Aviation Insurance

On Nov 16, 4:25*pm, Mark wrote:
On Nov 16, 12:48*pm, Ross wrote:





Darkwing wrote:

"Mark" wrote in message
....
I remember a couple of years ago doing a
search of where mandatory Aviation Insurance
is required for small plane owners, and it
revealed that only 3 American states had
mandatory requirements. South Carolina was
one, and I don't remember what the other 2
states were.

Well, talking to a fellow at the airport the other
day, I was telling him that the insurance for
a new low wing plane was going to eat me
alive. He then told me to look into a Delaware
offshore LLC status to buy my plane through.
He said I could also circumvent paying taxes
too.

This Delaware LLC thing looks for real to me.

---
Mark

If you're an AOPA member call their legal services line, it's free to
members.

You will get advice, but the real legal services plans are extra. I
carried during the 12 years I owned an airplane for that "just in case"..
I also carried insurance even though I owned it outright from the git go.

--

Regards, Ross
C-172F 180HP
Sold
KSWI

- Show quoted text -

Don't get me wrong. I realize that insurance is the prudent
way to go, but a CFI I spoke with said they might not write
me in a high speed experimental, and if they do, it's going
to be very expensive.

---
Mark

Mark, that gets back to my point. If the history of the experimental
is bad you'll be paying a lot of money. I'm not especially worried
about hull insurance (if you can an airplane you may be in a position
to self insure the hull) but liability is the issue. You want to not
be in a position where a bodily harm accident can lead to a suit that
may take everything you own. It's not just you being a pilot that puts
you at risk if someone thinks your pockets are deep. a lawyer may
suggest moving some liquid assets out of reach just as a matter of
prudent financial planning.

It's possible (thinking about it made my wine come out of my nose!)
Bloss may have a reasonable suggestion. Yeah, and I have a bridge
that's for sale.