Insurance explanation needed

[Let'sgoflying!]

I am offered 1M per occurrence, with two sublimit options; 100K and 200K per pax.
(It's a 4-seater although it will be very rare to have anyone in the back and 80% of the time if I have anyone else in the plane it will be my wife or good friends.)

How does that work?
If I wreck with 3 pax, the most each pax is getting is 333K - and the 100K or 200K sublimits change nothing. (or is their max the sublimit shown?)

Maybe it has to do with property damage or hitting people on the ground reducing the pax payouts?

Worthwhile or not? They want almost $500 for the higher sublimit. Smooth not available.

 

[Chip Sylverne]

The $1M is the most the insurance co will pay per accident, including liability for pax and property/persons on the ground. The sublimit is the max they will pay per passenger. As always, read your policy.

 

[PPC1052]

The $1M is the most the insurance co will pay per accident, including liability for pax and property/persons on the ground. The sublimit is the max they will pay per passenger. As always, read your policy.

I have nothing to add to this.

 

[midlifeflyer]

Worthwhile or not? They want almost $500 for the higher sublimit. Smooth not available.

Assuming this is an owner policy rather than a renter policy, have you been shopping around or speaking with an independent broker who will shop for you?

 

[Clip4]

I am offered 1M per occurrence, with two sublimit options; 100K and 200K per pax.
(It's a 4-seater although it will be very rare to have anyone in the back and 80% of the time if I have anyone else in the plane it will be my wife or good friends.)

How does that work?
If I wreck with 3 pax, the most each pax is getting is 333K - and the 100K or 200K sublimits change nothing. (or is their max the sublimit shown?)

Maybe it has to do with property damage or hitting people on the ground reducing the pax payouts?

Worthwhile or not? They want almost $500 for the higher sublimit. Smooth not available.

Aviation insurance companies like to insure stuff not people. Stuff is easily replaced, people are not. Medical bills, lost income and pain suffering will go through $100K quickly.

https://www.avweb.com/news/features/Aviation-Insurance-Some-Good-News-and-Blunt-Talk-227127-1.html