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Pilot Insurance  
User currently offlineFlyf15 From , joined Dec 1969, posts, RR:
Posted (14 years 5 months 4 weeks 1 day 20 hours ago) and read 1111 times:

I'm a relatively new private pilot, and just fly rented aircraft. What do I need to know as far as insurance goes? Do I need to get any? How does the rental company/FBO's insurance work?


7 replies: All unread, jump to last
User currently offlineIainhol From , joined Dec 1969, posts, RR:
Reply 1, posted (14 years 5 months 4 weeks 1 day 20 hours ago) and read 1062 times:

I signed a rental agreement which explained the insurance, I can not remember all the in's and out's of it, however it seemed to have good coverage. If you are going after life insurance (which I would be surprised at your age) that will certainly cost more as you fly!

User currently offlineFlyf15 From , joined Dec 1969, posts, RR:
Reply 2, posted (14 years 5 months 4 weeks 1 day 20 hours ago) and read 1057 times:

I forgot to add, I'm a member of AOPA, how does that contribute?

User currently offlineIllini_152 From United States of America, joined Jan 2001, 1000 posts, RR: 2
Reply 3, posted (14 years 5 months 4 weeks 1 day 18 hours ago) and read 1043 times:

I would check the rental agreement and FBO's insurence policy carefully. Many times while their policy will cover the hull and what your hull crashes into, often times it doesn't cover you.
IE- Insurence compay will pay the claim, then sue you to recover their losses. Also, many life insurece policies won't cover you in light aircraft, and those that do will cost more. Your AOPA membership does come with ten grand of coverage, but won't cover you for sport parachuting (but will if you have to bail out, go figure).

Happy contrails - I support B747Skipper and Jetguy
User currently offlineFlyf15 From , joined Dec 1969, posts, RR:
Reply 4, posted (14 years 5 months 4 weeks 1 day 16 hours ago) and read 1029 times:

Well, as I see it, here are the possible insurance claims:

Damage to the aircraft and/or things on the ground.
Bodily injury to myself, my passengers, and/or people on the ground.

It seems like the FBO's insurance only covers damage to the aircraft. What about the other possible claims?

User currently offlineIllini_152 From United States of America, joined Jan 2001, 1000 posts, RR: 2
Reply 5, posted (14 years 5 months 4 weeks 14 hours ago) and read 1006 times:

Actually, they are grouped (I could be wrong here on this, just a pilot) as

-Hull insurence, damage to the aircraft
-Liability, for what you crash into
-Medical, for your passengers injuries

From what you say, then its your baby. You crash into something, you our your estate is responsable. Many companies provide what is known as "renter's insurence" which will, depending on your policy, cover who/what you crash into, damage to the aircraft you're flying, injuries to those on the ground.

This might be something to look into if you have assets worth protecting. In this day and age, its those with deep pockets that get sued. If they see you don't have insurence and have no assests, well, you can't get blood from a turnip now can you?

Happy contrails - I support B747Skipper and Jetguy
User currently offlineJetguy From , joined Dec 1969, posts, RR:
Reply 6, posted (14 years 5 months 3 weeks 3 days 23 hours ago) and read 991 times:

Hi guys...
Sorry to take so long to respond to this thread, but this is something that is really important. If you are flying a rented, borrowed, or flying club aircraft you need to make sure you understand your personal insurance and liability status. Verify that you are personally covered while you are flying the aircraft. In the event of an accident, if you are not personally covered, you may find yourself in a position where the insurance covers the aircraft and aircraft owner (FBO) but not the pilot (you). In these cases, the insurance company will pay the owner for his covered losses and then go after the pilot (you) via the process of subrogation to recover the money that they paid out. Needless to say, this could be financially devastating for you and/or your estate. Fortunately, there are two or three aviation insurance companies that offer very reasonably priced "non-owner" aircraft insurance policies. Information on these policies is readily available at most FBOs, in most aviation magazines, or through one of your local aviation insurance agents. If you are flying a borrowed airplane you can sometimes get adequate protection by paying a slight additional charge for a "no subrogation" clause to the owner's policy.

User currently offlineSophieMaltese From United States of America, joined Feb 2001, 2064 posts, RR: 3
Reply 7, posted (14 years 5 months 2 weeks 5 days 15 hours ago) and read 957 times:

I know at the flight school where I fly there is something on the sheet we fill out each time we use a plane that says something about there being a $10,000 deductible. However, another person who flies there that is an attorney said there is nothing legally binding about this particular form. I've never worried much about it becuase I don't really have much they could take if they came after me. However, if you own property or have investments or substantial assets, I'd say renters' insurance is a good idea.

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