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Insurance, Business and Financial

Advice on Liability
Author Last Post
My biggest concern would be liability generated in a catastropic event, with a lot of injuries/deaths. Such an event could easly exceed your liability limits, exposing all of your personal assets to loss.
Such an event could happen with you behind the wheel too, so don't skimp on insurance limits.
 

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I am generally of the same opinion as hilltop180... I don't typically loan my airplanes and I don't fly others airplanes. I have on occasion flown others airplanes but I try to avoid it. Most policies are "open pilot" for qualified pilots (your policy should state what the qualifications are) but I figure if I want others to fly my bird I will list them on my insurance as other insured pilots. Currently, my brother is the only listed pilot of my 180 but my A&P/IA is a "qualified" pilot according to my insurance and he flies it for annuals and such.

My understanding is that as long as the pilot flying the plane is listed on the policy or is a "qualified" pilot according to the specific policy the aircraft is insured for both hull and liability.
 
Don't loan airplanes or women to anyone.

If it's that important for the guy to fly your plane, sell him half of it and share all expenses and risk.
 
I may be to cavalier about loaning my plane out.

If the pilot is on my insurance I'm covered for it's damage if he pays the deductible but I'm concerned abt injuries to others and him.

What do you guys do regarding loaning your plane to a ace Commercial pilot friend?

Rick
 
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