Renter's Insurance?

On Wed, 5 Dec 2007 17:40:34 -0500, "Peter R."
wrote:

On 12/5/2007 5:31:03 PM, "Vaughn Simon" wrote:

I won't
touch any of them. You can't buy $250,000 of renter's hull insurance, and
you wouldn't want to pay for it if you could.

I would bet a paycheck that those airplanes are fully covered by the aircraft
owner's and/or FBO's insurance should a renter accident occur. Had you used
the excuse that you were avoiding those airplanes for the hourly rental fee,
that would be a more reasonable objection.


He may fear the subrogation clause in the FBO's policy, if there is
one. That said, you've really got to ball up a $250,000 airplane to
cause $250,000 worth of damage. *Most* accidents you live through
will leave quite a bit of the value of the aircraft intact. How far
you want to scale down your renters hull insurance depends on how
carefully you intend to crash. ;-)

I fly near new Cessna's in the $200,000 range and carry renter's hull
insurance for about 1/4 of that. My liability insurance is
considerably more. :-(

Ron

Robert M. Gary wrote:

Probably the difference between the come-lately FBO vs. the guys who
have build business from father to son.


I wonder how much more it costs for such coverage, and if some of the
other FBO's could do it and still make a profit.

On Dec 5, 6:32 pm, "Gig 601XL Builder" wrDOTgiaconaATsuddenlink.net
wrote:
xyzzy wrote:

Technically it's true but as a practical matter insurers almost never
exercise their right of subrogation.

Are you talking aviation related insurance only? Because if not I've got two
work comp subrogation cases working right this second.

Aviation insurance only.

On Dec 5, 5:09 pm, "Peter R." wrote:
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?

That lawsuit will be for a lot more than $1 million

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

Thanks for the timely thread. Our son, Joe, also a newly-minted
pilot, is going through this debate as well.

Mary and I carried renter's insurance before we owned our plane. AOPA
is currently offering it for "as low as $90" per year -- which is
about what it cost me, 14 years ago. (It's very cheap, considering
the potential cost of a claim.)

Since Joe is a minor, I presume the insurance companies would come
after ME in the event of an accident that Joe caused -- so it's in my
best interest to make sure he's fully covered...
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck 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?

Thanks for the timely thread. Our son, Joe, also a newly-minted
pilot, is going through this debate as well.

Mary and I carried renter's insurance before we owned our plane. AOPA
is currently offering it for "as low as $90" per year -- which is
about what it cost me, 14 years ago. (It's very cheap, considering
the potential cost of a claim.)

Since Joe is a minor, I presume the insurance companies would come
after ME in the event of an accident that Joe caused -- so it's in my
best interest to make sure he's fully covered...

Yes it is and that $90 per year is for liability only. The unowned hull
coverage is more...Lots more.

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 6, 4:08 am, B A R R Y wrote:
Robert M. Gary wrote:

Probably the difference between the come-lately FBO vs. the guys who
have build business from father to son.

I wonder how much more it costs for such coverage, and if some of the
other FBO's could do it and still make a profit.

The owner of one FBO I spoke to said it makes sense for him to have
that coverage. Of course he's been in business a long time and even
has insurance to do single engine 135 (which he would never be able to
get new today). His point is that when there is an accident having
your insurance company go after your customers just isn't good
business.

-Robert

On Wed, 5 Dec 2007 10:53:41 -0600, Dallas
wrote:

Do you renters feel the need to pick up supplemental insurance?

Yes. I don't want to be sued if I land on someone's swimming pool, and
hull insurance is required in order to rent the Cub.

If so who
did you use and how much did it cost you?

$701 for a million dollars' liability and $60,000 hull insurance. I
get a discount for renewing before the renewal date, and another for
being an AOPA member. I use an agent in Maine.

Blue skies! -- Dan Ford

Claire Chennault and His American Volunteers, 1941-1942
new from HarperCollins www.FlyingTigersBook.com

On Wed, 5 Dec 2007 10:53:41 -0600, Dallas
wrote:

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.

Sure you would. I do.

When I started out, I carried $15,000 hull insurance on a plane that
was worth $25,000, figuring that at the very least the instruments
would be salvagable. Then the airport put a $40,000 minimum on the
plane, and more recently $60,000.

(Zero Six Hotel went out the door in September 1946 for $2600 to an
FBO in Massachusetts.)

Blue skies! -- Dan Ford

Claire Chennault and His American Volunteers, 1941-1942
new from HarperCollins www.FlyingTigersBook.com