damages, invasion of privacy claims, and bodily Injuries. You can also opt for hull coverage for drones and mounted equipment. Moreover, SkyWatch offers indoor coverage for commercial missions and extended coverage solutions for advanced operations.

The point remains, any time you take a flight, regardless of your piloting skills, there is the potential for something to go wrong. Drone insurance is the best way to be prepared.

Read: SkyWatch data reveals DJI, Autel, Skydio market share; escalating drone prices