Renter's insurance

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Michael Gallagher

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Anyone have a renter's insurance policy? I had one from BWI and when I went to renew it I was told I could only get insurance of $100k. They said it was because I was a student pilot, but I actually hold a sport certificate. They were asking when I will get my PPL. I will likely never get a PPL. The agent may be mistaken about the coverage limit given that I am not a student, but thought I would ask where others get their insurance.
 
Michael Gallagher said:
Anyone have a renter's insurance policy? I had one from BWI and when I went to renew it I was told I could only get insurance of $100k. They said it was because I was a student pilot, but I actually hold a sport certificate. They were asking when I will get my PPL. I will likely never get a PPL. The agent may be mistaken about the coverage limit given that I am not a student, but thought I would ask where others get their insurance.
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Very possible that the agent was mistaken, has been known to happen. I would ask around.

Also see if you need insurance. My club covers ours and unless you did something on purpose, they are not asking for any funds to cover deductibles. Ask your school about their policies and see what you sign into.
 
My son just got renters insurance through Avemco. Be aware if you want hull coverage it’s just as expensive as owners insurance.
 
bonefishpete said:
My son just got renters insurance through Avemco. Be aware if you want hull coverage it’s just as expensive as owners insurance.
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Yep. I'm surprised it's not much higher, to be honest. I have an Avemco renter's policy, as I sold my plane. It's slightly cheaper, with slightly lower limits, but affordable.
 
When my son rented a twin to get his multi rating, they required a policy including $50,000 hull. That would cover their hull deductible. But that also allowed him to rent the plane to get 25 of the 50 required for the ATP.
 
bonefishpete said:
My son just got renters insurance through Avemco. Be aware if you want hull coverage it’s just as expensive as owners insurance.
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Depends. With Avemco, there’s variable non-owned aircraft damage liability line item. What amount you choose drives premium. For full hull coverage, most are better off seeing if they meet the open pilot clause or being named as an insured and paying the difference.
 
TCABM said:
Depends. With Avemco, there’s variable non-owned aircraft damage liability line item. What amount you choose drives premium. For full hull coverage, most are better off seeing if they meet the open pilot clause or being named as an insured and paying the difference.
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My Son has 25K hull and don’t remember the liability but the premium is right at $500.

172 School plane. Actually they don’t require hull but I wanted something for light damage anyway.
 
bonefishpete said:
My Son has 25K hull and don’t remember the liability but the premium is right at $500.

172 School plane. Actually they don’t require hull but I wanted something for light damage anyway.
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For ref our avemco ‘club’ policy runs $6500/yr for 11-15 pilots on a 172M w/ $100K hull, mor renter’s policy required. Some of our pilots rent non-club planes and carry renters on the side.
 
AVEMCO to cover the FBO deductible. My owner policy has a hull value that would cover a finite number of rentals but sometimes that might not be enough for the FBO.
 
X3 Skier said:
AVEMCO to cover the FBO deductible. My owner policy has a hull value that would cover a finite number of rentals but sometimes that might not be enough for the FBO.
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Couldn't the school/club insurance come after the renter to pay for total hull loss after paying the school/club off?
 
bonefishpete said:
Couldn't the school/club insurance come after the renter to pay for total hull loss after paying the school/club off?
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Sure, right of recovery and all that but if an insurer did this routinely, it would defeat the purpose of an (renter’s) insurance policy entirely.
 
bonefishpete said:
Couldn't the school/club insurance come after the renter to pay for total hull loss after paying the school/club off?
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In theory, yes, but that depends on the school/club/insurance policy rules. I've been in those with limits on the pilot's hull liability (deductible only), those with no limits on the pilot's liability, and those with no pilot hull liability at all (absent some specific aggravating circumstances).

Aviation Insurance Error #1 - "They are all the same."
 
bonefishpete said:
Couldn't the school/club insurance come after the renter to pay for total hull loss after paying the school/club off?
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Find out who writes the coverage for the school/club, and buy your non-owned policy from them with limits to cover the deductible. Ain't no way an underwriter is going to subrogate against one of their own policyholders.
 
Chip Sylverne said:
Find out who writes the coverage for the school/club, and buy your non-owned policy from them with limits to cover the deductible. Ain't no way an underwriter is going to subrogate against one of their own policyholders.
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I’d he surprised if there’s much subrogation happening except in cases where the person clearly did not have legal access to the plane and the insurer had reason to realistically believe they could recover the costs involved in getting the judgement.

My guess is the typical renter is fairly judgement proof.
 
Chip Sylverne said:
Find out who writes the coverage for the school/club, and buy your non-owned policy from them with limits to cover the deductible. Ain't no way an underwriter is going to subrogate against one of their own policyholders.
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insurers have common law and contractual subrogation rights. When and how they choose to exercise them is often a separate question. That choice can change as the underlying factors change.

You can sometimes see the same with coverage denial rights.
 
TCABM said:
I’d he surprised if there’s much subrogation happening except in cases where the person clearly did not have legal access to the plane and the insurer had reason to realistically believe they could recover the costs involved in getting the judgement.

My guess is the typical renter is fairly judgement proof.
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A renter that has 25K hull renters insurance totals a 400K Cessna 172 and the owners insurance says no problem 25K will cover it?
 
Michael Gallagher said:
Anyone have a renter's insurance policy? I had one from BWI and when I went to renew it I was told I could only get insurance of $100k. They said it was because I was a student pilot, but I actually hold a sport certificate. They were asking when I will get my PPL. I will likely never get a PPL. The agent may be mistaken about the coverage limit given that I am not a student, but thought I would ask where others get their insurance.
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You can try calling a few aviation-friendly insurers directly and ask for renter’s coverage based on your sport certificate. Some companies mix up student status and certificate type if the info is not clear in their system. Ask for quotes from Avemco and Falcon. They often write policies for sport and recreational pilots without forcing a PPL timeline. Keep your hours and certificate info simple and clear when you call.
 
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