Renters insurance as a requirement.

[Ian_J]

Is this a common practice now? Went to a place to get a rental check out and after the paperwork right before we were about to go fly, they told me that to rent I'd have to get renters insurance. No harm no foul on them... But I really just planned on renting once or twice so I couldn't justify the cost and opted out. Going to look for other options tomorrow, but was just wondering if I'm going to run into this everywhere.

 

[shadows360]

Last month I was told the same thing in Arlington, Texas

 

[killbilly]

Is this a common practice now? Went to a place to get a rental check out and after the paperwork right before we were about to go fly, they told me that to rent I'd have to get renters insurance. No harm no foul on them... But I really just planned on renting once or twice so I couldn't justify the cost and opted out. Going to look for other options tomorrow, but was just wondering if I'm going to run into this everywhere.

Seems to be more common than not. The place I rent from now requires a full policy with hull coverage. (I started a thread about this a while back.) Another place has zero requirement for it, including a no-subrogation clause in their own insurance to protect you.

 

[hammerhat]

In my neck of the woods most FBOs (with only one exception) require renters insurance these days.

 

[CFIT99]

most places that are decent will require it...ours requires 100K of coverage which costs around $15 on top of our car insurance...only places I've seen not require it is Section 8 housing

 

[Ian_J]

most places that are decent will require it...ours requires 100K of coverage which costs around $15 on top of our car insurance...only places I've seen not require it is Section 8 housing

Renters insurance for planes...

 

[mshunter]

Even if they don't require it, it's still a good idea to carry it. Some deductibles can be pretty high that FBO's carry. Renters insurance can mitigate your loss.

 

[Cherokee_Cruiser]

Yup.

One airport FBO near me requires 25k for hull coverage. For their fleet of Cherokee 140s. And yeah, they have one Cherokee for sale for 14k. So by admittance, their Cherokees are only worth ~15k yet they want me to buy 25k worth of coverage?

That's just robbery.

Other places require you to purchase enough for covering the plane's deductible. That would be ~ $1,000 - $10,000 worth of coverage.

But for me to get 25k hull coverage for those Cherokees would be over $300 per year for renters insurance. Interestingly, the instructor is ~50 bucks. So a guy like me who (if) I fly GA would only do it 3-4 times year year, I may actually be better off not getting a checkout and just pay to take an instructor each time. It's pretty sad that for flying the amount I would be looking at per year in GA, it would be cheaper for me to take an instructor along than it is to buy full renters coverage.

 

[CFIT99]

Renters insurance for planes...

hahahahaha well damn probably should have read a lil deeper than that!

 

[ozziecat35]

The one place I've rented at here in Chicago had no requirement. KARR if anyone is curious. Early 2000's 172R's.

 

[drunkenbeagle]

No place I have ever flown out of in Florida requires it. And 90 day currency isn't very common here either (like I remember it being up north).

Honestly, a decent FBO should be able to price insurance into their rental rates. It is already a major expense, but at that point, they are walking over dollars to pick up nickels...

 

[CoffeeIcePapers]

Yup.

One airport FBO near me requires 25k for hull coverage. For their fleet of Cherokee 140s. And yeah, they have one Cherokee for sale for 14k. So by admittance, their Cherokees are only worth ~15k yet they want me to buy 25k worth of coverage?

That's just robbery.

Other places require you to purchase enough for covering the plane's deductible. That would be ~ $1,000 - $10,000 worth of coverage.

But for me to get 25k hull coverage for those Cherokees would be over $300 per year for renters insurance. Interestingly, the instructor is ~50 bucks. So a guy like me who (if) I fly GA would only do it 3-4 times year year, I may actually be better off not getting a checkout and just pay to take an instructor each time. It's pretty sad that for flying the amount I would be looking at per year in GA, it would be cheaper for me to take an instructor along than it is to buy full renters coverage.

If you're flying 3-4 times a year, it's probably a good idea to bring an instructor every time.

 

[tlewis95]

The only place that I have rented from that requires it has been a Decathlon in Houston. For anything tailwheel that is being rented to a large group of pilots (with varied tailwheel abilities) I totally understand and was happy to get it. I probably would have grabbed the policy anyway for peace of mind. I think it was only $170 bucks or so for the hull and liability that the FBO wanted.

For a 172 though, I would probably keep looking unless I was going to be flying it a whole lot.

 

[Cherokee_Cruiser]

Not only renters insurance but also a requirement for all renters to fly/rent every 60 days.

 

[T/O w/FSII]

LGB. Not required.

 

[DrunkenWoodpecker]

imo, a decent club must provide a no-subrogation insurance with a reasonable deductible (<=5k) included into rent and, preferably, a deductible waiver for something like $15/month. "bring your own insurance" fbo might quote slightly better rates but will cost more if you account for the cost of your insurance which is roughly 1% of the hull per year. its simply too expensive.

 

[brigadeaviator]

I had the best experience with Avemco. This twin deductibles were scary numbers for a self funded student.

 

[killbilly]

No place I have ever flown out of in Florida requires it. And 90 day currency isn't very common here either (like I remember it being up north).

Honestly, a decent FBO should be able to price insurance into their rental rates. It is already a major expense, but at that point, they are walking over dollars to pick up nickels...

The 90-day currency thing is an annoyance, but I've never rented from anywhere that didn't have it. I don't know if that's something their insurance companies require or not. As far as the renter's and insurance coverage, I think it's more about what the FBO's policy covers. In the case of the one I use now, which also requires hull coverage, it's mainly because their insurance company absolutely will subrogate against the renter to recover losses. Insurance and attorneys are one of those things everyone absolutely hates paying for until they absolutely need them. I've just resigned myself to the fact that insurance costs are a part of aviation the way I do it now. Don't really like it, but I've accepted it.

imo, a decent club must provide a no-subrogation insurance with a reasonable deductible (<=5k) included into rent and, preferably, a deductible waiver for something like $15/month. "bring your own insurance" fbo might quote slightly better rates but will cost more if you account for the cost of your insurance which is roughly 1% of the hull per year. its simply too expensive.

I've never seen a club that had a no-subrogation policy, but that's a good point to look for. There's a club I'm thinking about joining 'round here and that's something I'll ask them about.

 

[Ian_J]

The 90-day currency thing is an annoyance, but I've never rented from anywhere that didn't have it.

No place I have ever flown out of in Florida requires it. And 90 day currency isn't very common here either (like I remember it being up north).

That was actually another question I had. This place had a 30 day currency requirement which I thought was a little stringent. Heck, the Army has a 60 day currency requirement.

 

[killbilly]

That was actually another question I had. This place had a 30 day currency requirement which I thought was a little stringent. Heck, the Army has a 60 day currency requirement.

It's a funny thing. I can't tell if it's something the FBO's underwriter requires, or if it's just something they do to try and ensure a regular revenue stream.