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#1
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renter/lease insurance question
As a renter of the local FBO 172, should I obtain personal renter insurance?
What are the pro's and con's? Where would one get such coverage? Thanks, Fred |
#2
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Frederick Wilson wrote:
As a renter of the local FBO 172, should I obtain personal renter insurance? Yes. The FBO's insurance policy protect them, not you. It is possible that the insurance company, after paying the claim, will come after you for money they spent repairing any damage. Furthermore, there is also the issue of liability. Who is going to be on your side when a property owner or other ground-based recipient of your aircraft comes knocking on your door with a lawsuit. Not the FBO's insurance company. What are the pro's and con's? I can't think of any cons. Like any policy, the pros are that you will sleep better and fly with less distractions. Where would one get such coverage? When I rented, I purchased a good policy from Avemco. I believe I paid about $350 for the year. Prices will be different depending on the varying values of liability and hull value of the aircraft. http://www.avemco.com -- Peter ----== Posted via Newsfeed.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeed.com The #1 Newsgroup Service in the World! 100,000 Newsgroups ---= 19 East/West-Coast Specialized Servers - Total Privacy via Encryption =--- |
#3
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As a renter of the local FBO 172, should I obtain personal renter insurance? Yes. Your airport may not require insurance (mine does) but always remember that the airport or FBO is insuring itself and doesn't care a hoot about you. It might come after you for the deductible (probably not a big matter). Someone you injure might decide to sue you, as well as the airport. Etc. I pay a bit less than $600 a year for a million-dollar liability policy, $25,000 hull insurance. You can ask the FBO for leads. AOPA has an insurance broker. I buy mine from a private insurance agency that represents AIG. all the best -- Dan Ford email: see the Warbird's Forum at www.warbirdforum.com and the Piper Cub Forum at www.pipercubforum.com |
#4
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Almost makes me scared to fly.
How does flight time factor into this. Where I guess I am most concerned is that I am over 1200hrs in helicopters but only around 200 in fixed wing. Or look at it this way, Comm IA in rotorcraft and PP-ASEL. I know I know! I should get my IA and Comm in airplane but I have not seen the justification yet. Although it is a small dream to be a CFI one day but that does not fit the schedule right now. Fred "Peter R." wrote in message ... Frederick Wilson wrote: As a renter of the local FBO 172, should I obtain personal renter insurance? Yes. The FBO's insurance policy protect them, not you. It is possible that the insurance company, after paying the claim, will come after you for money they spent repairing any damage. Furthermore, there is also the issue of liability. Who is going to be on your side when a property owner or other ground-based recipient of your aircraft comes knocking on your door with a lawsuit. Not the FBO's insurance company. What are the pro's and con's? I can't think of any cons. Like any policy, the pros are that you will sleep better and fly with less distractions. Where would one get such coverage? When I rented, I purchased a good policy from Avemco. I believe I paid about $350 for the year. Prices will be different depending on the varying values of liability and hull value of the aircraft. http://www.avemco.com -- Peter ----== Posted via Newsfeed.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeed.com The #1 Newsgroup Service in the World! 100,000 Newsgroups ---= 19 East/West-Coast Specialized Servers - Total Privacy via Encryption =--- |
#5
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So what happens after a Million Dollars.
You know folks can be mighty greedy. Fred "Cub Driver" wrote in message ... As a renter of the local FBO 172, should I obtain personal renter insurance? Yes. Your airport may not require insurance (mine does) but always remember that the airport or FBO is insuring itself and doesn't care a hoot about you. It might come after you for the deductible (probably not a big matter). Someone you injure might decide to sue you, as well as the airport. Etc. I pay a bit less than $600 a year for a million-dollar liability policy, $25,000 hull insurance. You can ask the FBO for leads. AOPA has an insurance broker. I buy mine from a private insurance agency that represents AIG. all the best -- Dan Ford email: see the Warbird's Forum at www.warbirdforum.com and the Piper Cub Forum at www.pipercubforum.com |
#6
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Peter R. wrote in message ...
