I got mine through AOPA.
https://www.aopaia.com/cfi_insurance.cfm
You can get a quote online in about 5 minutes.
I forget the coverage amounts, but I think I chose an amount higher than my (and my wife's) net worth. They do offer "professional malpractice" or something as well.
As for airplane value, the flight school I contract with required $5,000, which would cover their insurance deductible. I picked something higher than that because I was also doing freelance instruction in Bonanzas, Cirrus' and some other high-buck airplanes that could eat up $25 grand in a hurry just running off a runway.
Cost about $320 my first year with no dual given and dropped to maybe $250 or so at my renewal with maybe 500 hours dual given.
Falcon, I believe, offers something similar through the National Association of Flight Instructors (
www.nafinet.org).
Some instructors require owner clients to produce a waive of subrogation, which is basically a "I won't sue you, Mr. CFI, if something goes wrong and neither will my insurance company" (technically, I think they get the waiver from the insurance company but I don't know for certain how it works exactly.) I have no idea how effective such an avenue is.
Thanks for the replies. What kind of insurance do you instructors carry and the amounts of it if you do not mind discussing. Do you carry a policy that will cover the value of the airplane and property damages? Is there one policy you can get to cover you in multiple airplanes? And what do the rates run. Will insurance help you if something happened with a student and a lawsuit was filed?
I was covered by the flying club I was instructing at, but they closed down and I am doing it freelance right now and deciding exactly what kind of coverage I need.
I am currently instructing in 6 different owner's airplanes(Cherokee 180, Cherokee Six, Cherokee 140, Piper Arrow, Cessna 172, Commander).
Thanks for any help ya'll can give me