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  #11  
Old 10-16-2019, 10:48 PM
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erikpmort erikpmort is online now
 
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I’m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
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  #12  
Old 10-17-2019, 07:54 AM
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Dugaru Dugaru is offline
 
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Location: Richmond VA, USA
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Talking I don't doubt that "flying naked" happens but...

...here in Virginia it would be illegal. You can't fly a Virginia aircraft without a license from the state. That costs only $5 (!) and you get a nice sticker. It sounds like a bargain, but to get your $5 license you need to show that you've paid sales/use tax, you need to tell them where the aircraft is based so they can pass that off to the property tax folks (who will promptly bill you of course), AND you need to show proof of liability insurance.

What if I want to fly a Subsonex (such a cool plane) and can't get insurance? Turns out that's no problem!! I just need to deposit $250,000--cash--with the state aviation folks. Or (assuming I have really really good credit) it looks like I can obtain and give them $250,000 in "irrevocable letters of credit from a depository institution."

There's a lot to be said for flying small planes in Virginia, but the authorities are very very serious about getting their proof of insurance and $.


Quote:
Originally Posted by erikpmort View Post
I’m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
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  #13  
Old 10-17-2019, 09:49 AM
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Ironflight Ironflight is offline
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Quote:
Originally Posted by Kyle Boatright View Post
That's kinda frightening with a >$100k investment, especially when you're uninsured during the flyoff phase - probably your highest risk period from a hull loss perspective. Is that common knowledge in the Sonex jet community?
Sure, I expect everyone on the Subsonex community (all thirty or so...) know the score. It’s something to check before you buy if its on your concern list.

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Originally Posted by painless View Post
Personally, I’m more concerned with the liability side of flying without insurance. .
Liability seems to be available, and as I mentioned in my post, I purchased it even though its pretty high priced. I’m hoping that goes down with the added hours from a year’s flying.

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Originally Posted by erikpmort View Post
I’m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
Not sure what more you’d want to hear. Some people feel that life is dependent on insurance, others don't. It’s a choice we make along with the hundreds or thousands of other choices that go in to building and owning an airplane....or anything, frankly. You do what is comfortable for you in your situation.
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Last edited by Ironflight : 10-17-2019 at 10:51 AM.
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  #14  
Old 10-17-2019, 10:41 AM
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akschu akschu is offline
 
Join Date: May 2008
Location: Houston, Alaska
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Originally Posted by erikpmort View Post
I’m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
A whole lot of float plane pilots in AK are flying 100k planes uninsured as float insurance in AK is stupid expensive.

It's not unlike people that have 100k into a race car, those aren't insured either.

I flew my cessna 170 in AK for 100 hours before I insured it. After I had 100 hours in type, the insurance was reasonable. It's opened up the doors for some more cross country flying and going through Canada. Previously I was very careful about only flying in very good weather. Not that I fly in poor weather now, but the airplane is more useful when you aren't super careful to only fly on calm/sunny days.

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  #15  
Old 10-17-2019, 11:07 AM
ssturges ssturges is offline
 
Join Date: Oct 2014
Location: Portland, Oregon
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It all depends on your personal financial position, for the plane I could take the loss, it is a known thing. However for liability I will take every bit that someone will sell me.

I really can't get out of a claim that I personally have put into the plane. Also the air frame could be declared a total loss but the engine and electronics might be fully recoverable. I would end up having to buy my own plane back, this is a very common thing.

The side effect is it makes you think hard about being careful. And if I do total the airframe, then I just get to build better plane.

I have this zen like thing every time I get in a plane, "I will be safe, I will not hurt this airplane"
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  #16  
Old 10-17-2019, 02:22 PM
BobTurner BobTurner is offline
 
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Location: Livermore, CA
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Quote:
Originally Posted by NewbRVator View Post
I have this zen like thing every time I get in a plane, "I will be safe, I will not hurt this airplane"
Please change this. People have died trying to ‘save the airplane’, rather than saving themselves (e.g., refused to land in a field, tried to make the airport.) One psychological but important reason, for some, for carrying insurance, is that it makes the decision to sacrifice the airplane easier.
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  #17  
Old 10-18-2019, 07:31 AM
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BCP Boys BCP Boys is offline
 
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Quote:
Originally Posted by erikpmort View Post
I’m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
This happens all the time. I can list 10 pilots right now flying a $150K to $200K plane without insurance. Particularly with twins. . . Some 20 years ago when I bought a 310 the insurance was through the roof. At that time the airplane was worth maybe $75K and my insurance was $6500/yr. I paid that for 2 years and it only went down to $5900/yr. After the 2nd year I accepted the that I would be better off self insuring that plane. I ended up investing another $90K in to that plane and flew it for 11 more years without insurance. In the certified GA community, no insurance is not that uncommon because the annual insurance cost is many time 1/10th or 1/15th the value of the plane.
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Last edited by BCP Boys : 10-18-2019 at 07:34 AM.
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