I'm looking at getting back into flying after not flying last year after I got my PPL. The FBO I have been talking to says that the only insurance they require is one that covers their deductible of 5,000 dollars. That doesn't seem like that would protect me very well if something would happen. Also can't their insurance come back and sue me if something were to happen? My question is.... What is the best policy ( price and coverage) for someone to have while renting. I'm assuming hull and liability? The planes I would be flying are either 1974 172 M or 1999/2000 172 S models. More than likely gonna fly the 172 M because it's cheaper. Any insight is much appreciated.
Renter's Insurance
- Thread starter lewy15
- Start date
tonycondon
Gastons CRO (Chief Dinner Reservation Officer)
where are you at these days Lewy? glad to hear you are getting airborne again.
Mike5250
Line Up and Wait
The aopa renters insurance I had also covered injury to yourself and passengers. You can opt for higher limits, but i think it comes with 10k per person which wont get you very far. With a fresh ppl 2 years ago I was paying 150/yr.
tonycondon
Gastons CRO (Chief Dinner Reservation Officer)
cool, you should also look up Rick Gleason, controller and CFI in Des Moines. He instructs with the Des Moines Flying Club and another rental outfit that might be more reasonable on your wallet.
http://www.desmoinesflyingclub.com/instruct.html
http://www.desmoinesflyingclub.com/instruct.html
poadeleted20
Deleted
- Joined
- Apr 8, 2005
- Messages
- 31,250
That's true.
Possibly. Some FBO's have waiver of subrogation for their renters, but many don't.
Liability, I'd get the same $1M that most folks get with their own planes. Injured third parties will be aiming primarily at the pilot, so you need all you can reasonably get, and the FBO's insurer's attorneys will be doing their level best to deflect all blame to you, the pilot, so it will be two-on-one (FBO's insurer and injured third party ganging up on you). For hull, you really only need enough to pay for the damage you're likely to cause. The odds of you totaling the plane and having the FBO's insurer subrogate for the full hull value of a relatively new 172S are pretty slim. Personally, I carry $75K hull on my non-owned policy -- enough to pay for a good defense and most foreseeable damage (even a gear-up in a twin).
As for insurers, I have my non-owned as part of my CFI policy from Falcon via NAFI. There are several other options if you don't need instructor coverage, too, including AOPA Insurance.
TMetzinger
Final Approach
The FBO insurance won't protect you at all. It exists to protect the FBO against damage (hull) and liability claims. Before making a decision you need to ask if their insurance includes a waiver of subrogation, which means that their insurance company won't try to recoup their losses by suing you. If that's the case, you're covered for damage to the plane except for the deductible.
But you have no protection against liability claims (if your passengers or third parties are injured).
So, as a renter, you should always ensure that you've got what ever liability coverage you need, and you're likely going to need to bring your own coverage. You should then learn what your exposure is for hull damage. You either need coverage from the FBO/School's insurance (with no subrogation) or or your own coverage.