Sorry, Bose-X, but 3-point is absolutely right.
I accept that you do more hours than the average PPL. I don't know what kind of hours you do, and it's not really very relevant. You may or may not practice PFLs regularly, for example.
But let's assume that the engine fails during your checkout. For whatever reason (maybe you don't do PFLs often enough, maybe the instructor prefers a different technique to you and doesn't understand what you are doing) the instructor wants to take control. If you are PIC, would you let him? If he messes up the forced landing, it will be you who will have to declare to your insurance company that you've had an accident. If you decide not to let him take control (as you have every right to do, since you are PIC) and subsequently the aircraft is damaged, the club's insurance policy probably won't cover it since you had not met the club's requirements of being checked out. Will you pay?
Or, the alternative - the instructor is PIC. Now, whether the instructor decides to let you continue the forced landing, or whether he takes over himself, it is his record against which the accident and the outcome will be recorded, and there will be no query about insurance issues.
As a paying customer who doesn't need hours, I know which I'd prefer.....
FFF
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