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Why A Club
Insurance
Checkout Requirements
Become a Member
Monthly Meetings
Events
Resources
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Insurance Policy
The TSS Flying Club is currently insured for a hull and liability
with AIG.
All members of TSS are additional named insureds under the
policy. This means that AIG will not come after you for any
claims that they pay out (probably not the case for FBO rentals).
Liability
We have overall coverage of $1M per accident or incident with
sublimits of $100,000 per person killed or injured. These sublimits
have caused many club members to purchase renter's insurance from
AIG,
AVEMCO, AOPA,
and/or other places to have additional liability coverage. In
today's world, the $100,000 sublimit does not protect a member's
personal assets sufficiently. Because your percentage ownership
of any one place is so small, these insurers consider you eligible
for their non-owner/renter policies. Since 1973, there have
been no accidents in which there was personal injury.
Hull (collision in automobile terms)
We have a $1,000 deductible in the policy. The club bylaws allow
the Board not to file a claim and to assess a member no more than
$5,000 for a non-filed claim. If a member is involved in an accident
or incident that causes the insurer to deny coverage to the club
and to the member involved, then the member is liable to the club
for the total loss to the club. NOTE: The $5,000 limit is exceeded
*ONLY* in a case where the denial of the insurance coverage is
caused by the member's own gross negligence in failing to follow
the published insurance rules.
Examples
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Situation
* While on the ground, a member pushed the
airplane into an immovable object causing $3,000 to $4,500
of tail damage.
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Result
* The Board did not file a claim and had
the member pay for the repair.
* AIG gives us a significant discount on our hull coverages
if we have two claim-free years in a row. All accidents
are reported to our insurer but only the ones in which claims
are filed and the insurer pays are the black marks that
cause us to lose the "good conduct" discount.
This is one reason why the Board prefers not to file claims
when a member's conduct is less than "stellar."
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* Partial gear failure caused by a mechanical
problem not induced or caused by a member.
* Repair of bird strike damage to a wing.
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* The club paid the deductible and did not
assess the member. All members share in these risks -- an
advantage of a club.
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* Having an expired medical (don't think
this can't happen)
* Not meeting club and AIG checkout requirements.
* Not being current per club and AIG requirements.
* Lacking current biennial flight review.
* Allowing a non-member to take off or land
a plane and an accident occurs.
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* Coverage
would be denied.
Please note this is a partial list of items which could
cause a denial of coverage. Consult the insurance policy for
exact information. |
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