Hull Insurance as Student Pilot

[Doomer]

Hi all,

I'd like to get some feedback from other pilots to make sure I'm not being raked over the coals here...is it normal for student pilots to pay hull renter's insurance in addition to flight training? I'm assuming this is only when I'm acting as PIC and not receiving dual.

This school is charging 150/month as a "premium" member (which provides discounts on flight training) + 200/hr wet w/CFI ($230 if non-premium member) for a 172. That's fine and dandy, but then I was told that students are also responsible for providing renter's insurance. Is this normal/are these prices what other students are seeing on average around the country?

I'm shopping around for insurance - I noticed AOPA offers some to members..I see that it could be $1,800/year for a $250K - 500K coverage.

 

[TCABM]

Renter’s insurance is normal. Avemco sells renter policies and a hull liability is generally optional. These policies start at about $100/yr.

You should get very clear and easily understandable policy requirements from the school.

 

[brcase]

You need to find out what exactly the School is requiring.

1. Are they just saying that if you want renters insurance then you are responsible to do so. I.e. renters insurance is optional.
2. Are they saying they require you to have renters insurance to cover the deductible in the event of the loss. How much is the deductible.
3. Are they saying they require you to have renters insurance to cover the loss of an aircraft, and how much is that $250-500k. The only reason they should care about this is if they don't have hull insurance on their airplanes, but at the rates you are paying I would hope that they do.

Renters insurance is about protecting your assets, if you have little assets beyond a house and 401k (I understand many states primary residence and 401K are protected) then you probably don't need much hull insurance. My interpretation, but consulting an insurance agent/Attorney/ or financial advisor (I am none of those) about your specific situation is recommended.

IMO if you do have some assets then the liability and potentially the Hull insurance value you select should be equal to or in excess of your vulnerable assets. Essentially you want the math to be that it makes more sense to settle with the insurance company than to try to sue you for your assets in the event of a loss.

Liability insurance is a good reason to have renters insurance, but is separate from Renters Hull insurance.

Brian
CFIIG/ASEL

 

[Juan Vallejo]

Ask at a different school near by, perhaps another airport. A bit expensive.

 

[Clip4]

Hi all,

I'd like to get some feedback from other pilots to make sure I'm not being raked over the coals here...is it normal for student pilots to pay hull renter's insurance in addition to flight training? I'm assuming this is only when I'm acting as PIC and not receiving dual.

This school is charging 150/month as a "premium" member (which provides discounts on flight training) + 200/hr wet w/CFI ($230 if non-premium member) for a 172. That's fine and dandy, but then I was told that students are also responsible for providing renter's insurance. Is this normal/are these prices what other students are seeing on average around the country?

I'm shopping around for insurance - I noticed AOPA offers some to members..I see that it could be $1,800/year for a $250K - 500K coverage.

Your school’s rates are on the upper end of the price range unless you are in a very high cost of living market.

 

[G-force]

Find out how much insurance they want you to have. The FBO I rent at wants I think 5 or 10 grand, just to cover their deductable. I understand this, you total their $100k plane, their insurance pays them off less their $5k deductable, why should they be out $5k for what you did? I think I pay about $225 a year from Avemco for $10k of coverage.

 

[SkyChaser]

When I was a student, I got renter's insurance, the cheapest plan from AOPA. I used the six month free membership for students to knock the price down to member rates, and went with the cheapest option. My only asset was my car, and that was a 98 Escort, so I didn't have much to protect anyway. The FBO I rented from didn't require it, but it was recommended. Of course, I was paying about half of your quoted rate. I'd be less concerned about the insurance and more about paying $230/hr for a 172.

 

[schmookeeg]

As a former flight school owner who got stiffed on three deductibles at 5 grand apiece (each incident more breathtakingly stupid than the last), yeah, I'd say this is normal. Presumably they will want you to cover their deductible only. If they're asking you to carry full hull, I would ask to see THEIR commercial policy to make sure these planes are covered for mechanically-induced damages, as renters only covers damage from your actions, not from maintenance or other failure.