Cherry Hill, NJ -- (SBWIRE) -- 05/17/2017 -- Skyvuze Technology, a top insurance provider for commercial drone business, wants its customers to be aware of the explosion in popularity in drone use.
"We are seeing a monster increase in popularity in the drone community," said Drew Hoffmann, founder of Skyvuze Technologies. "The explosion can be good and can be bad. We really can't predict what way it'll go. The exposure can lead to new laws and regulations being put in place, more competition amongst our clients and ultimately more and quicker advancements in the physical drone industry. Some of the advancements we've seen just from the drones itself in just a few years are astonishing. We look forward to seeing more powerful and capable drones."
In 2015, the drone industry made an estimated $130 million in sales. That number is expected to be over $1 billion in 2018!
"The increase in popularity isn't gonna be much concern for our clients who have created a successful business plan, but any clients of ours that are underperforming could easily be swallowed up by someone hoping on the bandwagon late, but with a successful business plan from the very start. We hate to see that happen to any of our loyal clients that we've come to build a relationship with over the years but that just how business works sometimes," said Hoffmann.
Currently, there is no law or regulation in the commercial drone industry requiring any kind of insurance policy of any sorts. The influx in drones can lead to a wave of commercial drone companies being created. The more companies that are out there, the more chance of strict regulations being enforced.
"It's our job to make sure our clients are informed of all possible laws being voted and any regulations that can come out of this wave of popularity. Canada has already put in place a minimum of a $100,000 liability policy on commercial drone use."
For more information on any possible law changes or to shop insurance for drones, head over to Skyvuze Technologies website at http://www.skyvuzetech.com or call 855-276-6305.
About Skyvuze Technologies
Skyvuze Technologies is a New Jersey-based UAV insurance agency, currently licensed to do transactions in 45 states. The firm also provides all lines of personal and commercial insurance products; they even offer CPS accidental crash warranties. Skyvuze Technologies specializes in protecting businesses that invest in unmanned aerial vehicles by providing complete insurance and technology solutions.
For more information visit http://www.skyvuzetech.com or call 855-276-6305.