Time to get "Renter's Insurance"

iWantWings

iWantWings

Pre-takeoff checklist
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So I got my kids all pumped up to go to the airport and do a fun evening flight with the school's C172.

Only a short time later did I remember the flight school's amendment to the insurance policy

<quote>
A valid proof of insurance must be provided before renting or commanding an aircraft to be used to fly passengers. All passengers must also sign a release of liability agreement.​
</quote>

So it turns out I can no longer take my kids - or any passengers for that matter - unless I have "Renter's Insurance" (non-owned aircraft insurance). For the good number of years the school's been around, it was possible to take passengers on rented planes without "non-owned" aircraft insurance. I did not ask what brought about the change in policy - I can only guess. Bummer.

Or is it?

All things considered, this is the kick-in-the-butt I needed to get this insurance - something I prolly' should have already done.

The 2 planes i fly are a very nice C172 (~$95K) and also a a very nice Piper J-3 Cub (~$30K). I'm a low time pilot and have to find out how this will pan out (especially the tailwheel thing).

Sucks not being able to take my kids flying until then.
 
I've voluntarily had renter's insurance from AOPA whenever I rented. I switched to a non-equity partnership that had better insurance so I didn't renew the renter's insurance. Now I'm back at the same FBO which is making renter's insurance mandatory. No big deal for me. I guarantee the FBO's insurance policy is bare bones and only protects them.
 
Every FBO is different, but most will generally want some form of "renters insurance", which is really deductible and liability insurance. The FBO (should) have insurance on the plane but there's is almost certainly a deductible. The FBO will then likely want to see you holding deductible insurance in the amount of their deductible. That way if there's an issue they can just ding your insurance rather than coming after you directly to collect.

Main issue comes down to how the FBOs insurance considers you. Ideally the FBO shows you policy language that says the renter is considered a "named insured" otherwise there is always a risk that the primary insurance goes after the renter if significant damage occurs... although I've never actually heard of a specific case where this occurred. Regardless get something in writing from the FBO so you know what the actual situation is.

Most renter's policies also have liability coverage attached too for say $1 million for but that's very cheap as such claims are rare.

In any case total cost per year isn't too bad. Usually equivalent to around 1-2 hours of rental time.

Friend had a claim when a bird hit the wing and dented the skin. Ended up being a total non-issue. FBO worked with the renters insurance company for the deductible cost and everything was processed easily. Rates didn't even go up next year since it was considered an "act of God" situation.

As for the liability release agreement that's been discussed a lot elsewhere. Depends on your state and the admissibility of such agreements in most serious legal proceeds ranges from zero to maybe.
 
Check AVEMCO, they have been my favorite for renters insurance, did they give you mandatory limits you need to buy?
 
Thanks everyone for the info.

I just got my AVEMCO policy, maxed on bodily and property damage. Then did my best guess on Aircraft damage.

I feel better now :)
 
Lindberg said:
If you have a credit card, you can buy it online from Avemco.
Click to expand...
Or over the phone. 15 years ago - I was ready to solo and we had to have it to solo. I did it over the phone to Avemco at the flight school. I might have had to fax something - but it should not be any real delay.
 
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