Insurance

[BowAero]

Any experience or tips with this would be hugely appreciated!!

Lets say an airplane that a non owner will be mostly flying is ridiculously expensive to cover the hull value so the owner just wants liability only...

The non owner is aware of this and is okay with this because he/she has adequate renters insurance to cover a hull loss in event of accident.

In theory, if an accident occurs while the non owner is at the controls. Would the renters policy payout the hull loss?? I have heard “yes” and “no” from people in my community on this topic but am unsure how it works and definitely want to make sure the airplane is insured.

 

[pigpenracing]

Call the insurance company and ask.....

 

[Eldorado]

My guess would depend whether you as the renter was the cause for the damage, or was it due to a mechanical problem with the aircraft(engine, brakes, tires). You are protected if you caused the problem, but they would not pay if the engine/aircraft was the cause. I’m guessing.

 

[Jumpmaster]

And if you call the insurance company and ask, write down the name of the person you talked with, date and time of the call, and what they said as accurately as possible. Keep that writing in a place where you can find it should the need arise. And, send a copy of that writing to the person you spoke with. Don’t be surprised if you get a “clarifying” letter in return.

 

[Ted]

This is something where your insurance company should be able to clarify, and it should also be spelled out in your policy in writing what exclusions, etc. exist.

 

[Clip4]

Any experience or tips with this would be hugely appreciated!!

Lets say an airplane that a non owner will be mostly flying is ridiculously expensive to cover the hull value so the owner just wants liability only...

The non owner is aware of this and is okay with this because he/she has adequate renters insurance to cover a hull loss in event of accident.

In theory, if an accident occurs while the non owner is at the controls. Would the renters policy payout the hull loss?? I have heard “yes” and “no” from people in my community on this topic but am unsure how it works and definitely want to make sure the airplane is insured.

The renters insurance will pay zero when the insured renter makes the claim. When the owner sues the renter the insurance will represent the insured renter in the law suit. The aircraft owner will have to hire an attorney to represent him in the law suit. In the end the owner will walk away with far less than the plane is worth less his attorney fees.

 

[Warlock]

Above is the correct answer...when you become legally liable...