Frederick Wilson wrote: As a renter of the local FBO 172, should I obtain personal renter insurance? Yes. The FBO's insurance policy protect them, not you. It is possible that the insurance company, after paying the claim, will come after you for money they spent repairing any damage. Although is about as likely as being hit by lightening. My broker has been insuring FBOs for 30 years and has never had this happen with any of his clients. What are the pro's and con's? I can't think of any cons. Like any policy, the pros are that you will sleep better and fly with less distractions. Just like any decision you must do a cost/benefit analysis. Certainly, it is not worth the premium for some students. If your FBO has full hull and you have limited assets, what are you trying to protect with a renter's policy??? Where would one get such coverage? When I rented, I purchased a good policy from Avemco. I believe I paid about $350 for the year. Prices will be different depending on the varying values of liability and hull value of the aircraft. It is a very rare case where you will need to insure the hull value of the aircraft. You are usually looking at what the insurance does not cover. Things like deductable, lose of use, etc. Check the FBOs policy to see what part of the hull they do not cover. If the FBO is stupid enough to not buy hull and mistaken enough to think that having renters buy renters insurance to replace the airplane, they will eventuall lose their shirts anyway. |
#7
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Trust me I am not worth much monetarily. I would like to think I am worth a
lot the wife and kids. This of course is from a person who finds most enjoyment from flying around to see the leaves change color in the fall or the occasional fly ins. Fred "Nomen Nescio" ] wrote in message ... -----BEGIN PGP SIGNED MESSAGE----- From: "Frederick Wilson" So what happens after a Million Dollars. You know folks can be mighty greedy. Fred Have the plaintiff killed. Only costs about a grand to get some inner city punk to take care of the problem. g But seriously...... you're screwed. If you're worth... say ...a house and a $50k salary, an attorney will probably settle for the million. But if you're worth a few million....well.... get a good lawyer 'cause you're a target with $$ as the bullseye. Or refer back to my first suggestion. -----BEGIN PGP SIGNATURE----- Version: 2.6.2 iQCVAwUBQAWGWpMoscYxZNI5AQGLIgQAjJOUBD1Ib6VNOsuP/ZrYnEx0Wsmd7VdP ku/KuanHKuYT63yur904EJR1BiPUD5eav8B6MRC4T38GKJdQx/xxt5LG3vq+5tmv CV9LY6hG43ck7AB7qNUOYrp4zvy4YYKQLHsxyMhtQRqY8DZev4 ps+N409HsU2WqK gjDQ0XsPuEY= =87zy -----END PGP SIGNATURE----- |
#8
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Frederick Wilson ) wrote:
Almost makes me scared to fly. Ah, these days there is liability from the moment we step outside of our houses. More and more people are looking for the quick, free money and an opportunity to sue someone is the golden ring. Flying is but one of many activities where we place our neck on the chopping block of litigation. That's why we carry home owners, auto, umbrella, and business policies, or so the insurance company would like to have us believe! Use your fear to remain proficient! How does flight time factor into this. Where I guess I am most concerned is that I am over 1200hrs in helicopters but only around 200 in fixed wing. I don't think it does. I was able to get a renter's policy from Avemco with a mere 80 hours and a freshly printed private pilot certificate. -- Peter ----== Posted via Newsfeed.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeed.com The #1 Newsgroup Service in the World! 100,000 Newsgroups ---= 19 East/West-Coast Specialized Servers - Total Privacy via Encryption =--- |
#9
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Robert M. Gary ) wrote:
If your FBO has full hull and you have limited assets, what are you trying to protect with a renter's policy??? Future earnings? -- Peter ----== Posted via Newsfeed.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeed.com The #1 Newsgroup Service in the World! 100,000 Newsgroups ---= 19 East/West-Coast Specialized Servers - Total Privacy via Encryption =--- |
#10
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"Peter R." wrote in message
... Robert M. Gary ) wrote: If your FBO has full hull and you have limited assets, what are you trying to protect with a renter's policy??? Future earnings? Yea for the next 7 to 10 years! -- Peter ----== Posted via Newsfeed.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeed.com The #1 Newsgroup Service in the World! 100,000 Newsgroups ---= 19 East/West-Coast Specialized Servers - Total Privacy via Encryption =--- |
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