Aircraft insurance for training

Paul Hamilton · Post by **Paul Hamilton** » Fri Apr 25, 2014 3:16 pm

The school/FBO that provides me 2 S-LSA is about to not pay the insurance which will shut down my LSA training operation. I said that I will try and find some less expensive insurance with $80,000 hull and $5000 deductable, 100,000 medical, and 1,000,000 total. They have been paying $4000 per airplane for 100,000 hull/5000 deductable but this apparantly is to much to make it work.

I know of AOPA, EAA/Falcon and Evemco to shop around but are there any other companies with reasonable rates?

Any help would be apprediated.

Best,
Paul Hamilton

garbageman · Post by **garbageman** » Fri Apr 25, 2014 4:58 pm

Paul
$4000 per year is a good rate. When I leased my P-92 to a large sport pilot school, I paid way more, and the numbers worked just fine.
David

Jim Stewart · Post by **Jim Stewart** » Fri Apr 25, 2014 5:30 pm

Rates are usually pretty competitive, which means no bargains.

drseti · Post by **drseti** » Fri Apr 25, 2014 6:01 pm

Paul, I use Falcon. For the past four years, I have been paying just under $5k for a million smooth liability, $85k hull and $1000 deductible.

langj · Post by **langj** » Sat Apr 26, 2014 10:34 am

Paul when is this suppose to take affect. I need to get my biennial done. I hope they figure it out.

drseti · Post by **drseti** » Sat Apr 26, 2014 11:32 am

As soon as you select a broker and specify coverage, when you receive your quote, ask your agent to email you a binder immediately. This is your proof that insurance is in effect, states the limits of coverage, and can be done even before you pay your premium and receive your policy.

langj · Post by **langj** » Sat Apr 26, 2014 3:15 pm

I have my renters insurance. My problem is if they shut down the use of the LSA rentals at the flight school because the school won't insure their airplanes. I am going to have to find another plane to use. I can't wait till I start /finish my plane build because then I don't have to depend on others for my airplane.

Merlinspop · Post by **Merlinspop** » Sun Apr 27, 2014 7:34 pm

langj wrote:I have my renters insurance. My problem is if they shut down the use of the LSA rentals at the flight school because the school won't insure their airplanes. I am going to have to find another plane to use. I can't wait till I start /finish my plane build because then I don't have to depend on others for my airplane.

Find out who owns the LSAs at your school. Perhaps one will lease directly to you.

Paul Hamilton · Post by **Paul Hamilton** » Mon Apr 28, 2014 8:19 am

OK it sounds like the rates are good since it is a quanity discount for a number of airplanes at the flight school. I was hoping for better. Thanks all for this info it is greatly appreciated. I can go from here.

Langj,

I should be able to put this together in Carson but as another option we have the Skycatcher in Reno ready for action no problem but he wants $25,000 instead of $5000 for renters insurance to cover loss os use which i might be able to talk him down.

MovingOn · Post by **MovingOn** » Mon Apr 28, 2014 10:32 am

.......

drseti · Post by **drseti** » Mon Apr 28, 2014 11:45 am

I recommend, but do not require, that my renters carry their own insurance. I do tell them that (1) if they opt not to carry their own insurance, they will be responsible for the $1000 deductible in case of any loss (and their renter's agreement is a contract agreeing to this), and (2) that insurance companies generally subrogate against renters in the event of a loss, so they would be strongly advised to carry renter's insurance with liability coverage equal to their assets, and hull coverage at least 50% of the replacement value of the aircraft. I also provide links on my website to three insurers that offer suitable coverage: Avemco, and the EAA and AOPA agencies. Most renters heed my advice; a few choose to self-insure, but are made aware of the risks.

langj · Post by **langj** » Wed Apr 30, 2014 12:41 am

I currently have $30,000 for insurance coverage. I upped it when I was looking at flying the skycatcher more.

Dispatchguy · Post by **Dispatchguy** » Thu Jun 05, 2014 5:12 pm

Sorry to post on a somewhat older thread. I'm new sport pilot student, so I'll be flying a LSA (prob a C162), and at least looking at the sample default policy for AOPA, one of the conditions is the aircraft holds a standard airworthiness certificate.

LSAs don't have that. Who covers an LSA?

drseti · Post by **drseti** » Thu Jun 05, 2014 5:31 pm

Dispatchguy wrote: Who covers an LSA?

There are links on my website to three insurance providers that offer renter's insurance for LSAs. See
http://avsport.org/acft/index.html and scroll down to the middle of the page.

N918KT · Post by **N918KT** » Thu Jun 05, 2014 9:25 pm

Hey drseti, when I was flight training before, I never thought about buying renters insurance for student pilots since I thought the flight school or the CFI covered me. But do most student pilots really need renters insurance for flight training? If so, how do I decipher the insurance terms like hull insurance, etc (like what do those insurance terms mean), and how much coverage do I need? Is renters insurance expensive?

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Aircraft insurance for training

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