StraightnLevel
Line Up and Wait
- Joined
- Dec 8, 2023
- Messages
- 560
- Display Name
Display name:
StraightnLevel
As I'm working through my PPL, I am starting to look at what plane to purchase when I have the cert. Part of the plan has to be insurance, right?
Here's my question: Assuming that I own the plane outright (I hate the idea of borrowing money to buy toys or luxury items), what insurance do I need to carry? Not what SHOULD I carry, but what MUST I carry?
In a nutshell, if I can afford to wad it up and walk away from the smoldering wreckage, and I have other personal liability coverage, is there any legal or operational reason that I have to have insurance at all?
[For context, when I owned and drove a couple of race cars, I had to self-insure. There is no such thing as "hull coverage" for a race car; the only policy you can buy is limited to storage and transport.]
Here's my question: Assuming that I own the plane outright (I hate the idea of borrowing money to buy toys or luxury items), what insurance do I need to carry? Not what SHOULD I carry, but what MUST I carry?
In a nutshell, if I can afford to wad it up and walk away from the smoldering wreckage, and I have other personal liability coverage, is there any legal or operational reason that I have to have insurance at all?
[For context, when I owned and drove a couple of race cars, I had to self-insure. There is no such thing as "hull coverage" for a race car; the only policy you can buy is limited to storage and transport.]