Does your flight school / FBO carry acceptable limits of insurance or carry any at all? Next to fuel, insurance is hands down one of the highest expenses that an FBO incurs. It would not be a surprise to find several FBOs across the country that do not carry enough insurance to meet the risks that their businesses face. You probably are asking, as a student or renter, “Why should I be concerned with the insurance of the FBO?” Today, the unfortunate reality is that it does not matter whether or not you are at-fault for a mishap; regardless, you may be drawn into a lawsuit and may find yourself requiring legal services, which quickly become costly. While having a “Renter’s” or “Non-Owned Aircraft” insurance policy often protects your personal financials, lack of insurance from an FBO may cause the public to seek compensation from the deepest pockets, potentially causing your insurance rates to increase. Even something as simple as a pedestrian’s slip and fall on an FBO’s premises may be an FBO’s responsibility. Does the FBO have the insurance to pay for those medical expenses?
Classic Wings prides itself on safety and the protection of its customers and the general public. We protect the liability of others with a $1,000,000 bodily injury and property damage limit (and $100,000 per passenger limit) for any aircraft related incident including any non-owned aircraft a Classic Wings pilot may be asked to fly or use for flight training. We also have a $1,000,000 bodily injury and property damage limit for an incident on the FBO’s premises. As Classic Wings also provides maintenance services, we maintain a $1,000,000 completed operations and products liability limit as well as a $50,000 hangerkeepers liability limit for and damages to an aircraft in our care, custody, and control. We ensure that the public is protected from anything that Classic Wings may be responsible for.
In addition, as a courtesy to any renter of a Classic Wings airplane, we offer Renter’s Liability Insurance coverage at a $100,000 limit (bodily injury and property damage only). This means any action by a renter that may cause liability damage where the renter is at-fault will be covered by us at no charge. This does not however, include any damages the Classic Wings’ aircraft itself so we recommend that a renter purchase a separate Renters Insurance policy including hull or physical damage. Such policies can be easily and quickly obtained from such agencies as AOPA Insurance Agency.