Hull value for 1946 Champ

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Horatio
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Hull value for 1946 Champ

Postby Horatio » Thu Aug 08, 2013 5:53 pm

I'm in the process of buying renter's insurance and I'd like some feedback from the experts on typical value for a Champ, which is what I'm training in. When buying insurance is it prudent to insure for a "retail" amount or just for the hull value (which I assume is the "totaled" value from an insurer, and significantly less than retail).

Thanks!

Horatio
SP-ASEL (tailwheel)
Luscombe 8A

FlyingForFun
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Re: Hull value for 1946 Champ

Postby FlyingForFun » Thu Aug 08, 2013 6:20 pm

Delete
Last edited by FlyingForFun on Tue Sep 17, 2013 12:49 pm, edited 1 time in total.

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RyanShort1
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Re: Hull value for 1946 Champ

Postby RyanShort1 » Fri Aug 16, 2013 3:11 pm

Horatio wrote:I'm in the process of buying renter's insurance and I'd like some feedback from the experts on typical value for a Champ, which is what I'm training in. When buying insurance is it prudent to insure for a "retail" amount or just for the hull value (which I assume is the "totaled" value from an insurer, and significantly less than retail).

Thanks!

Horatio

I would advise you to cover the entire hull value in case the owner does not have adequate coverage.

Ryan
Independent Flight Instructor at http://www.TexasTailwheel.com. Come fly tailwheel LSA's.

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drseti
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Re: Hull value for 1946 Champ

Postby drseti » Fri Aug 16, 2013 7:00 pm

The advice I give to my students and renters is to get coverage sufficient for my policy's deductible, plus one-half of the hull coverage that I carry. The rationale is that, if there's a total loss, my insurance will pay me off (less the deductible), the renter's insurance will cover the deductible, and then, if my insurance company decides to subrogate against the renter, they will likely be satisfied to recover half their damages.
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Jim Stewart
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Re: Hull value for 1946 Champ

Postby Jim Stewart » Fri Aug 16, 2013 8:31 pm

drseti wrote:The advice I give to my students and renters is to get coverage sufficient for my policy's deductible, plus one-half of the hull coverage that I carry. The rationale is that, if there's a total loss, my insurance will pay me off (less the deductible), the renter's insurance will cover the deductible, and then, if my insurance company decides to subrogate against the renter, they will likely be satisfied to recover half their damages.


We should be in the insurance business, not flying airplanes.
PP-ASEL, Flight Design CTSW owner.

Horatio
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Re: Hull value for 1946 Champ

Postby Horatio » Tue Aug 20, 2013 5:19 am

drseti wrote:The advice I give to my students and renters is to get coverage sufficient for my policy's deductible, plus one-half of the hull coverage that I carry. The rationale is that, if there's a total loss, my insurance will pay me off (less the deductible), the renter's insurance will cover the deductible, and then, if my insurance company decides to subrogate against the renter, they will likely be satisfied to recover half their damages.


Thanks, Paul. Good advice, as always.

Horatio
SP-ASEL (tailwheel)
Luscombe 8A


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