I’ve often wondered, what are the true reasons you buy airplane insurance? Because you believe you need it? Because you have to? Maybe you believe airplane insurance a good deal? We all might be worried from time to time what could happen and what if we need insurance to protect our assets and our families.
You also might be in a situation where you are required to buy insurance. If you have a loan on your airplane, sometimes the bank requires insurance. Or maybe you are renting a hangar and the airport requires insurance. Perhaps you’re in an airplane partnership and you’ve agreed with your partners that the partnership will buy insurance.
Then there is the possibility that you see insurance as a good deal. Past experience with an accident may cause you to view insurance as a good method of protection from the stuff that may happen.
There are many reasons people buy insurance, and there are many reasons people don’t buy insurance. Whatever your reason, I’d like to know why you either buy or don’t buy airplane insurance. Please drop me a short e-mail and let me know. I’ll get back to you on this topic in a couple of weeks with your feedback and some additional thoughts. Meanwhile, have fun and be safe flying!