Third Coast Aviation LLC (“TCA“) ensures that all of our students are safe and competent in the cockpit, but we also know that renters insurance is a great way to ensure the financial well being of our students in case of any problems. We continually discuss renters insurance with our students as well as providers in the environment so that we know who to refer our students to. This was a conversation between Tony Boulanger, our director of operations, and AOPA recently:
I just got off the phone with AOPA discussing insurance requirements for flight students, and here is the recommendation from the AOPA insurance representative [that I spoke with].
There are two parts to the insurance policy:
Required Coverage which handles claims from property damage and bodily harm not associated with the flight school. The renters insurance does not cover TCA, but the student against these claims. The decision of how much insurance the student gets, is a personal decision for this part:
- $250,000/$25,000 (Each Occurrence/Passenger Sub-Limit) – $81/year
- $500,000/$50,000 – $109/year
- $500,000/$100,000 – $172/year
- $1,000,000/$100,000 – $209/year
The second part is optional, but not for students renting the aircraft. This protects against claims for damage to non-owned aircraft, including loss of use, and $5,000 each occurrence of no-fault deductible coverage. This is insurance which TCA requires in order to ensure the deductible on the airplane is met, and that the loss of use is met. This Liability goes from $5,000 to $200,000 in coverage. As such, TCA requires the $10,000 liability option provided by AOPA.
As such, a comprehensive renters’ insurance policy our students should get and maintain, is:
- Body/Property – $250,000/$25,000 -$81/year
- Liability – $10,000 -$166/year
For a total of $247 per year (Minimum coverage required)
AOPA is sending brochures and additional information to us.
As a follow up to this, TCA has the brochures available to you when you visit one of our offices.
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