Renter's Insurance: What's Your Coverage? Best Companies? Other Tips?

I figure it might be a good idea to get renters insurance since I have not flown for a number of years other than a recent BFR and some T&Gs. Going to venture away from my home airport this weekend. What kind of coverage do you have? Where can I find the best rate with a reputable insurer? Any other pointers or tweaks? Thanks!

 

AVEMCO is easy and reasonably priced. Not perfect, but not bad.

 

Do you have a parachute and a selfie stick?

 

Yes. They came with a free fire extinguisher and leg strap.

 

Stuff is easily replaced. People are not. The insurer will cover about any hull risk you want. They will be stingy with covering people. Buy all the people coverage you can get and 33%-50% of the hull value of the plane you are renting.

 

Both places I rent from have coverage for me, with some sort of deductible arrangement. I have renters insurance that’s about 3x deductible and then liability in addition. It’s through AOPA and not too expensive. That reminds me I need to add multi coverage soon when I start my training.

 

Do they have coverage for you, or coverage for them? Beware subrogation.

 

The rental place near me required $25k of hull coverage and whatever you wanted on people coverage

My CFI pointed out that with most, even if you get $1mm liability, there is a per person payout limit and only 4-seats in the planes I will be flying.

I went through EAA which was ultimately Falcon Insurance.

$25k aircraft damage coverage and $1mm liability limited to $200k per passenger.

$712

that was in December 2021. I’m a ppl with about 450 hrs. I sensed that didn’t much matter either way (maybe an IR or commercial ticket would have helped - I don’t know).

 

I think I'm paying around $650ish for $50k hull coverage from Avemco. Don't recall what my liability/injury coverages are, though.

 

Aircraft Liability $1,000,000 each occurrence bodily injury and property damage limited to $100,000 each passenger
Aircraft Physical Damage $60,000 each occurrence
including deductible insurance of $5,000 each occurrence

...cost me $701 with AssuredPartners.

 

So here's a question. If the FBO renting states that my limit of liability to physical damage of the airplane is 10,000 does that mean I only need 10,000 coverage for non owned airplane physical damage coverage?

 

The flight school I rent from this year requires a minimum of 50K renters ins. I only have about 100hrs (not instrument rated) and it costs me about $550 for 60K.

 

I just got a look at the policy on the aircraft (C172P), The coverage are:

Deductible(s): $1,000 Not In Motion / $2,500 In Motion
Limits of Liability: $1,000,000 Each Occurrence / $100,000 Per Person

Would you augment that?

 

You need to look at the WHO IS COVERED clause in the policy. Some policies specifically exclude renters as insured persons meaning that if you are found liable for property damage or bodily injury as a renter the insurance company does not need to defend you or pay on your behalf. Additionally, if you are not an insured person, they can demand that you pay for physical damage (not just the deductible) to the aircraft.

Aviation insurance policies are not standardized and can vary from one company to another and/or what level of coverage the flight school purchases. Some policies extend the flight school's coverage to the renter, others do not.

 

I had an excellent experience with https://air-pros.com recently. Highly recommend.