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Eliacim wrote: > Since I bought my coupe, its replacement cost has increased due > to the sport pilot rule and a major engine overhaul I just did. I > need to bite the bullet and update it's insured value... Eliacim, The long-term wisdom has been that you don't want to have your plane significantly underinsured. You are declaring how much you want to be paid if there's *any* claim and the insurance company decides it's "totaled" and remember that the insurance company owns the plane when they pay its "total" value. If you've way underinsured it, the insurance company can make a BIG profit by paying the "totaled" hull value *you* set then repairing and selling the plane or selling it for parts. I've heard reports over the years of this having happened. Being close to market value on your insurance avoids this pitfall. Also, if you are gliding down toward the rock-strewn field or a fence or trees, knowing that you are financially covered lets you more easily decide to sacrifice the airplane's structure to save your own. A bunch of people have been killed since the dawn of aviation trying to save the plane because they can't afford to lose it. Ed Burkhead http://edburkhead.com ed -at- edburkhead???.com (change -at- to @ and remove "???") ============================================================================== To leave this forum go to: http://ercoupers.com/lists.htm
