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Hull value for 1946 Champ

Posted: Thu Aug 08, 2013 5:53 pm
by Horatio
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

Re: Hull value for 1946 Champ

Posted: Thu Aug 08, 2013 6:20 pm
by FlyingForFun
Delete

Re: Hull value for 1946 Champ

Posted: Fri Aug 16, 2013 3:11 pm
by RyanShort1
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

Re: Hull value for 1946 Champ

Posted: Fri Aug 16, 2013 7:00 pm
by drseti
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.

Re: Hull value for 1946 Champ

Posted: Fri Aug 16, 2013 8:31 pm
by Jim Stewart
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.

Re: Hull value for 1946 Champ

Posted: Tue Aug 20, 2013 5:19 am
by Horatio
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