While the FAA does not require insurance for drone flights, we highly recommend having insurance in case of mishaps with flying drones. When you rent a drone it is your responsibility to use it in a manner consistent with the laws and return the drone in the same condition it was in before rental.
There are two types of insurance for drones.
Liability: One is liability insurance, this will cover your flights in the event of a crash or incident.
Hull Coverage: Hull coverage covers the drone if it is damaged. Typically you must have liability insurance to get hull insurance. The Sensor may also be covered separately if it is a removable sensor.
Check with your insurance provider to see if they cover the drone rental and flights. If they do not, we highly recommend that you have insurance when you are flying drones. We have found that Skywatch.ai offers some of the best options for Drone Insurance.