Renters insurance for a student - Needed?

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WDD
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Location: Louisville, KY

Renters insurance for a student - Needed?

Postby WDD » Thu Jan 04, 2018 8:28 pm

Looking to the group for advice. Should I get renter's insurance? As I understand it covers liability for the renter and covers the renter's obligation for the costs to fix the plane if you do something to it. ???

TimTaylor
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Re: Renters insurance for a student - Needed?

Postby TimTaylor » Thu Jan 04, 2018 8:51 pm

My advice is yes, get renter's insurance. I have mine through AOPA but you might find a better deal somewhere else, IDK. Your FBO's insurance company would pay the loss but could then come after you. Also, the FBO is going to look to you to cover the deductible I believe.

I worry more about hurting or killing someone on the ground. These renter policy's are not near enough if that happens, but maybe it's a very small risk. I have a personal umbrella policy that I think would cover that, but I'm not totally certain.
Commercial Pilot Airplane Single & Multiengine Land; Instrument Airplane; Sport Endorsement Airplane Single Engine Sea; Flight Instructor Airplane Single And Multiengine; Ground Instructor Advanced Instrument

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drseti
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Re: Renters insurance for a student - Needed?

Postby drseti » Thu Jan 04, 2018 11:00 pm

Here is a page on my website that covers the issue of renters insurance (and also contains links to three suitable insurance companies, for comparison shopping):

http://avsport.org/acft/insure.htm
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
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HAPPYDAN
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Re: Renters insurance for a student - Needed?

Postby HAPPYDAN » Tue Jan 09, 2018 10:34 am

Pay special attention to the "subrogation" clause (Only lawyers read that stuff). I have a basic policy through AVEMCO that is quite reasonable. After I paid for a not so good (solo) landing that damaged a nose wheel and tire, I decided to get a policy. I think if a CFI had been on board I might not have been held responsible.

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Jim Hardin
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Re: Renters insurance for a student - Needed?

Postby Jim Hardin » Tue Jan 09, 2018 5:38 pm

Good point Happydan. Often overlooked or even never heard of.

Just got a letter from an outfit that specializes in Subrogation and is representing my health insurance company. They noticed that I was admitted to a hospital after a routine procedure had complications. I have no complaints, the risks were understood but they want their money back. I guess they will go after the doctor.

Insurance companies are always looking for a way out of paying or a way to get that money back! So if you weren't wearing your prescription glasses at the time you pushed you plane into that G5 in the hanger... Wait for the call :)


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