Rental insurance
#1
Rental insurance
My local airport obliges everyone, solo student to ATP, to buy a rental policy as a condition to renting. AVEMCO seems to be the only game in town (if your not an AOPA member) and the rate seems high, like $250 a year with $10,000 coverage for damage. Anyone know of other providers that provide a (more reasonable rate) and take into account experience and licensing? Also in this the new normal, requiring renters insurance at FBO's? It wasn't when I learned to fly.
#3
Gets Weekends Off
Joined APC: Jan 2013
Posts: 834
My local airport obliges everyone, solo student to ATP, to buy a rental policy as a condition to renting. AVEMCO seems to be the only game in town (if your not an AOPA member) and the rate seems high, like $250 a year with $10,000 coverage for damage. Anyone know of other providers that provide a (more reasonable rate) and take into account experience and licensing? Also in this the new normal, requiring renters insurance at FBO's? It wasn't when I learned to fly.
#4
Well $250 is not a lot if you plan on renting many hours (like your working on a license or a rating). On the other hand, if your just looking to do a modest amount of renting, the additional cost, per hour, is significant. I also find the same rate fits all business out of line with normal insurance practices. My daughter cost more to me to insure on my auto insurance because of her youth and experience. Thats understandable and the logic of cost vs risk is fair. Why should I, a professional aviator, only wishing to rent a modest amount of hours pay the same yearly fee as a rookie working on his PPL and putting himself (from an insures point of view) at much greater risk due to the amount of hours he/she is flying (per year)?
The result is either I will bite my tongue and play (pay? ) the game or take my time and money somewhere else. I would guess many people don't "play" who otherwise might because of this additional cost to an already expensive pastime.
The GA industry doesn't have so many people lining up to learn and rent that it can afford to give anyone who otherwise could be spending money at the local airport a reason to go elsewhere.
The result is either I will bite my tongue and play (pay? ) the game or take my time and money somewhere else. I would guess many people don't "play" who otherwise might because of this additional cost to an already expensive pastime.
The GA industry doesn't have so many people lining up to learn and rent that it can afford to give anyone who otherwise could be spending money at the local airport a reason to go elsewhere.
#5
Flies for Fun
Joined APC: May 2012
Position: CE-172 Heavy
Posts: 358
Just my opinion, but as a MD-11 CA, I would think you would look at the $250 as a pittance and then ask the insurer how much will $1mil (or more) of renters liability cost me because I would imagine you have reached a point in your life where you have plenty to take if you were to have a bad day in a GA plane.
#6
Gets Weekends Off
Joined APC: Jan 2013
Posts: 834
Just my opinion, but as a MD-11 CA, I would think you would look at the $250 as a pittance and then ask the insurer how much will $1mil (or more) of renters liability cost me because I would imagine you have reached a point in your life where you have plenty to take if you were to have a bad day in a GA plane.
Last edited by Yoda2; 04-10-2013 at 01:07 PM. Reason: typo
#7
Just my opinion, but as a MD-11 CA, I would think you would look at the $250 as a pittance and then ask the insurer how much will $1mil (or more) of renters liability cost me because I would imagine you have reached a point in your life where you have plenty to take if you were to have a bad day in a GA plane.
Sata, I'm absolutely not saying that is the case here; however I'm thinking you haven't known too many airline captains. Think paying for a couple of ex wives and sending the kiddies to college, ad infinitum. BTW, Ya know the cute gal sitting at the bar at your layover hotel? She is not likely there by accident. That is where much of the trouble starts...
One wife, 12 year old Seinna and 7 year old Jetta TDI. I got in this gig the same way many have on this forum, living hand to mouth.
Yes, I have wasted more than $250 on too many things, but I always kick myself over waste. I figure to rent a PA-28 maybe 5 to 10 hours over the next year. Do the math, thats an additional $25 an hour, for what? My car insurance, (admittedly) costs more, but at least I will have felt I'v put something at risk.
I'd rather give it to a charity that supports children of working CFI's, than to AIG, just my opinion.
#8
You know I had a feeling this would go this direction.
One wife, 12 year old Seinna and 7 year old Jetta TDI. I got in this gig the same way many have on this forum, living hand to mouth.
Yes, I have wasted more than $250 on too many things, but I always kick myself over waste. I figure to rent a PA-28 maybe 5 to 10 hours over the next year. Do the math, thats an additional $25 an hour, for what? My car insurance, (admittedly) costs more, but at least I will have felt I'v put something at risk.
I'd rather give it to a charity that supports children of working CFI's, than to AIG, just my opinion.
One wife, 12 year old Seinna and 7 year old Jetta TDI. I got in this gig the same way many have on this forum, living hand to mouth.
Yes, I have wasted more than $250 on too many things, but I always kick myself over waste. I figure to rent a PA-28 maybe 5 to 10 hours over the next year. Do the math, thats an additional $25 an hour, for what? My car insurance, (admittedly) costs more, but at least I will have felt I'v put something at risk.
I'd rather give it to a charity that supports children of working CFI's, than to AIG, just my opinion.
I pay 4 times your amount quoted for 50 hours/year. But I do have 1mil per occurrence, 100K per pax and 100K hull. I've worked too hard to get where I'm at financially and I don't want to lose it to a suit and/or lawyer fees, be it my fault or not.
#9
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