Insurance for letting someone park in your hangar?

[dans2992]

So, if I have a hangar that’s only in use, say, 50% of the time, and I want to let others use it while I’m away, or rent the hangar to someone else for a few days/weeks, what kind of insurance coverage do I need?

Obviously, for longer term tenants, it’s easy to require them to add me as “additional insured” to their policy, but that’s not practical for a few overnights here and there.

 

[mandm]

Sounds like a little bit of over insuring.

Your personal belongings to an extent (dollar cap per item and category) are covered by your homeowners or renters policy for your personal residence.

Your airplane is covered by your airplane insurance.

Your car is covered by your auto insurance.

I guess what’s not covered is a fire in your hangar for the actual structure itself, but depending upon your ownership of the hangar there may or may not be an insurance policy.

 

[dans2992]

If I let someone park in my hangar and it “burns down” due to some cause they try to blame on me, and destroys their million dollar aircraft…. That seems like a risk worth insuring, no? Their insurance company may subrogate?

 

[Let'sgoflying!]

If you have your own hangar insurance (mine is always included in the airplane liability insurance), I think when their airplane is damaged by your hangar, you are covered (to the limits of your policy).
The aircraft owner is covered for aircraft losses by their hull policy.
If there is question about who cause the damage; the hangar electrical caused a fire damaging the airplane vs the airplane burning up damaging the hangar....then the insurance companies fight it out.

Here are some other things I am concerned about;
-hangar burns up, damaging the 1.5M Citation next door (my limits are not that high)
-hangar door falls or is taken away by wind, nailing someone ($$$$) or their car or an airplane.

 

[mandm]

I’m sure there are plenty of aircraft nearby that far exceed what any of my insurance policies would insure, anyway.

 

[Randomskylane]

Doesn’t the airport also have requirements? They require that you have xyz on your plane but joe pilot may not have that coverage when borrowing your hangar

Right?