Cap'n Arrr,
Do you always check that the insurances apply to you as a hirer or you as the pilot in command.
It always comes as a huge shock to a pilot hirer, when he or she is sued for recovery of the amount paid out to the insured, ie; the insurance underwriter is entitled to full recourse against the PIC at the time of the loss.
Most policies on private aircraft ONLY cover those named on the policy, and most certainly not anybody who flies the aircraft. Be as careful with any hire aircraft.
Don't forget, there is NO mandatory insurance requirement for aircraft used for private and aerial work, and then only for Passenger Liability for Charter and up, the hull could still have no other insurance.
$2M "combined single limit" is almost as good as no insurance, even if all the other nasties have been removed from the "standard" policies.
Do you also check that the standard clause that voids the cover, for any breach of law, even if unrelated to the accident (ie; an error is discovered on the paperwork for last 100 h/annual) has been removed from the policy.
Don't forget, aviation underwriters are not governed by most of the insurance consumer laws in place, that would otherwise ban clauses I have referred to above.
Finally, do you check that the cover is adequate, in light of each State's Damages By Aircraft Act, howsoever called. In one recent accident, a claim was made against the operator for some $70M plus for forests destroyed, and firefighting costs in the fires caused by the accident.
All this is only part of my "insurance checklist" before I touch any aircraft, except as a paying passenger.
Tootle pip!!