Renter's Insurance?

He is only covered in rental aircraft when operating as the company.
For most of us that means when you rent a plane to go retrieve your
plane after annual since the only business of the company is to own the
aircraft

I"m not sure what "normal" is. Of the 3 FBOs I've bothered to check
with 2 of them have policies that cover the renters for liability (as
if they were named) and hull (minus deductable). The FBOs say it
doesn't cost much more and if the renter gets sued odds are the FBO
will be sued anyway. Its easier to keep friends and cover your renters
on your policy.

-Robert

I read an article this spring.. I do not remember if it was in AOPA, Private
Pilot.. or Flying.. about renters insurance..

One thing that stuck in my head on this one.. the renters insurance only
kicks in if you the renter pilot is found to be at fault.. if it's a
mechanical.. you may not be covered... if you land sideways in the cross
wind and loose control... that's what the insurance is for..

BT

"Mortimer Schnerd, RN" wrote in message
...
How many of you guys carry renter's insurance? I never have in the past
but I'm older and wiser now and have been thinking about it.
Specifically, that offered through AOPA.

How much hull insurance is necessary? I'm pretty sure the FBO insures
their aircraft but surely there's a deductible I need to consider.

Your thoughts?




--
Mortimer Schnerd, RN

VE

On 5/27/05 6:51 AM, in article
, "Mortimer Schnerd, RN"
spewed:

How many of you guys carry renter's insurance? I never have in the past but
I'm
older and wiser now and have been thinking about it. Specifically, that
offered
through AOPA.

How much hull insurance is necessary? I'm pretty sure the FBO insures their
aircraft but surely there's a deductible I need to consider.

Your thoughts?



I carry enough to cover the plane that I regularly fly. Funny that I feel a
larger motivation to fly more since I have it and don't want to let that
check go to waste.
--
Jeff 'The Wizard of Draws' Bucchino

Cartoons with a Touch of Magic�
http://www.wizardofdraws.com

More Cartoons with a Touch of Magic�
http://www.cartoonclipart.com

Yes, but the insurance company has only one aircraft to repair or replace,
regardless of how many people are flying it.

(I presume) they don't, and shouldn't, think that way. They think of
the =likelyhood= that the airplane will need to be replaced. Further,
once it =is= replaced, it's with a new one that will be equally vulnerable.

For example,
if 100 renters' premiums were $1k/year for a $100k hull coverage, there is
no risk.

How is there no risk? 100 renters could total 100 aircraft in one day.
AT $100K apiece they have an exposure of ten million dollars.

It's not =likely= that those 100 renters would crash the same day, but
that's what they base their premiums on - likelyhood.

Each year the insurance company has no losses, they have pure profit
(and can invest the money to make more profit). But each year they have
a loss, they have to pay the whole thing, plus their lawyers.

Jose
--
The price of freedom is... well... freedom.
for Email, make the obvious change in the address.

The airport where I rent requires us to carry $40,000 hull insurance.
To that I add $1 million liability, for a cost of about $600 a year. I
would have the liability even if I wasn't obliged to carry the hull
insurance in order to rent.

(Prior to the new requirement, I carried only $15K, figuring that a
lot of what made the Cub valuable would survive a crash, and that I
didn't mind a bit of self-insurance in there. But the most recent
addition to the fleet cost $40,000 to rebuild, and the owner got anal
about being able to recover his investment.)

(Can you imagine a $40,000 L-4? I wonder what the army paid for that
bird, about $1,800?)


On Fri, 27 May 2005 10:51:32 GMT, "Mortimer Schnerd, RN"
wrote:

How many of you guys carry renter's insurance? I never have in the past but I'm
older and wiser now and have been thinking about it. Specifically, that offered
through AOPA.

How much hull insurance is necessary? I'm pretty sure the FBO insures their
aircraft but surely there's a deductible I need to consider.

Your thoughts?


-- all the best, Dan Ford

email (put Cubdriver in subject line)

Warbird's Forum: www.warbirdforum.com
Piper Cub Forum: www.pipercubforum.com
the blog: www.danford.net
In Search of Lost Time: www.readingproust.com

On 27 May 2005 15:22:36 -0700, "John Galban"
wrote:

The way it
(normally) works is that the FBO's insurance covers the FBO. They will
pay the FBO for the loss of the hull, minus the deductible. The
insurance company can then go after you to recover their loss

I know that this does happen. When I was in training, I dinged a prop.
The instructor's insurance company thought it should pay only the
deductible, but the airport's insurance company demanded and got
repayment of the whole amount of a new prop and the engine tear-down
and inspection. I felt very badly about it.


-- all the best, Dan Ford

email (put Cubdriver in subject line)

Warbird's Forum: www.warbirdforum.com
Piper Cub Forum: www.pipercubforum.com
the blog: www.danford.net
In Search of Lost Time: www.readingproust.com

On Fri, 27 May 2005 21:57:21 GMT, "lardsoup" wrote:

I've also noticed FBOs react nicer to renters who show up with
insurance.

Just so. I was being cross-examined by an FBO and scheduled for a
check flight to fly their Taylorcraft, but when I pulled out the
insurance policy they just melted. The examination ended, and I got
the impression that I could have just stepped into the airplane and
flown it without a check flight, but I wanted the instruction.


-- all the best, Dan Ford

email (put Cubdriver in subject line)

Warbird's Forum: www.warbirdforum.com
Piper Cub Forum: www.pipercubforum.com
the blog: www.danford.net
In Search of Lost Time: www.readingproust.com

Recently, Jose posted:

For example,
if 100 renters' premiums were $1k/year for a $100k hull coverage,
there is no risk.

How is there no risk? 100 renters could total 100 aircraft in one
day. AT $100K apiece they have an exposure of ten million dollars.

It's not =likely= that those 100 renters would crash the same day, but
that's what they base their premiums on - likelyhood.

I'd take those kinds of odds to Las Vegas any and every day of the week.
Such "risk" is negligible, given that those results would represent the
sum total of all complete hull losses for GA over a very long period of
time.

Regards,

Neil

It's not =likely= that those 100 renters would crash the same day, but
that's what they base their premiums on - likelyhood.


I'd take those kinds of odds to Las Vegas any and every day of the week.

.... and that's what insurance is all about.

Jose
--
The price of freedom is... well... freedom.
for Email, make the obvious change in the address.