KB Insurance Launches Drone Insurance for Hobbyists, Offering Up to 500 Million Won Coverage

As the number of hobbyist and recreational drone users increases, the market for personal drone insurance is expanding.

On June 2, KB Insurance announced the launch of its 'KB Drone Liability Insurance (Personal)', developed with input from members of the country's largest drone community, DronePlay.

Unlike existing drone insurance products that primarily cater to commercial and corporate users, this new offering is specifically designed for individual users.

In a survey conducted during the product development phase, 98.5% of the 413 DronePlay members surveyed expressed the need for personal drone insurance, and 76.0% indicated a willingness to purchase it.

Key factors considered by respondents when choosing insurance included reasonable premiums and coverage limits. In response, KB Insurance focused on designing a product that lowers premium costs while ensuring adequate coverage limits.

The insurance offers coverage for up to 500 million won, with daily premiums starting at 10,000 won. Annual plans range from 50,000 to 130,000 won, also providing coverage up to 500 million won depending on the plan.

Jae-geun Jeong, Executive Director of KB Insurance's General Products Division, stated, "This product is significant as it was developed based on actual customer feedback, making it a user-participation insurance product. We will continue to develop products that cover various risks and contribute to strengthening the social safety net."