Holladay Aviation’s fleet of aircraft and flight operations are covered by a comprehensive commercial policy that includes:
- full hull coverage for each aircraft (ranging from $20K to $90K per aircraft)
- liability coverage ($1M each occurrence, $100K per person)
There is a $2,500 deductible per claim, with no waiver of subrogation:
“If the Insured has rights to recover all or part of any payment the Company has made under this policy, those rights are transferred to the Company. The Insured must do nothing after Loss to impair them. At the request of the Company or Aviation Managers, the Insured will bring suit or transfer those rights to the Company and do whatever else is necessary to secure such rights. The Insured shall do nothing after a Loss to prejudice such rights. This condition shall not apply with respect to Coverage E – Medical Expense.”
What this means is that if the renter, as the pilot in command (the Insured) causes a loss under this policy, then the insurance Company reserves the right to sue the pilot to recover the loss. To protect themselves against this scenario, some pilots choose to purchase supplemental renter’s insurance from a third party.
Holladay Aviation does not require our renters to carry such insurance. If you choose to purchase a policy, please contact us so that we can help you select an appropriate level of hull coverage for the aircraft you will be flying. For more information or to obtain a policy quote, contact Aviation Insurance Resources.