Insurance on P-337

[djarrett]

Well Boy My Insurance Broker Just Found A Company That Would Insure Me With Only Having An Inst Profeciency Test Once Per Year Instead Of Flight Safety.
My Cfi 11 Has About 100 Hours In P-337 And Lots Of Twin Time And Pressure Plane Experience. Two Hours Later And A Through Check Ride And $160 Did The Trick. Beats Flying To California And Then Two Days Motels, Gas And $1300 For The Check Ride Etc. I'm A Happy Camper. I Only Hope I Don't Use It.
Dave Jarrett

[ipasgas1]

Who did you go through? I have about 100hrs of NA337 time and about 350hrs total and want to get a P337 but was told no one would write me.
Thanks,
Dan

[djarrett]

I have over 4500 hrs., 3000hrs pressurized, 2400 Jet, 600 hrs in skymaster Still wanted all of the hoops and In the past they only wanted flight safety every two years. who knows
My new policy is Aero space and Marine. good luck

Dave Jarrett

[stratobee]

When you guys say uninsured, what exactly do you mean?

Do you mean forfeiting hull insurance and taking the risk should it get banged up? Or do you mean not having any liability?

How does that work? Can I fly an airplane without some kind of liability insurance and what happens if cause any damage to third party?

Please explain, I'm new to all this and would like to get a better understanding.

[Ernie Martin]

Those of us with NO insurance means exactly that: none. To the best of my knowledge, there is no requirement in the US that you carry liability or any other insurance (liability is required in Mexico). Obviously, if you cause damage ot injury to others, you are liable. In a worst case situation it could wipe you out financially. If you die in the accident, you may be leaving your family destitute, depending on how your assets are titled and the state you live in (for instance, if your wife owns the home jointly with you, it is generally safe from claims, and other assets that are jointly owned, like businesses, bank and investments accounts may also be, check with an attorney). To protect my family, I have a $1,000,000 policy on my life that is owned by my wife (i.e., she's not only the beneficiary, but she owns the policy, so it's not part of my assets).

Ernie