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Another hangar lease question.

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Received a notice of insurance documentation, on my hangar lease. However they ask me to add to my aircraft insurance the following. "The City of Lakeland is to be listed as an additional insured on the insurance policy". Would you do this ? Why should they get paid for anything if my aircraft gets damaged ? Should it not be the other way around ?

 

Cheers

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Received a notice of insurance documentation, on my hangar lease. However they ask me to add to my aircraft insurance the following. "The City of Lakeland is to be listed as an additional insured on the insurance policy". Would you do this ? Why should they get paid for anything if my aircraft gets damaged ? Should it not be the other way around ?

 

Cheers

 

Is the City trying to say they are not liable for damage inside the hangar to your plane?  If so, that is not unusual.  Get your insurance company to write a disclaimer stating the City is not held liable for damage to your aircraft as it sits in the hangar....that should keep them happy.    If your insurance company balks then you have a bigger problem anyway.

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Being a named insured doesn't automatically entitle them to the money. Basically, what that means is that if you crash into a road, then it makes the claims process much easier for them (you make the claim and include them, insurance is obligated to pay as required by law, instead of the city having to sue for it). They still do not have any legal grounds to any of the money unless they show they were damaged by the accident.

 

It also prevents the insurance company from being able to sue the city for any reason, since they are named.

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Received a notice of insurance documentation, on my hangar lease. However they ask me to add to my aircraft insurance the following. "The City of Lakeland is to be listed as an additional insured on the insurance policy". Would you do this ? Why should they get paid for anything if my aircraft gets damaged ? Should it not be the other way around ?

 

Cheers

 

Think about it like this. If something happens to other aircraft in the adjacent hangars, like they were to burn up. If the origin of the fire is traced back to your airplane, then both you and the airport are going to share the exposure.

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Thanks for the all  comments, very useful information. Discussed it with various other hangar tenants and it appears we will have to submit to the rule. I called my insurance agent and he agreed to make the change at no extra cost.

 

Cheers

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