Insurance

I passed my checkride two months ago and now rent aircraft from my flight
school.

Can anybody give me the FL20 overview of the insurance I should be carrying
and why I'll need it?

Father of three, husband of one, self employed. :~)

Thoughts?

--
Mark Deal

Because the FBO's insurance protects him, not you? If you cause damage to
his airplane, his insurance will cover his costs and then come after you.

Bob Gardner

"Mark A. Deal" wrote in message
...
I passed my checkride two months ago and now rent aircraft from my flight
school.

Can anybody give me the FL20 overview of the insurance I should be
carrying and why I'll need it?

Father of three, husband of one, self employed. :~)

Thoughts?

--
Mark Deal

"Bob Gardner" wrote in message
. ..
If you cause damage to his airplane, his insurance will cover his costs and
then come after you.

Which is why I only rent cheap, elderly airplanes, even though my FBO has a
stable of new G1000 172s. I continually wonder why everybody else flies them,
because the last time I checked (just a few weeks ago) AOPA would not even quote
you on enough renter's insurance to cover one.

Vaughn

Which is why I only rent cheap, elderly airplanes

A cheap elderly airplane can do damage to costly things and people too.
You are not covered for that without renters insurance.

Jose
--
"Never trust anything that can think for itself, if you can't see where
it keeps its brain." (chapter 10 of book 3 - Harry Potter).
for Email, make the obvious change in the address.

Vaughn Simon wrote:
"Bob Gardner" wrote in message
. ..
If you cause damage to his airplane, his insurance will cover his costs and
then come after you.

Which is why I only rent cheap, elderly airplanes, even though my FBO has a
stable of new G1000 172s. I continually wonder why everybody else flies them,
because the last time I checked (just a few weeks ago) AOPA would not even quote
you on enough renter's insurance to cover one.

What part of the AOPA renter's insurance exempts G1000 aircraft?

-Robert

Mark A. Deal wrote:
I passed my checkride two months ago and now rent aircraft from my flight
school.

Can anybody give me the FL20 overview of the insurance I should be carrying
and why I'll need it?

Father of three, husband of one, self employed. :~)

Ask at the FBO, they have a vested interest in ensuring you are
properly insured. Some FBOs (usually clubs) have insurance that
names the renters. This insurance provides you with liability and often
includes damage wavers. Right now it seems about 25/75 with 75% of FBOs
not having such coverage. If not, you can purchase such insurance
"renter's" insurance through AOPA.
However, keep well clear of some discount FBOs that do not have any
insurance and rely on renters buying renters insurance. That leaves a
very large hole in coverage and often results in the FBO trying to come
after you but your policy not covering it (i.e. if you were not at
fault). Renter's insurance *only* covers situations where you are at
fault. This is also why you cannot "borrow" your friends plane because
if a wheel falls off his policy will not cover the accident because you
were not named, and yours will not cover because you were not at fault.
Owner's policies are very, very, very strict about being named on the
policy or covered as "open pilot". Without that, they will not pay for
anything under any situation. This differs from car insurance.

However, be careful of the majority of opinons out there that you
should buy a butt load of liability coverage. In truth, life has risks
and there is no way, no how you can ever assign all your risk to an
insurance company. You must made a cost/benefit decision yourself on
how much risk you want to take and how much you want to assign to the
insurance company. Most of us would agree that $2000/yr for $10,000
coverage is not worth it for example.

Finally, remember that in aviation insurance, if your medical is 1 day
out of currency, if you don't have a current BFR ( by one day), etc
there is no coverage. There is no "grace" in aviation insurance.

-Robert

Which is why I only rent cheap, elderly airplanes, even though my FBO has a
stable of new G1000 172s. I continually wonder why everybody else flies them,
because the last time I checked (just a few weeks ago) AOPA would not even quote
you on enough renter's insurance to cover one.

What part of the AOPA renter's insurance exempts G1000 aircraft?

The fact that it tops out at $150,000 or something along those lines.
The G1000 equipped aircraft have hull values in excess of that.

The fact that it tops out at $150,000 or something along those lines.
The G1000 equipped aircraft have hull values in excess of that.

Well, it would pay =up=to= the policy limit. Most of the time, damage
to the airplane is a lot less. A gear up for example may be $10-20K.

Jose
--
"Never trust anything that can think for itself, if you can't see where
it keeps its brain." (chapter 10 of book 3 - Harry Potter).
for Email, make the obvious change in the address.

"Jose" wrote in message
m...
Which is why I only rent cheap, elderly airplanes

A cheap elderly airplane can do damage to costly things and people too. You
are not covered for that without renters insurance.

Oh I buy the insurance, but I buy just enough hull insurance to pay for the
elderly hull. It leaves me more money for actual flying.

Vaughn

"Jose" wrote in message
m...
The fact that it tops out at $150,000 or something along those lines.
The G1000 equipped aircraft have hull values in excess of that.

Well, it would pay =up=to= the policy limit. Most of the time, damage to the
airplane is a lot less. A gear up for example may be $10-20K.

"You pays your money and you takes your chances." But having insurance
that is only a fraction of the hull value of the plane I am renting is not a bet
I am willing to make at this stage of my life.

Depending on your state's laws, some people are effectively "judgment
proof" because no insurance company would waste tens of thousands just to win an
uncollectible "empty judgment" against someone with no attachable assets. In
that case, minimum (or no) renter's insurance may be just fine for you.

Vaughn