CFI insurance for 150?

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rookie1255

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rookie1255
Flight instructing under part 61 and brand new at it. Thinking of buying a Cessna 150 as my personal airplane and also instructing in it. My quote was $700 for the year for my personal use and that particular company won't do a CFI policy. Does anyone know how much the premium jumps to for instruction? Another instructor was saying around 3k a year. Seems like a lot for a 150.

I figure charge $60 an hour for my time, $100 an hour to rent the airplane. My avg costs $40 a flight hour. Just trying to figure out how much instruction I'd have to give to break even.

Do these policies normally cover student soloing as well? What would be reasonable liability coverage to get? If I'm poor does it mean don't bother with liability insurance? As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?

Question summary:
1. Does anyone know how much the premium jumps to for instruction?
2. Do these policies normally cover student solos as well?
3. What would be reasonable liability coverage to get?
4. If I'm poor does it mean don't bother with liability insurance? (Since I have nothing to get sued for).
5. As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?
 
I don't know for sure, but the $3,000 a year sounds in the ballpark to me. It is a LOT more expensive to insure for instruction.
 
rookie1255 said:
Flight instructing under part 61 and brand new at it. Thinking of buying a Cessna 150 as my personal airplane and also instructing in it. My quote was $700 for the year for my personal use and that particular company won't do a CFI policy. Does anyone know how much the premium jumps to for instruction? Another instructor was saying around 3k a year. Seems like a lot for a 150.

I figure charge $60 an hour for my time, $100 an hour to rent the airplane. My avg costs $40 a flight hour. Just trying to figure out how much instruction I'd have to give to break even.

Do these policies normally cover student soloing as well? What would be reasonable liability coverage to get? If I'm poor does it mean don't bother with liability insurance? As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?

Question summary:
1. Does anyone know how much the premium jumps to for instruction?
2. Do these policies normally cover student solos as well?
3. What would be reasonable liability coverage to get?
4. If I'm poor does it mean don't bother with liability insurance? (Since I have nothing to get sued for).
5. As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?
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Sounds like a good game plan.... Altho 160 an hour for a 150 is kinda steep.. IMHO..
 
rookie1255 said:
As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?
QUOTE]

You won't have to worry about this part, you won't get rich. :no:

:rofl::rofl::rofl:
Click to expand...
 
rookie1255 said:
1. Does anyone know how much the premium jumps to for instruction?
Click to expand...

Talk to a insurance broker. There are different level policies for planes used for instruction. You'll need coverage for both you instructing in the aircraft and primary solos. That's going to be more than a policy that covers giving 10 BFRs a year.

2. Do these policies normally cover student solos as well?
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Yes. Often schools advise their students to obtain renters coverage to at least cover the deductible on the primary policy and to provide liability coverage for the student.

3. What would be reasonable liability coverage to get?
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The question is more what liability coverage CAN you get.

4. If I'm poor does it mean don't bother with liability insurance? (Since I have nothing to get sued for).
Click to expand...
You can still be stuck with a large judgement which will impair your ability to get business credit down the line. You also may have to declare bankruptcy at some point and hope to get the judgement discharged (which is not a given). So even if you don't think you have anything to lose right now, having insurance is better than not having it. Also, the insurer pays your defense, almost more important than the coverage itself.

5. As I get richer does flight instructing become not worth it since I'll have to keep bumping up the liability coverage?
Click to expand...
If you keep flight instructing, you won't have to worry about getting rich :D
 
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