What would you do?

In article , Judah
wrote:

No - the point is that every dollar you spend on coverage that you never
use is wasted, and any accident that costs more than your coverage means
that all of your dollars are wasted.

That's why they call it "risk" coverage.

Those of us with any understanding of mathmatics know that the odds of
winning are not in our favor. (On the positive side, the odds of losing
are greatly in our favor!)

Still, it is amusing to wager $1 on the chance of winning a much larger
sum with the odds of 1:11,000,000.

"EDR" wrote in message
...

Those of us with any understanding of mathmatics know that the odds of
winning are not in our favor. (On the positive side, the odds of losing
are greatly in our favor!)

Still, it is amusing to wager $1 on the chance of winning a much larger
sum with the odds of 1:11,000,000.

A buck for a cheap two minute thrill. Hell, two minutes with a hooker would
cost $100! (Come'on, admit it...that's the average males staying power!)

Jay Honeck wrote:

A. I'm being forced by my bank to insure the plane.

Most people would pay off the loan if they hit the lottery big enough. I would
certainly drop the hull coverage if I won. I would get the best liability package
I could find, though.

George Patterson
Great discoveries are not announced with "Eureka!". What's usually said is
"Hummmmm... That's interesting...."

L Smith wrote:

The more realistic question here would be "what would you do if you
won Sporty's contest?"

Sell the Sporty's plane, pay the taxes (about 42% of the value), and trade my Maule
in on either a bigger Maule or a Cessna 180.

George Patterson
Great discoveries are not announced with "Eureka!". What's usually said is
"Hummmmm... That's interesting...."

EDR wrote:
Those of us with any understanding of mathmatics know that the odds of
winning are not in our favor. (On the positive side, the odds of losing
are greatly in our favor!)

Still, it is amusing to wager $1 on the chance of winning a much larger
sum with the odds of 1:11,000,000.

1:135,145,920 for the Mega Millions jackpot

"Ron Natalie" writes:

"David Dyer-Bennet" wrote in message ...

I've thought about whether winning is actually any less likely than
their just sending you the check by mistake. But checking news
sources, it seems that people *do* actually win now and then,
whereas there are no documented cases of the check just being sent
to the wrong person.

The problem is not that people don't win, the problem is the EV is
horrible. That is, if you played the lottery forever, what would be
the overall return (essentially odds_of_winning*amount_won /
amount_to_play). State lotteries are horrendously bad. EV's around
.5. Even the real sucker casino games are up in the .9's.

On the other hand, the *utility* to me of a dollar every month or so
is essentially nil; it simply dissappears out of my budget without any
consequences. Whereas the *utility* of winning a few million dollars
is very high -- it would completely change my life, let me spend my
time on those things I have to fit in around work most of the time,
travel more, and so forth.

And "utility" is more real than "money" to me.
--
David Dyer-Bennet, , www.dd-b.net/dd-b/
RKBA: noguns-nomoney.com www.dd-b.net/carry/
Photos: dd-b.lighthunters.net Snapshots: www.dd-b.net/dd-b/SnapshotAlbum/
Dragaera/Steven Brust: dragaera.info/

the point is that every dollar you spend on coverage that you never
use is wasted,


So is every moment you spend on preflight when you don't find anything wrong.


and any accident that costs more than your coverage means
that all of your dollars are wasted


No, though you may end up paying the difference, you don't end up paying the
whole thing. So in that case all of your dollars went to your benefit.

Insurance isn't magic.

Jose

--
(for Email, make the obvious changes in my address)

Judah wrote
I'd probably start off buying a nice little air-taxi company. This way all
this aviation stuff might actually pay me back! Plus I might actually be
able to keep some of the money that I won...

Folks, print this out and save it. It's a business plan for making a
small fortune in aviation.

Michael

"Jay Honeck" wrote in message
news:ltMHb.683062$Tr4.1710225@attbi_s03...
Tell that to my cousin...

Your stupidity tax sure paid off for her and her family...

You can do it for me, if you please?

Tell her that she's living high off the stupidity of millions of others.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"


But I'm sure that she is thankful of the stupidity of the millions of
others. They are paying for college for her 3 kids, paid off all of their
bills and gave them an opportunity to make some really good investments...

Now if she would just loan me some money...

They way I see it, what is the difference in me spending $3 or $4 a month on
lottery tickets, or going to Vegas and blowing several thousand dollars in
the casino's?

I think I will buy a few tickets in a months time... A couple of dollars
isn't going to break me, and... you never know...