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Personal Finance (Not Investing) • Airplane Purchase: Cash vs. Financing

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To the above, please make sure you get aviation insurance. Not only to protect the plane or any damage it may do to property, but claims against you should someone get injured.


And you must also declare that you own an airplane, to your homeowners insurance and umbrella policy.

If you are not a commercial pilot, this may significantly affect your rates (I'm guessing on this but definitely remember being asked about how experienced a pilot my husband was, type ratings, hours flown etc)
Most, if not all, homeowner and umbrella insurance policies will specifically exclude any aviation activity where the insured is acting as a crew member.

Statistics: Posted by IDpilot — Sat Apr 20, 2024 4:48 pm — Replies 36 — Views 1754



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