Owner Insurance

[Jonathan863]

To the folks that have their aircraft registered to an LLC, or other entities, how does insurance work? Do you pull out an owner policy against the LLC and get a separate non-owner policy for yourself since the LLC is technically the "owner" and not you?

I'm curious as to how this works.

Thanks!

 

[flyingron]

You just get one policy that names both the LLC and the members (owners) of the LLC.

 

[Clip4]

Most Non Owner Policies will not cover you flying an aircraft owned by an LLC that you own.

You will a find definition such as:


Non-owned aircraft” means an aircraft you rent or borrow. Its use must be with the owner’s permission. It cannot be owned in whole or in part by, or furnished for more than 30 consecutive days to:
a. you or your spouse;
b. parents, children, brothers or sisters of you
or your spouse;
c. a corporation, partnership or other organization in which any combination of people shown in a. and b. above own more than 20%.

 

[flyingron]

I agree with Clip4 as well. There's really not a thing called "owner insurance." You can get insurance that lists people (and LLCs or Corporations) even if they don't own aircraft.
A "non-owner" policy (or a non-owner benefit to another policy) provides coverage to aircraft that you have transient and non-ownership interests in as Clip4 says. "Renters" insurance is such.
My regular named policy has a non-owners provision that covers me up to my policy limits on things like borrowed aircraft (like the loaner Navion on got from my mechanic last month).