June 2000 Issue
Keep Me Covered
Need high liability limits? If so, a new company can provide as much as $6 million, but it won’t come cheap.
Even if you’re not one of those dotcom zillionaires, if you own a moderately expensive airplane, you’ve probably accumulated a nice tidy cache of wealth you’d like to retain for your retirement years.
Owning an airplane, however, puts that wealth at risk. One of the biggest problems to face aircraft owners in recent years is the lack of higher limits of liability coverage beyond the run-of-the-mill million bucks, a sum that’s chump change by modern insurance standards.
This is an expensive problem for pilots transitioning into bigger airplanes, but it plagues everyone who needs significant limits of liability, including people who have owned the same airplane for years.
Why It H...
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