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  #21  
Old 06-18-2019, 12:53 PM
Jonathan Alvord Jonathan Alvord is offline
 
Join Date: Feb 2018
Location: Prosser, WA
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When I was getting my ASEL and looking for a RV7A I was getting quotes for $3500, however if I had my PPL ASEL before purchasing plane it was only $1100 year. Was worth the wait. Did the ASEL in a rental 172 (tax free as a student), bought the RV7A with 42hrs total time, then transitioned on the delivery home (and a few more days at the end of the delivery with Mike Seager!) Really was money well spent!
Jon
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  #22  
Old 06-18-2019, 01:15 PM
isosceles isosceles is offline
 
Join Date: Jan 2018
Location: Fremont
Posts: 59
Default Renters insurance

Renter's insurance has more downsides.

For example, if a "renter" pilot has a bird strike, the renter's insurance will decline to pay because it's not a renter's fault! The owner's insurance will also decline to pay because the pilot is not approved.

And yes, I verified the information above with the agent when I had a renter's insurance (as far as i remember I spoke with avemco, but they are all the same).
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  #23  
Old 06-18-2019, 01:47 PM
BobTurner BobTurner is offline
 
Join Date: Dec 2011
Location: Livermore, CA
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Quote:
Originally Posted by odens_14 View Post
You couldn't charge rent without a LODA .
Just to be clear, the FAA will not issue a LODA (waiver) allowing a charge to be made for student pilot training - only for transition training.
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  #24  
Old 06-18-2019, 04:08 PM
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Sam Buchanan Sam Buchanan is offline
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Join Date: Dec 2004
Location: North Alabama
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Quote:
Originally Posted by isosceles View Post
Renter's insurance has more downsides.

For example, if a "renter" pilot has a bird strike, the renter's insurance will decline to pay because it's not a renter's fault! The owner's insurance will also decline to pay because the pilot is not approved.

And yes, I verified the information above with the agent when I had a renter's insurance (as far as i remember I spoke with avemco, but they are all the same).
And...as I understand it, if a claim is paid to a renter, the insurer then sues the owner of the plane to recover their loss.
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  #25  
Old 06-18-2019, 04:42 PM
flyinhood flyinhood is offline
 
Join Date: Aug 2015
Location: 52F
Posts: 187
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I have heard of this the other way too.

Lets say I fly a friends plane and something bad happens. My friends insurance will pay him than sue me unless I am named with a waiver of subrogation.

Unfortunately I have had to insist on the waiver if they would like training in their plane.

I Have also carried CFI insurance in case something really bad happens.

Too bad that's the world we live in.
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Last edited by flyinhood : 06-18-2019 at 05:02 PM.
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  #26  
Old 06-19-2019, 08:33 AM
tgibbs tgibbs is offline
 
Join Date: Jun 2012
Location: Winchester, CA
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Quote:
Originally Posted by flyinhood View Post
I have heard of this the other way too.

Lets say I fly a friends plane and something bad happens. My friends insurance will pay him than sue me unless I am named with a waiver of subrogation.

Unfortunately I have had to insist on the waiver if they would like training in their plane.

I Have also carried CFI insurance in case something really bad happens.

Too bad that's the world we live in.
The two insurance companies I work with have never heard of an insurance company suing after an accident. Basically he said my airplanes weren?t worth enough to go to court over. Maybe if it was a half million or more and the pilot crashing the airplane was flat out negligent.

Have you heard about it happening anywhere?
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  #27  
Old 06-19-2019, 09:33 AM
SPX SPX is offline
 
Join Date: Dec 2018
Location: San Diego
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Quote:
Originally Posted by tgibbs View Post
The two insurance companies I work with have never heard of an insurance company suing after an accident. Basically he said my airplanes weren?t worth enough to go to court over. Maybe if it was a half million or more and the pilot crashing the airplane was flat out negligent.

Have you heard about it happening anywhere?
I have personal knowledge of the insurance company suing after a $60,000 hull loss on a Piper Comanche, on a $100,000 liability policy.
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  #28  
Old 06-19-2019, 09:56 AM
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N402RH N402RH is offline
 
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Our solution was to buy a Cessna 150 Aerobat, my middle son passed his check ride in it last fall after about 2 months and my daughter is working on her pilots license. Insurance on it is $960 a year with 4 named pilots (2 students) at a value of $41K. We have owned it for about 9 months and it looks like the prices on them have significantly increased. It is ADS-B compliant and IFR capable with a 430W so they can also do their IFR training in it.




Rob Hickman
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  #29  
Old 06-19-2019, 11:28 AM
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Sam Buchanan Sam Buchanan is offline
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Location: North Alabama
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Quote:
Originally Posted by Sam Buchanan View Post
And...as I understand it, if a claim is paid to a renter, the insurer then sues the owner of the plane to recover their loss.
Quote:
Originally Posted by tgibbs View Post
The two insurance companies I work with have never heard of an insurance company suing after an accident. Basically he said my airplanes weren?t worth enough to go to court over. Maybe if it was a half million or more and the pilot crashing the airplane was flat out negligent.

Have you heard about it happening anywhere?
I think the more proper term is subrogation.
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  #30  
Old 06-19-2019, 11:07 PM
tgibbs tgibbs is offline
 
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Location: Winchester, CA
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Quote:
Originally Posted by SPX View Post
I have personal knowledge of the insurance company suing after a $60,000 hull loss on a Piper Comanche, on a $100,000 liability policy.
Any more background? I assume they where flying on the open pilot policy and something happened, could you elaborate some? Thanks
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