Airport-required liability insurance for hangar owners

[Let'sgoflying!]

The airport is requiring $500K liability policy with the county as a named insured.
None of that seems unreasonable but I was wondering how available this insurance is.

Some aircraft policies likely extend in such a manner; I'll have to check mine.

If my aircraft policy is lacking, is a standalone policy available - what does it cost, and will it allow a county as a named insured?

Text below:

"Section I.Lessee should provide his own insurance coverage for any personal property located in or on the Land and is required herein to provide liability insurance in the amount of $500,000.00 with Lessor listed as a beneficiary in the event of damage to the Airport. Certificates of such required insurance shall be furnished by Lessee to Lessor and certificates presently then in effect shall be on file at all times. Any changes in those certificates must have prior written approval of Lessor."

 

[Clip4]

This is normal and your current insurance will add the airport to your policy.

 

[mondtster]

It shouldn't be too hard to get some sort of general liability policy to cover the hangar if needed. The city requires me to have a policy with $2M worth of coverage and with them being named on a hangar that I have been leasing from them. I just renewed the policy which cost $1400.

 

[Daleandee]

Check your aircraft policy as many have "premises" coverage included at no additional cost. Insurance company can give you a document showing Lessor as named on your policy. This is quite common when dealing with hangar and land lease agreements.

 

[Initial Fix]

One airport I had a hangar also required a (I think) $100k liability on my auto insurance for gate access to the hangar. They reasoned that bumping into one of the biz jets was expensive. I suspect someone did bump a jet and couldn’t pay for the damage.

 

[Jeff Oslick]

It isn't hard to get, but be clear on whether they are requiring "named insured" or "additional insured". It is usually "Additionally insured", and that is much preferred for your benefit. "Lessor as a beneficiary" is nebulous in this regard. Additionally insured means that they receive benefits after you receive benefits. Named insured means you share benefits with them from the start. Talk to your agent about this and have this clarified.

 

[NordicDave]

Very routine to have the airport as a named insured and not extra cost.

Half a $mil liability is pretty steep though.... unless you have a jet.

 

[midwestpa24]

Very common policy. Our airport requires $1M. Really is protection in case your plane catches on fire or something and damages a whole row of T-Hangars. 10 airplanes times $100k is pretty easy to imagine.

 

[luvflyin]

The airport is requiring $500K liability policy with the county as a named insured.
None of that seems unreasonable but I was wondering how available this insurance is.

Some aircraft policies likely extend in such a manner; I'll have to check mine.

If my aircraft policy is lacking, is a standalone policy available - what does it cost, and will it allow a county as a named insured?

Text below:

"Section I.Lessee should provide his own insurance coverage for any personal property located in or on the Land and is required herein to provide liability insurance in the amount of $500,000.00 with Lessor listed as a beneficiary in the event of damage to the Airport. Certificates of such required insurance shall be furnished by Lessee to Lessor and certificates presently then in effect shall be on file at all times. Any changes in those certificates must have prior written approval of Lessor."

I got it through State Farm. I'd guess it's pretty routine. I made sure the policy didn't exclude storing fuel. Seems to me I ran across that in a homeowners policy once. They didn't want you storing gas in the garage.