Dude ) wrote:
: It sounds like he has the proper expectations financially, but what about
: enjoying the plane and liability?
Flight time costs so much now, I'm flying far less than I would
like to anyway thanks to ATC fees and landing fees.

: With 3 owners you are likely to be either using it too much to get much
: rent, or not getting enough time to enjoy it yourselves. Not insuring makes
: it likely to be profitable at low rental amounts, but...
I was considering not getting hull insurance.

: With no liability, how are you planning to protect your assets from when
: someone else flies it in to a school bus?
The field requires 2 million liability and the practice field
requires 5 million so thats required and will happen.

Big issue is how often someone is likly to break it in some way.
Since 99% of its flights will be for flight instruction or an owner,
it seems ot me that the risk compaired to the costs may be justified.
If anything bad happens including something fairly minor, the
insurance company will write it off and pay me book value... i.e.
nothing. In that case, I'm better off selling it as scrap my self
where I could get more out of it depending on what happended.
Insurance doesn't cover anything minor (Less than $2500), or major
(greater than its book value) so for the 4% of its hull value I'm
paying per year, I'm not getting much real insurance aginst things
that are likly to happen. After all how many claims are for between
$2500 and $15,000?

-tim
http://web.abnormal.com