propwasher Posted March 24, 2007 Posted March 24, 2007 Looking at a flight school for some time building. Good prices but they have something called an "insurance deductable deposit". I give them $500 if I want to rent their R22. This is good for one year from the date I begin and is not returned. This is for time building only, not instruction. I'm not familiar with such a requirement. Is this common practice at flight schools? I'm a rated pilot but have never flown with this school. Kevin Quote
500E Posted March 24, 2007 Posted March 24, 2007 PW I can understand them wanting a insurance deposit but NON returnable ???If you don't bend it then divide the hours into 500 then add the figure to the hourly cost, is it still competitive ??.If I hire the understanding is that a pay the first XXX$ or the insurance excess. As I would pay with a card the hirer could add the cost\excess to the hire. Quote
Goldy Posted March 24, 2007 Posted March 24, 2007 PW I can understand them wanting a insurance deposit but NON returnable ???If you don't bend it then divide the hours into 500 then add the figure to the hourly cost, is it still competitive ??.If I hire the understanding is that a pay the first XXX$ or the insurance excess. As I would pay with a card the hirer could add the cost\excess to the hire. This is very common at the schools I have rented from. WIthout the $500 pool for the deductible you are liable for the 15K or so deductible if you wrinkle a bird. By paying the $500 per year, you owe nothing. It's expensive if you only fly once or twice a month..if you're doing 100 hours a year....its $5 per hour..not bad. Goldy Quote
propwasher Posted March 25, 2007 Author Posted March 25, 2007 This is very common at the schools I have rented from. WIthout the $500 pool for the deductible you are liable for the 15K or so deductible if you wrinkle a bird. By paying the $500 per year, you owe nothing. It's expensive if you only fly once or twice a month..if you're doing 100 hours a year....its $5 per hour..not bad. Thanks Goldy - sounds plausible but really jacks up the price per hour since I only wanted about 20 hours. Have to keep looking around. Kevin Quote
RaymondKHessel Posted March 25, 2007 Posted March 25, 2007 I'd posted a similar question in the Flight Training Forum. The school I'm planning on going to has each student pay in $550 per year to cover the deductible, regardless of whether you're flying 60 hrs or 200 hrs. I wanted to know if there are any other options for deductible insurance? Are there any insurers that will issue this sort of policy? Quote
permison Posted March 25, 2007 Posted March 25, 2007 I'd posted a similar question in the Flight Training Forum. The school I'm planning on going to has each student pay in $550 per year to cover the deductible, regardless of whether you're flying 60 hrs or 200 hrs. I wanted to know if there are any other options for deductible insurance? Are there any insurers that will issue this sort of policy? AIG will write policies through AOPA if your a member. I have it for both fixed and rotary rentals. It runs about 1K a year but will only cover small piston helicopters (R22/44, etc). Jack Quote
delorean Posted March 25, 2007 Posted March 25, 2007 AIG will write policies through AOPA if your a member. I have it for both fixed and rotary rentals. It runs about 1K a year but will only cover small piston helicopters (R22/44, etc). Jack You are the first person I've heard who actually has a policy from AOPA and not just the basic info. Can you tell us more or even post a scan of the policy itself? What was the minimum hour requirement?Was the policy written for individual tail numbers or make/models?Do you have two seperate policies or premiums for the FW and RW?What exactly do it cover?What does it say when it comes to negligence and pilot error? I just find these policies very interesting. They are expensive but seem very, very restrictive. Almost so much that you'd be better off just saving up to pay the deductable. It would be nice to hear otherwise. Thanks. Quote
permison Posted March 25, 2007 Posted March 25, 2007 You are the first person I've heard who actually has a policy from AOPA and not just the basic info. Can you tell us more or even post a scan of the policy itself? What was the minimum hour requirement?Was the policy written for individual tail numbers or make/models?Do you have two seperate policies or premiums for the FW and RW?What exactly do it cover?What does it say when it comes to negligence and pilot error? I just find these policies very interesting. They are expensive but seem very, very restrictive. Almost so much that you'd be better off just saving up to pay the deductable. It would be nice to hear otherwise. Thanks. Unfortunetly at the moment, I can't post a scan. It's in storage back in Virginia (on contract out of state at the moment). As I recall there was no minimum hour requirement how ever I am a former Army aviator with enought hours beyond the normal limit. The fixed I believe will cover me for anything single engine under 12,500 lbs. Helicopters are more specific, my covarage is limited to the R22 but no specific tail number. For more money they would cover me for another aircraft but turbines were a specific "NO". It is all one policy though. I would need to look at it for the specific covarages, next time I get home I will try to dig it out. I am on a 2 week rotation, home every other weekend for 2 days. 1K a year though is similar to the 500 a year schools are charging but the covarage is much wider. I think it is worth it, but I am not starving on a IP salary. Quote
Goldy Posted March 25, 2007 Posted March 25, 2007 You are the first person I've heard who actually has a policy from AOPA and not just the basic info. Can you tell us more or even post a scan of the policy itself? What was the minimum hour requirement?Was the policy written for individual tail numbers or make/models?Do you have two seperate policies or premiums for the FW and RW?What exactly do it cover?What does it say when it comes to negligence and pilot error? I just find these policies very interesting. They are expensive but seem very, very restrictive. Almost so much that you'd be better off just saving up to pay the deductable. It would be nice to hear otherwise. Thanks. DeLorean- I had an AOPA policy for R/W back when I was a student pilot. Then I opted to go with the school's deductible. I know there is not a min hour req..but I'm sure the hours affect the cost. I was thinking of going back to AOPA, so I could rent birds from different schools and not have to pay each $500. If you look at their website it only talks about F/W...you have to call them to get the info on R/W. Goldy Quote
RaymondKHessel Posted March 25, 2007 Posted March 25, 2007 Thanks for the info on going to AOPA. That was my first stop, but was discouraged when they didn't list an option for RW students. Quote
rotor91 Posted March 26, 2007 Posted March 26, 2007 PW At Pacific Coast Helicopters at Torrance, you can either pay the $400 per year for the insurance, or you can add $15 per hour for insurance. I choose the latter, only because I'm only flying twice a month. BUT, when I can get my CFI, PCH will pay the annual fee. R91 Quote
dlo22 Posted March 26, 2007 Posted March 26, 2007 PW yes this was news to me at my flight school as well, especially since the owner does not have haul insurance on the bird. He gave me the option of adding five hundred a year to cover the cost of the heli if I twist it up. I actually choose to not go with it for right now, cause I don't know whats going on with my trainning now, but I don't know if it is normal practice for the helicopter owners to just carry liability while running a flight school or what. I think it is kindof dumb and dangerous to not insure your heli, but on the other hand it is very expensive. I also don't know how this should pan out, if i was a full time student in their courses, and I was training with them and went on a solo cross country and experienced an engine failure, or lte or just some other mechanical failure and had to auto it in, or land it hard. should the student really be responsible for the whole heli, and not just the deductable , because the flight school owner decieded not to put hull insurance on the heli, sounds kindof risky to me. unless the student was completly negligent or doing something he was not supposed to be doing per the contract and school rules..... Quote
volition Posted March 28, 2007 Posted March 28, 2007 That depends on what they charge you for the rental fee!! If it's 100$/hour, well that 500$ is not so much, for example!! Quote
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