Renter's Insurance?

A pilot buddy who works for a law firm has rattled my cage over renter's
insurance and liability.

Do you renters feel the need to pick up supplemental insurance? If so who
did you use and how much did it cost you?

Here's his comments:

You should talk to me about FBO insurance too. Unless your FBO is
different than every other FBO I've ever been into, their insurance
provides them (and/or the aircraft owner if it is leased to the FBO) with
hull coverage and liability insurance. In the event of damage to the
aircraft, of harm to a person (but maybe not you), the insurance will pay
to repair the aircraft and defend and pay and lawsuits that arise out of
the event. However, when all is said and done, to the extent that the
incident is your fault (most are), the insurance company will have the
right to sue you to recover all the amounts they paid to 'clean up your
mess'. If you are renting from an FBO, getting a renter's policy
(sometimes called a non-owned aircraft policy) is a good idea. I've never
figured out how the 'hull' portion of those polcies work - if you were
flying a $100K aircraft, you wouldn't want to have to maintain $100K of
hull coverage on top of the liability coverage.


--
Dallas

On Dec 5, 9:53 am, Dallas wrote:
A pilot buddy who works for a law firm has rattled my cage over renter's
insurance and liability.

Do you renters feel the need to pick up supplemental insurance? If so who
did you use and how much did it cost you?

Here's his comments:

You should talk to me about FBO insurance too. Unless your FBO is
different than every other FBO I've ever been into, their insurance
provides them (and/or the aircraft owner if it is leased to the FBO) with
hull coverage and liability insurance. In the event of damage to the
aircraft, of harm to a person (but maybe not you), the insurance will pay
to repair the aircraft and defend and pay and lawsuits that arise out of
the event. However, when all is said and done, to the extent that the
incident is your fault (most are), the insurance company will have the
right to sue you to recover all the amounts they paid to 'clean up your
mess'. If you are renting from an FBO, getting a renter's policy
(sometimes called a non-owned aircraft policy) is a good idea. I've never
figured out how the 'hull' portion of those polcies work - if you were
flying a $100K aircraft, you wouldn't want to have to maintain $100K of
hull coverage on top of the liability coverage.

--
Dallas

When I rented, I did get this supplemental coverage. It was about
$550/yr for liability and $60k of hull. This was in the late 90s
though.

Since then, I've joined a club whose members are "named insured".
Another benefit of a club...

--Dan

On 12/5/2007 11:53:39 AM, Dallas wrote:

Do you renters feel the need to pick up supplemental insurance? If so who
did you use and how much did it cost you?

Your buddy is correct. The FBO's insurance protects the FBO and the aircraft.
You need to protect yourself. When I rented I paid about $300 per year for a
renter's insurance policy from USAIG.

You might also try these folks he http://www.air-pros.com/

They are a broker but usually can land very competitive prices on both owner
and renter insurance policies. I use them now for my Bonanza's insurance.

AOPA also has leads on renter's insurance so you may check with them, too.

--
Peter

On Wed, 5 Dec 2007 12:10:40 -0500, Peter R. wrote:

Peter

Yo Peter...

I haven't seen you here for a while. I wanted to tell you that you're
directly responsible for my new PP-SEL.

I credit you for goading me off my ass and out the door to fly.

Thanks, (I think.. :-)

--
Dallas

On 12/5/2007 2:08:00 PM, Dallas wrote:

I haven't seen you here for a while.

Yeah, I am one of the many casualties of the war that has been going on
inside this group for the last year or so. However, since I am still using my
airplane to commute weekly I occasionally look for the gem of information
that sometimes surfaces.

I wanted to tell you that you're directly responsible for my new PP-SEL.

Really? I didn't realize. First, congratulations to you on your new
certificate. When did you get it? I knew you were in training but my lack of
regular reading here caused me to miss the day you passed your checkride.

Secondly, if you ever purchase your own airplane promise me you won't turn
that appreciation into loathing.


--
Peter

On Wed, 5 Dec 2007 14:57:26 -0500, Peter R. wrote:

Yeah, I am one of the many casualties of the war that has been going on
inside this group for the last year or so.

The war has pretty much faded away, you've got a steady green light to come
back. :-)


Really? I didn't realize. First, congratulations to you on your new
certificate. When did you get it?

Thanks, I'm not even a week old yet... it's just starting to sink in.
And.. I don't know what to do with all this new found free time.

Secondly, if you ever purchase your own airplane promise me you won't turn
that appreciation into loathing.

Don't worry about that, the wife gave me two choices:

1) Stay married
2) Buy an airplane

Pick one.

(I'll miss her. :-)

--
Dallas

Dallas wrote in news:1mlyeehb35czz
:

Don't worry about that, the wife gave me two choices:

1) Stay married
2) Buy an airplane

Divorce is cheaper than flying...

It's hard to say which is a better value, though.

On 12/5/2007 7:07:23 PM, Dallas wrote:

Thanks, I'm not even a week old yet... it's just starting to sink in.
And.. I don't know what to do with all this new found free time.

Get up there and fly.

Don't worry about that, the wife gave me two choices:

1) Stay married
2) Buy an airplane

Pick one.

(I'll miss her. :-)

LOL. Maybe someday you might consider crossing over to the dark side. It is
quite the experience.


--
Peter

On Dec 5, 9:10 am, "Peter R." wrote:
On 12/5/2007 11:53:39 AM, Dallas wrote:

Do you renters feel the need to pick up supplemental insurance? If so who
did you use and how much did it cost you?

Your buddy is correct. The FBO's insurance protects the FBO and the aircraft.
You need to protect yourself. When I rented I paid about $300 per year for a
renter's insurance policy from USAIG.

Or your buddy is right depending on the FBO. Several of the FBO's
around here have all pilots an open named so the insurance company is
obligated to defend them against any legal action.

-Robert

On 12/5/2007 3:56:26 PM, "Robert M. Gary" wrote:

Or your buddy is right depending on the FBO. Several of the FBO's
around here have all pilots an open named so the insurance company is
obligated to defend them against any legal action.

So, are you saying that the FBO's insurance policy in these cases will
protect the pilot or pilot's estate from a $1 mil lawsuit brought against him
by the families of the children on that school bus who were killed when the
aircraft struck the bus? (for some reason this was always the example given
to me by my mentor instructor)

--
Peter