Doing the research for this article, we spoke with aircraft owners and insurance brokers. We came away concerned for the financial well-being of owners because we heard owners repeat some aviation insurance myths that should have died long ago and because some have signed agreements that—in certain circumstances—can negate the insurance they spent good money to buy.
• Myth 1: If I buy insurance I’m turning myself into a target. “Those plaintiff attorneys are always looking for someone to sue. If I’ve got insurance, they’ll come after me instead of going after the real cause.”