Renter Insurance

Ok Gang!
Who has the best rates for renter's insurance? I need 25,000 hull
liability, and pretty much basic injury and such. And a second question, do
any aircraft insurance companies allow payments like car insurance companies
do? Avemco's rate is $390/year, which is not bad, but they want it all up
front...which means I could not use the insurance because I couldn't afford
to fly for a few months! Kinda defeats the purpose doesn't it!!?

Patrick
student SPL
aircraft structural mech


--
Patrick Dixon
student SPL
aircraft structural mech

You really dont need the renters insurance. The most you would probably have
to pay is 1000.00 if you smashed it up.
Unless the renters are requiring it.
"W P Dixon" wrote in message
...
Ok Gang!
Who has the best rates for renter's insurance? I need 25,000 hull
liability, and pretty much basic injury and such. And a second question,
do any aircraft insurance companies allow payments like car insurance
companies do? Avemco's rate is $390/year, which is not bad, but they want
it all up front...which means I could not use the insurance because I
couldn't afford to fly for a few months! Kinda defeats the purpose
doesn't it!!?

Patrick
student SPL
aircraft structural mech


--
Patrick Dixon
student SPL
aircraft structural mech

Yep the renter requires it for solo.

Patrick

"Aluckyguess" wrote in message
...
You really dont need the renters insurance. The most you would probably
have to pay is 1000.00 if you smashed it up.
Unless the renters are requiring it.

I hope they also have owners insurance that covers renting the plane
out. Your renters insurance will ONLY cover a loss if it can be proved
to be your fault. If a tire blows out on the runway and you total the
plane, renters insurance won't cover any of that because it wasn't the
renter's fault. The owner needs to ensure their owner's policy allows
for rental.

-Robert

Yep the renter requires it for solo.

This is becoming more and more common.

A flight school on my home field recently started requiring this. They
had wrecked so many airplanes that their insurance very nearly doubled
in cost, with more restrictions and dramatically increased deductibles.
They're dealing with the issue of increased deductibles by requiring
all the renters AND all the CFI's to carry insurance. It's pretty hard
to go after a student pilot for an accident - there's too much
likelihood the CFI would be blamed for inadequate instruction - so this
way they cover all bases.

I suspect this is the future. For a long time, the prices for renting
airplanes did not keep up with the costs (while the cost of ownership,
obviously, did) to the point where renting airplanes became a very
marginal business AND it became nearly impossible to own an airplane
more cheaply than renting. This is changing - but not in a good way.
Owning isn't getting any cheaper, but renting is getting more
expensive.

Michael

Aluckyguess,

You really dont need the renters insurance. The most you would probably have
to pay is 1000.00 if you smashed it up.


Could you elaborate how you arrive at that conclusion? Two aspects would be of
interest:

1. How do you put the term "subrogation" in context with your statement?
2. How do you arrive at the number 1000 $, if I can quote you rental agreements
with deductables of 2500 and more left and right?

Thanks!

--
Thomas Borchert (EDDH)

"subrogation" is a term pilots through around to keep each other up at
night. In truth is an extreamly rare situation that is very expensive
for the insurance company. Insurance must be evaluated just as you do
any other financial decision. Its bunk to say you should buy as much
insurance as you can afford. In truth you can never assign all your
liability in life to insurance companies. Therefor, you have to decide
how much you are willing to pay to reduce your liability exposure. If
the guy has little assets there is no reason for him to buy a bunch of
insurance. You have to assume the owner has insurance that covers
himself (and the plane) when renters are flying the airplane because
renters insurance does not provide that coverage.

-Robert

On Tue, 12 Jul 2005 17:31:20 -0700, "Aluckyguess"
wrote:

You really dont need the renters insurance. The most you would probably have
to pay is 1000.00 if you smashed it up.

Dream on!

When I was in training, I had a prop strike while learning to make
wheelies in the Cub. The instructor's insurance company thought he was
on the hook for just the $2,000 deductible, but no, that's not how it
works. You're responsible for all the damage you do (or in the case,
that your student does), and the FBO's insurance company will shake
you until your pockets are empty.

He paid (his insurance company paid) for a new prop and an engine
tear-down.



-- 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

I believe you could of got out of paying any money with a good lawyer. I
could be wrong, but I dont think so.
"Cub Driver" wrote in message
...
On Tue, 12 Jul 2005 17:31:20 -0700, "Aluckyguess"
wrote:

You really dont need the renters insurance. The most you would probably
have
to pay is 1000.00 if you smashed it up.

Dream on!

When I was in training, I had a prop strike while learning to make
wheelies in the Cub. The instructor's insurance company thought he was
on the hook for just the $2,000 deductible, but no, that's not how it
works. You're responsible for all the damage you do (or in the case,
that your student does), and the FBO's insurance company will shake
you until your pockets are empty.

He paid (his insurance company paid) for a new prop and an engine
tear-down.



-- 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

Aluckyguess wrote:
I believe you could of got out of paying any money with a good lawyer. I
could be wrong, but I dont think so.

Well, I'm not certain when Dan was training, but he's in the Northeast. Ten
years ago it was cheaper to pay out $3,000 in penalties than to hire a decent
attorney to try to avoid it in New Jersey.

George Patterson
Why do men's hearts beat faster, knees get weak, throats become dry,
and they think irrationally when a woman wears leather clothing?
Because she smells like a new truck.