Not the worst news ever, but close

[Davidv]

32 minutes ago, DonMuncy said:

Well guys, I have made my decision. I am going to self-insure with only liability coverage. As I told Parker, if I am willing to accept the risk of dying from flying, accepting the risk of the loss of an asset is a reasonable idea. (I know, I know, the percent risk is much higher of one, but the ultimate result of the other is much more serious.)

Seems like a good call to me.  While insurance gives you piece of mind, sometimes the premium you're going to pay doesn't make sense when you look at probabilities depending on aircraft value.  I'm not trying to jinx you (or me), but I believe there are around 7 million yearly GA flights in the US.  The accident and incident rate is tiny compared to the overall flight operations even when part 135 and turbines are removed.  Even a rate of 1% would mean that  70,000 aircraft (or around 30% of the US fleet if they were unique aircraft) had an accident or incident.  The likelihood that someone is going to damage their aircraft in a given year is far less than the 1-2% of aircraft value the insurance company is going to charge you.  I'm not arguing against hull insurance (I have mine through Parker), but rather pointing out that you aren't taking a huge risk and should sleep well at night.

Edited October 2, 2020 by Davidv

[carusoam]

Good to see the decision process... All out in the open...

With all the fine details...

It isn’t easy when you are a young buck either...  where the cost of installing a new cam can sideline you for decades...
 

I’m going to raise my orange juice glass And say a hearty cheers! 

Now alert the hangar elves! Get the plane prepped, let’s go fly!

 

The final GUMPs check is the critical one...
 

it should be Named for the guy who has lowered our insurance costs the most...

Delivered the most insight to how the insurance world actually works...

Has helped a few new MSers figure out what their insurance is going to cost to enable them to buy a Mooney...

Parker is really a memorable guy...

It would be proper to call the final Gumps check...

Doing the Parker...

might not be able to park the plane, if you don’t do the Parker...
Insurance will be lower if you do the Parker...

The plane will be flyable again if you do the Parker...
I don’t have much memory recall left... But, I still remember Parker...

Of course he also gave me a quart of oil at the last Mooney Summit... 

 

So... As you point to the little green light on the instrument panel during short final...

You can say thank you Parker, as if he was there with you... 
 

PP thoughts only, a verbal mediation skill I have seen other MSers use in the traffic pattern...
 

The rest was just my sense of humor trying to put an end to GU landings wherever possible...  hope I dind’t offend too many people... including Parker.

Best regards,

-a-

 

 

[MooneyMitch]

8 hours ago, carusoam said:

Good to see the decision process... All out in the open...

With all the fine details...

It isn’t easy when you are a young buck either...  where the cost of installing a new cam can sideline you for decades...
 

I’m going to raise my orange juice glass And say a hearty cheers! 

Now alert the hangar elves! Get the plane prepped, let’s go fly!

 

The final GUMPs check is the critical one...
 

it should be Named for the guy who has lowered our insurance costs the most...

Delivered the most insight to how the insurance world actually works...

Has helped a few new MSers figure out what their insurance is going to cost to enable them to buy a Mooney...

Parker is really a memorable guy...

It would be proper to call the final Gumps check...

Doing the Parker...

might not be able to park the plane, if you don’t do the Parker...
Insurance will be lower if you do the Parker...

The plane will be flyable again if you do the Parker...
I don’t have much memory recall left... But, I still remember Parker...

Of course he also gave me a quart of oil at the last Mooney Summit... 

 

So... As you point to the little green light on the instrument panel during short final...

You can say thank you Parker, as if he was there with you... 
 

PP thoughts only, a verbal mediation skill I have seen other MSers use in the traffic pattern...
 

The rest was just my sense of humor trying to put an end to GU landings wherever possible...  hope I dind’t offend too many people... including Parker.

Best regards,

-a-

 

 

Love it !  And he has a great passion for fine German sports cars from Stuttgart!