You pay to get your payload delivered to a specified orbit. You don't actually buy the rocket.
It's like flying, you buy a ticket, not the plane.
Trying to search for a boilerplate launch contract I found an article[1] where it discusses that Spaceflight Industries bought a Falcon 9 launcher [emphasis mine] which suggests that one buys the entire rocket. That would imply that if they land it, you still own it does it not? Can you then go over to the landing zone pick up your rocket and resell it for parts to offset your original purchase price? :-)
I am really confident that ownership of the first stage is covered in the launch contract if it is returned to the landing field. And the math there would no doubt be really interesting to an insurance company since you have the possibility that the launch is a success and the first stage lands, the launch is a success and the first stage crashes, the launch effectively fails (second stage failure) but the first stage successfully returns, and both stages are lost. That is a number of different outcomes to insure.
Frankly my mind is boggling at the potential legal complexity here.
[1] https://en.wikipedia.org/wiki/AMSAT-OSCAR_16
[2] "SpaceIL has purchased launch services from Spaceflight Industries; an American space company who recently purchased a SpaceX Falcon 9 launcher and will manifest SpaceIL’s spacecraft as a co-lead spot, " -- http://lunar.xprize.org/press-release/israeli-google-lunar-x...
> And the math there would no doubt be really interesting to an insurance company since you have the possibility that the launch is a success and the first stage lands, the launch is a success and the first stage crashes, the launch effectively fails (second stage failure) but the first stage successfully returns, and both stages are lost. That is a number of different outcomes to insure.
The insurance industry already deals with far more complex scenarios. A ship on an ocean voyage will often have the hull and cargo insured separately, different loss layers insured separately (e.g. first 10% of losses, 10-20%, 20-100% all separate), with multiple underwriters on each layer (and sometimes the same underwriter on multiple stamps).
