Hull insurance.

[crazyhorse]

Hello,
I'm an Irish pilot who goes to the usa each april for a holiday and some cheaper-than-Ireland plane rental.You are quoted an hourly wet rental rate and thats it.
Next year for a change I said I'd give south TX gulf a try.I was quoted the rate and told I'd have to get $25000 worth of hull insurance as well.
Whats that all about? Is this something new?
Any replies appreciated,
Jackie(male name over here)

 

[jesse]

Hello,
I'm an Irish pilot who goes to the usa each april for a holiday and some cheaper-than-Ireland plane rental.You are quoted an hourly wet rental rate and thats it.
Next year for a change I said I'd give south TX gulf a try.I was quoted the rate and told I'd have to get $25000 worth of hull insurance as well.
Whats that all about? Is this something new?
Any replies appreciated,
Jackie(male name over here)

Check with a different FBO.

I've never had to buy insurance with any FBO I've flown at..although I'm a little less concerned than others when it comes to liability.

 

[Greg Bockelman]

Check with a different FBO.

I've never had to buy insurance with any FBO I've flown at..although I'm a little less concerned than others when it comes to liability.

LOL. No assets, nothing to come after. We should all be so lucky.

 

[poadeleted20]

Many FBO's in the USA are reducing their insurance premiums by increasing the deductibles on their hull insurance. Since the renter is generally responsible for any deductible if the plane is bent, they want to be sure they'll be able to collect that deductible without hiring a lawyer and getting a lien on the renter's home, and requiring the renters to have that much hull insurance of their own is a pretty good way to do that. Expect to see the requirement for renters to have their own insurance become more and more widespread.

 

[Chache]

Hello,
I'm an Irish pilot who goes to the usa each april for a holiday and some cheaper-than-Ireland plane rental.You are quoted an hourly wet rental rate and thats it.
Next year for a change I said I'd give south TX gulf a try.I was quoted the rate and told I'd have to get $25000 worth of hull insurance as well.
Whats that all about? Is this something new?
Any replies appreciated,
Jackie(male name over here)

No, nothing new, except for the current panic over liability.

Hull Insurance protects you, from the insurance company insuring the plane.
If there's a liability issue, the Insurance company will pay out the amount of the policy, to the policy holder. (the owner, leasor, or contractor paying the premiums.
The Insurance company, will then try to recoup it's losses by coming after you, the person involved in the issue.
Hull insurance covers you and only you in this matter from having liens on your assets, from the damages caused to the aircraft.

IT DOES NOT protect you from any liability from injured parties, passengers, other people involved , for that you need regular liability Ins.

Some FBO's carry NO insurance on their aircraft.
They'll come after you for damages.....

http://www.aopa.org/members/files/pilot/1996/pc9610.html

http://www.aopa.org/members/files/pilot/2003/cost0307.html

Remember... Hull Insurance covers YOU against damages to an aircraft,
subrogated by the Insurance company paying the claim

 

[Dave Krall CFII]

Nothing new, but fortunately some companies will allow you to cancel a policy after 6 months so at least you don't have to pay a full year, although that's what one must bind for initially.

Hello,
I'm an Irish pilot who goes to the usa each april for a holiday and some cheaper-than-Ireland plane rental.You are quoted an hourly wet rental rate and thats it.
Next year for a change I said I'd give south TX gulf a try.I was quoted the rate and told I'd have to get $25000 worth of hull insurance as well.
Whats that all about? Is this something new?
Any replies appreciated,
Jackie(male name over here)

 

[flyingcheesehead]

Many FBO's in the USA are reducing their insurance premiums by increasing the deductibles on their hull insurance. Since the renter is generally responsible for any deductible if the plane is bent, they want to be sure they'll be able to collect that deductible without hiring a lawyer and getting a lien on the renter's home, and requiring the renters to have that much hull insurance of their own is a pretty good way to do that. Expect to see the requirement for renters to have their own insurance become more and more widespread.

I've rented in a lot of places and this has only been a requirement once, at X39 (North Tampa... Or is it Tampa North?). At the home base I don't need extra insurance as the club's policy has "Capitol City Flyers Inc. and individual members thereof" as named insured, and even the FBO policy has renters as named insured - pretty much unheard of these days! But, since I'm such an airplane whore I figure it can't hurt. Any time I have a free moment, no matter where I am, I rent an airplane. Last week it was a DA40 at BJC in Denver. It gives me a little peace of mind in those cases.

 

[crazyhorse]

Thank you all for the feedback which varied from"no way!" to"expect more of this and its for YOUR protection".Perhaps I should look for another fbo.They are a bit thin on the ground in the south TX gulf area.I would want to do a couple of overnights in the 3 weeks I'll be there which was a problem for one of the fbos.Any recommendations?
Jackie.