cfi insurance

[Hootie9750]

my fbo wants the cfi's to have some insurance. I know there is aopa and another one (which I cant think of). Any tips on which one is best, what you need, and what you don't?

 

[larry]

If you are a poor CFI and have no actual assets insurance makes you more of a target for lawsuits. If there is nothing to be gained nobody will sue you.

 

[BoDEAN]

Falcon & AOPA



Thumbs up for AOPA's

 

[Hootie9750]

larry, im talking about deductable insurance

 

[Timebuilder]

While many schools have liability insurance to cover their instructors, hull insurance (which covers damage to the aircraft) is often overlooked. It can be very expensive to replace a plane which is a total loss.

NAFI has CFI insurance available. It may be Falcon...I haven't looked at the info for a long time.

Also, I wouldn't feel comfortable from a tort perspective just because I had few assets. Folks have been sued for their future earnings, as well. Remember, many people expect a young flight instructor to eventually make big bucks, even if that perception is wrong.

 

[midlifeflyer]

NAFI has CFI insurance available. It may be Falcon...I haven't looked at the info for a long time.

Yes, Falcon handles the NAFI policy. I thought NAFI had a slightly better deal than AOPA when I first signed up. (Falcon is also the agent for may type-clubs)

 

[midlifeflyer]

my fbo wants the cfi's to have some insurance. I know there is aopa and another one (which I cant think of). Any tips on which one is best, what you need, and what you don't?

The other one is Falcom Insurance, which handles NAFI.

What you need depends a lot on what the FBO covers and what it doesn't.

Is it just to cover the deductible? And if they "say" that, do they mean that their insurance company is waiving subrogation rights against you. I understand that it's the general practice in the industry not to enforce subrogation, but I wouldn't stake my livelihood on it. After all, the number of companies that are issuing policies is dwindling. And a insurance companies tighten their belts, we end up loosening ours...


If all you really need it to cover the deductible, and the FBO is the only place you teach, then you can go pretty minimal on the hull coverage. (If you are going to teach in someone private airplane, there are other issues). And the hull coverage is typically the most expensive part of the insurance premium.

The passenger end of liability is limited by seat, so, IMO, the difference between 1M and 500,000 doesn't really buy that much when compared with exposure.

On the straight liability for flight instruction, the cost of that is the smallest part of the premium (which dovetails nicely with what I think are the real risks), but you do get that nice cost of defense coverage, which is well worth it.

 

[Hootie9750]

actually the other one was nation air. I think the only thing I need is 5g for a deductable ($125) , and a quarter mil liability ($225) for a grand total of $350. does this sound about right to everyone?

 

[tarp]

Well the Falcon $1M smooth policy is $650/yr.

It's limit is $100K per passenger per occurence. I didn't notice the deductible but on my old policy it was $2,500. So your numbers are in the ball park.

 

[Pilotadjuster]

NAFI policy

The NAFI/Falcon Policy also carries limited legal coverage for any violation, much the same as the AOPA Legal Plan, but included in your premium. When I signed up last year, the NAFI policy was less than AOPA, but I think they are about the same. However the legal coverage seems to make it a better value in my mind.

 

[Timebuilder]

That sounds like some good advice, given your position as an insurance professional. Thanks!

 

[midlifeflyer]

Well the Falcon $1M smooth policy is $650/yr.

It's limit is $100K per passenger per occurrence. I didn't notice the deductible but on my old policy it was $2,500. So your numbers are in the ball park.

I'm not completely sure, but I though "smooth" referred to the absence of per passenger or per occurrence limits.

PilotAdjuster?

 

[Pilotadjuster]

Insurance

Thanks Timebuilder!

Always like to help when I can. Although I would much rather be more of an Aviation Professional....though with the economy like this, I'm happy to be flying at all!

As far as "smooth" limits, I am not familiar with the term. I would guess it may refer to a combined single limit (no per pass limit, just a lump sum for all), but check with an agent (maybe call the Falcon guys?).

Fly Safe