Insurance question

[Red-Baron]

Hi all,

it looks like I landed my first job as a CFI, I’ll be working as an independent contractor, which means I have to take care about insurance myself. I have to admit, I don’t have a clue, so any advice is appreciated, what type or kind of insurance do I need, (I guess probably liability is a MUST HAVE) anything else besides that? What are good insurance companies and how much does it cost. How about AOPA, do they offer insurance? I’m not an AOPA member yet, but I’ll probably be joining the club soon.
Thanks for the advice folks!

Cheers


PS. Does anybody here have any advice regarding health insurance (my employer pays 50%).

[mojo6911]

Do you own any assets? If not, I wouldn't worry too much about having liability insurance, but your city/state/whatever may require it. AOPA's CFI insurance was less than $500 a year, and is deductible against your income. You can get an online quote in less than 5 minutes.

Health insurance: Just search online. There are places where you can compare different plans and pick what suits you.

[mooneyguy]

Well, Just give AOPA or avemco a call and tell them you need cfi coverage and they will walk you through it!

If you intend on flying twins, call avemco...AOPA even told me to call them because their rates on multi is to high!

But let them walk you through it so they can help you determine what YOU need!

CFI coverage is just renters insurance. Yes you would want Liability, and probably some hull coverage! Sorry but not having liability...thats bad advice! A judgment against you for property damage will stay with you (and your credit records) for as long as you owe it!

Just a side note to joining AOPA. Their annual memberships is $39, However when you sign up they give you choice of their AOPA training magazine and their regular AOPA magazine...if you choose the training mag your membership will only be $29. Yeah its only $10 savings, but hey you're a pilot which means you probably dont have alot of money

[BajtheJino]

Liability? I don't know. I never carried insurance. The planes were covered so theres that and then on top of everything else the students were required to sign a waiver releasing me from all future lawsuits. Sure they could still sue me or their estate could but what are they going to take from me? My student loan debt? My car payment? If they garnish my wages I'll just move to another country or quit working and get on the Dole!

[SIUav8er]

Originally Posted by mooneyguy

Just a side note to joining AOPA. Their annual memberships is $39, However when you sign up they give you choice of their AOPA training magazine and their regular AOPA magazine...if you choose the training mag your membership will only be $29. Yeah its only $10 savings, but hey you're a pilot which means you probably dont have alot of money

Thats interesting. ive been an AOPA member for 5 years and I receive flight training but i still get charged $39

[Red-Baron]

Hi,

Thanks for the advice so far, I appreciate! I believe liability is probably a good thing to have, I’ll get in touch with AOPA and see what they tell me.

Happy landings