A/C Insurance Fully Comp. or 3rd Party?

[UV]

Notwithstanding the horrendous events at Redhill recently I was wondering what the concensus was on Insurance.

Recent quotes for a light aircraft,value £45K, came out at around £1600 for fully comp., and £684 for third party and ground risks, (owner and his authorised pilots only).,

What I was wondering was how many of us go for the 3rd. Party only option? Am I in a minority? Do you think its worth the risk?

[QNH 1013]

Well, you pays your money and takes your choice...

I insure my own aircraft third-party only and that saves a lot of money, but it is not an expensive aircraft, it is a single-seater, and if I stuffed it into the ground I think I would either be so pleased to be alive that I wasn't concerned about the hull, or alternatively I wouldn't be in a position to be concerned at all.

I am in two aircraft groups, and the group aircraft are insured comprehensive, which I think is essential for a group. At least it keeps me happy.

I know many pilots of low-value aircraft who only insure third-party risks and I know at least one in the UK and one in the USA who don't insure the aircraft at all, which is thankfully still allowed in this over-regulated age. However, neither fly into airports, and most airports insist on a certain level of third-party cover.

If you can afford the risk then you will certainly save money by taking the risks yourself. However, if you can't afford the risk, then get insured up to the hilt. However, make sure your idea of the cover is the same as the insurance company's.

[QDMQDMQDM]

It depends on your attitude to life. £45K is a lot to risk.

On the other hand, for people who rebuild aircraft anyway and own relatively low value aircraft it makes sense not to bother with fully comp.

QDM

[Fly Stimulator]

UV,
You can probably guess my views. If I hadn't had comprehensive insurance I'd probably never be able to afford to own an aircraft again.

It does depend on your circumstances though - if the value of the aircraft is a significant amount for you then comprehensive insurance is probably a good plan, but if you can afford the loss then it may not be.

[LowNSlow]

My Aerobat was comprehensively insured when it was blown over in a gale and wrecked after being inadequately tied down by the club (IMHO). That paid for my Cub. Guess where I stand on 3rd party v comprehensive insurance.

I have the Auster on comprehensive as I don't think a ground loop off a landing would be covered by ground risk (despite it's name) insurance.

[springers]

I decided on third party plus ground risks by considering the risks associated with the weather conditions I fly in and the fields I fly to/from, the cost of replacing what would be bent on an untidy arrival and comparing that with the saving against fully comp.

My aircraft's on a permit to fly, so I would do my own repair work, so no outgoings there.

Fly Stimulator - wouldn't the vandal damage to your CT have been covered within the ground risks category?

S

[Davidt]

Sounds like you paying too much for £100,00.00 hull risk
I pay not much more than you!I'm with Besso.

Got an unsolicited request to quote from an outfit called Traffords who quoted £2,000.00