I currently own a Cessna 150. I'm about to have my CFI cert and looking to instruct in my plane on the side. Debating Single member llcs (SMLLC) vs sole proprietorship. I have a good paying job, but most of my money as gone to flight training. I have next to no assets to my name (Recently graduated. The plane is pretty much all I have). I think a sole proprietorship would be fine for now as it seems SMLLCs don't offer the liability protection most people think. It would cost around $600 to set up the LLC in NY so I'd like to not waste money if not needed. I had an instructor tell me the LLC is to protect you if your student crashes during a solo? I received a quote from Avemco for CFI-Owned insurance for $2200/yr. I can have 4 students at any one time and 9 total in a year. It covers students soloing. Premium does go up 10% for each new pilot after 3 have been named on the policy. I got other quotes, but they don't cover student solos. Any freelance instructors believe there is something I am missing? Advice?