If I allow someone to borrow my aircraft, can I get a reimbursement?
Insurance companies and the policies they offer do vary on this. However, there are some companies that will permit for the repayment of some expenses connected with the flight. The broadest type enables compensation so long as no financial revenue is made. Click here to visit a website where you can find insurance agencies in your area who can help you evaluate insurance coverage.
Likewise remember that the debtor of the airplane either needs to be named as an authorized pilot on your policy or make sure they satisfy the requirements of your policy’s open pilot service warranty. It is also a smart idea to ask for the debtor to supply you with proof of Renter Aircraft Insurance.
Picture having to make an emergency landing in your aircraft. You spy a golf course listed below with a long fairway where you’re able to land the plane. Unfortunately, during the landing a golf enthusiast is clipped by a wing, your traveler suffers a neck injury, the fairway is torn to shreds, and your aircraft is damaged.
Your liability coverage consists of residential or commercial property damage (other than your very own aircraft), bodily injury outside the airplane and physical injury inside the plane.
With a smooth limit, you have the entire limitation quantity to attend to all three liability claims. This means if you guaranteed at $1,000,000 flat, you have the complete $1,000,000 to cover the claims. Policies with smooth limits are usually more pricey, but as we take a look at policies with a sublimit, you’ll comprehend why.
With a per passenger sublimit, coverage for the guest is restricted to the amount listed on the policy. For instance, if you insured at $1,000,000 integrated single limit with $100,000 per passenger, the golf enthusiast and the course would be covered under the $1,000,000 and coverage for the traveler would be restricted to $100,000.
With a per individual sublimit, your coverage quantity would be regulated not just for your traveler, however also for the golfer considering that each is a “person.” For circumstances, if you insured at $1,000,000 combined single limitation with $100,000 per individual, the course would be covered under the $1,000,000, and the golfer and the guest would be restricted to a maximum of $100,000. Because per individual sublimits are the most restrictive– and there’s almost never an associated premium savings– they ought to be avoided if at all possible. AOPA Insurance does not use a per person sublimit.