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    When I lived in Alaska, many of my friends were pilots, and so far as I
know not a single one carried hull insurance on their aircraft.  The
premiums were so high, somewhere around 10% of hull value per year, that
people just assumed responsibility for the risks.  When I inquired late last
year about hull insurance on my ES, I got quotes in the $4k to $6K per year
range, and likewise decided it was simply not worth it.  I carry some
liability, and rely on an umbrella liability policy to guard against
encounters of the worst kind with tort sharks.
    I also recall a conversation I had with Don Goetz, who similarly does
not carry hull insurance on his IVP.  As he explained it, if he prangs it a
little, he can fix it himself, and if he prangs it a lot, he probably won't
be around to worry about it.
    The biggest concern in my area is the risk of windstorm or flood damage,
since we live on a barrier island that is obvious hurricane bait.  [The
elevation of my hangar at Mustang Beach Airport (2R8) is about 4 feet.]  The
cost of insuring against these losses, however, would be exorbitant, so the
obvious strategy is to watch the weather forecasts and be prepared to fly
inland well ahead of any storm.
   If I carried complete insurance against every risk in my life, I'd have
to declare bankruptcy.  Besides, maybe it makes me a more careful pilot?  I
guess it's like investing: you have to assess your personal risk tolerance.

Jim Cameron,  LNCE  N82500

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