Who needs Non-Owned Aircraft Insurance?
The short answer -- anyone who rents or borrows
an aircraft.
Unless you have access to the insurance policy for the aircraft and
read it thoroughly, you have no way of knowing if there is adequate
coverage for you if an accident occurs. You may be held legally liable
for damages to the aircraft, or even worse, injuries to others out of
your own pocket. The aircraft’s insurance policy is designed to protect
the owner of the aircraft, not the user of the aircraft, so it is
better to have your own insurance to protect yourself. This insurance
is
a relatively straightforward and inexpensive way to protect your assets
from the unexpected.
There are two types of coverage available:
- Non-Owned
Aircraft Liability: coverage for bodily injury and
property damage to others for which
you may be liable, arising out of your use of a non-owned aircraft;
excludes any physical damage to the non-owned aircraft.
- Non-Owned
Aircraft Physical Damage:
provides coverage for the physical damage
to the
non-owned aircraft for which you may be liable. This coverage is
only available when purchased with liability coverage. It can include
“deductible liability” to cover the insurance deductible on the owner’s
or lessor’s aircraft that you rent or borrow, up to $5,000 for each
occurrence regardless of fault.
Coverage is available for
private and student
pilots,
businesses and corporations, and
certified flight instructors
(CFI). There is a
standardized rate policy offered by Chartis that covers single engine
fixed wing
aircraft -- you can
download the application, select the coverage you need, and
mail it to us with your payment. Policies are also available for
turbine,
rotor
wing, and multi-engine aircraft with higher liability limits, but these
policies will need to be quoted by the
insurance company.
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