As a GA pilot who rents planes occasionally, I am looking at buying a renter's insurance policy so that I'm covered against the injury of any passengers as well as damage to the aircraft.
For bodily injury, I based the amount off of my car insurance. That is, in the neighborhood of $100,000/person. Is that assumption correct?
What I don't know is what level of aircraft damage liability is an acceptable amount. I mostly fly Cessna 152s, 172s, and Piper Warriors. Of course, it isn't worth paying for a liability that is more than the plane is worth. So what would be a good level of liability to be covered for?
Further, I understand that an FBO will have insurance on its planes. However, this insurance is to protect the FBO, not the pilot. Should the FBO's insurance affect the level of insurance I, as a renter, choose?
For reference, here are Avemco's current annual damage liability rates for single engine planes:
Limit Premium
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$1,000 $60
$5,000 $120
$10,000 $155
$15,000 $210
$20,000 $220
$25,000 $275
$30,000 $310
$35,000 $365
$40,000 $415
$45,000 $465
$50,000 $500
$55,000 $540
$60,000 $560
$65,000 $605
$70,000 $675
$75,000 $725
$80,000 $745
$100,000 $925
$150,000 $1,400
