Any owned-policies provide coverage for non-owned A/C?

[pj500]

Is anyone aware of a owned policy which provides coverage for non-owned aircraft, both physical damage and liability, up to the limits on your owned policy?

I'd be nice to be able to rent an A/C when one's own is down for maintenance, but I'm finding the non-owned policies are often just as expensive as the owned policy. It wouldn't make sense to buy such a policy for a few hours of rental per year.

 

[weilke]

Typical owned policies contain non-owned coverage. The hull coverage is usually limited to whatever your stated value for the owned aircraft is (or a fraction thereof, iirc it was 125% at one point). There can be a limitation on when that non-owned coverage is in effect, e.g. only if you rent to replace the owned plane while it is in the shop.

One thing to be careful about is if you own your plane through an entity and only the entity is listed as the 'insured'. In that case, your owned policy may not extend coverage to you as a pilot (unless specifically stated in the policy form).

Read your owned policy, it should state whether you have a non-owned benefit.

I have a separate non-owned policy, but that is because the non-owned coverage from our partnership plane would not cover me in twins and the liability limits of my non-owned policy 'stack' with other available coverage (in effect giving me twice the typical liability limits).

 

[pj500]

Typical owned policies contain non-owned coverage. The hull coverage is usually limited to whatever your stated value for the owned aircraft is. There can be limitation on when that non-owned coverage is in effect, e.g. only if you rent to replace the owned plane while it is in the shop.

One thing to be careful about is if you own your plane through an entity and only the entity is listed as the 'insured'. In that case, your owned policy may not extend coverage to you as a pilot (unless specifically stated in the policy form).

Plane is in an entity, but I am also a named pilot. I will look into that.

 

[weilke]

Plane is in an entity, but I am also a named pilot. I will look into that.

Carefully read the verbiage of the policy and the definitions portion. Some policies state that any named pilot is also a 'insured' under the policy. If it doesn't say that and only your entity is listed as the 'insured' (rather than saying 'bobs plane,llc or Bob'), the policy only covers you while piloting the plane. There is lots of ambiguity with terms like 'named insured' 'named pilot' 'approved pilot' and 'additional insured' in aircraft policies. The terms are not universally defined and their meaning can vary depending on the respective policy and the state it was written in.

Our policy has language that starts with 'unless the insured is a natural person or married to a natural person' or something to that effect. The way it is worded, the general non-owned coverage only applies if the policy is written on a person or a married couple. If the policy is written on an entity, there is still non-owned coverage available but it is limited to a replacement aircraft (so if the parternship plane is down and we rent a replacement, we as the partners are covered through our policy. If one of us is on vacation in hawaii and rents a skyhawk, we are not covered).