Fair question.
I do 3 sorts of flying. First is work flying, which is covered by work insurance, although I do have what I do declared on my life insurance.
Second a light aircraft in a syndicate, we have syndicate insurance, which is very expensive.
Finally, I do a lot of private microlight flying. I don't have hull insurance on the grounds I can fly it myself. My £¼m third party, plus test flying risks, plus airshow risks, comes to a staggering £85 per year. Add another £300 for passenger risks which is about 1/3 of my annual microlight flying costs, and I'm afraid that my passengers get warned their uninsured by me.
G