Renter's Aviation Insurance
For those pilots who do not own an aircraft, we have non owner’s policies commonly referred to as renter’s insurance policies. Unlike a policy which covers only the aircraft listed, the renter’s policy will offer coverage for a wide variety of aircraft and will follow the pilot in whatever aircraft he flies or rents within the parameters of the policy.
The usual parameters for a renter’s policy are: the use must be pleasure and personal business, the aircraft must have a non-turbine engine of 450 HP or less (including non powered sailplanes) and a capacity of no more than seven total passengers. The aircraft can have a standard, experimental, or light sport certificate. Values of insurance for renter’s insurance are offered in increments of $10,000 or $20,000. They start at $5,000 and go up to $200,000. These policies are good for a year at a time. Liability limits start at $250,000 per occurrence with passengers limited to $25,000 up to limits of $1,000,000 per occurrence with passengers limited to $100,000.
The difference in premium for the lower liability limits compared to the higher limits is minimal. The lowest has a premium of $80.00 while the highest has a premium of $208.00. This is only a difference of $128.00 for considerably more protection. Renter’s insurance will cover the pilot for his negligence such as a bad landing or fuel starvation. Renter’s insurance covers the pilot for his negligence. Should an accident occur due to a malfunction of the aircraft, the owner would be responsible. It is always important to make sure that there also be a primary policy in force on an aircraft before renting or using it. This policy could either be in the name of the FBO or the private owner of the aircraft. Renter’s policies are available for student and light sport pilots. We also have policies for CFI’s seeking protection for their instruction.