insurance

[akarmy]

We seem to have the pro insurance side covered pretty well... now I'll put my 2 cents in for the other side.

I've been flying since 17, built 2 planes and traded for my current Kitfox. On all my planes I've carried Ground - not in motion. Even for the first flights and first years of ownership. Cost is a large part of the equation, however I also have a general aversion to insurance, and figure I trust myself more than the insurance company does. We both don't want me to crash. I like not in motion for the things that I have no chance of influencing...

Just another data point. Everyone has to decide how they want to go about it.

[Dorsal]

So here is another perhaps odd point of view.
First protecting others from my actions is my obligation so I do carry liability.
As for could I afford to loose my plane? I view that a little differently. Owning a plane is liability not an asset in my books, if my plane disappeared tomorrow my finances would improve . The question for me is not could I afford to loose my plane but could I afford to replace it and that also leads to another hard reality for me; If I am involved in an incident that does significant enough damage to my plane that I can not repair it I will very likely not replace it. The only coverage I have for my plane is rent on my hangar, but as has been stated by others this very much a personal choice.
To each their own ..... coverage

[dholly]

Thanks, good perspective for all newcomers to ownership. Personally, I ultimately do trust my abilities but feel the additional cost of ~$750 for full coverage during the first year will help lessen the distraction or worry about transitioning from heavier certified to lighter experimental, nose to tailwheel and simply gaining confidence in a 2-stroke plane. It also offers a measure of protection while I must have other named pilots on the policy, ie. CFI for tailwheel instruction. Once the floats go on, I suspect the decision will be made for me by the carriers and I'll end up with liability and ground not-in-motion-only coverage.

[Paul Z]

The cost of Full coverage depends on the Claimed Value of the aircraft. If you insue it for $40,000, or $60,00 is a BIG difference in insurance cost.