Rod1
IMO its NOT the hull value which is the issue.
Yes it would be painful to damage or wreck your aircraft and loose that value through insurance not paying up, but the BIG worry is some third party claim going into £millions where you and your family loose everything of value you own and are effectively ruined.
Even if you dont survive your family and dependants would be the ones that suffer in your absence.
Remember too its third party claims where the Lawyers make big bucks.
While I appreciate that insurance companies do play ball in relatively small claims even when the pilot appears to have been a complete To**er I am not that confident that the same would occur in £million plus claims.
In third party claims lawyers go to where they see the honey pot being so if your an impoverished pilot living in a caravan with no dependants you probably dont have much to worry about.
On the other end of the scale if your a Graham Hill get ready for months and years of legal battles while your lifes work is removed from in front of your eyes. That is presuming you still have them after the crash.
I really feel that regulations are needed to insure third party claims are met on a No Fault basis or as a minimum that the insurance companies have to prove without reasonable doubt that the reason they are declining payment is the reason for the crash.
Pace