As of October 2017, the aircraft are insured with liability limits of $100,000 per person and $1,000,000 per occurrence. Medical payments are covered to a level of $3,000 per person and $18,000 per occurrence. Hull insurance is covered above a $250 deductible for not-in-motion and $1,000 in-motion. Coverage only applies when the aircraft are operated by a corporation member with a current medical and flight review as required by FAA regulations, current in the aircraft being flown, and in compliance with all of the FAR.
Each member is responsible to the full deductible amount during the time he or she is in possession of the corporation aircraft. That is, if the plane is damaged, whether through carelessness or not, the member who is signed out for the aircraft is responsible for the first $250 or $1000 as applicable.
Individual members can also carry supplemental insurance if they choose. Many insurers’ guidelines for rental insurance include fractional-ownership in a flying club as large as Phoenix Flyers. Talk to your agent for details.