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Re: Self Insurance
Dennis Martin wrote:
> Dave wrote:
> >Personally, I plan to insure mine for only liability, ground operations, and
> >theft, fire, etc. I'll drop the ground operations if that costs very much.
> Sorry for the belated reply on insurance, but your idea makes sense to me.
> If any builders take your advice, I suggest setting aside the money you
> save as a "self-insurance premium." Invest it in a money market or stock
> fund, and leave it there. If you never need it, great.
I totally agree. Paying today's insurance premiums on anything is like throwing
wood on a fire that's already burning out of control. On the other hand if you
don't have you own wood pile (savings) then how much does a policy cost for say
half the "finished " value so you would have enough to rebuild in the event of
total or partial loss of your homebuilt?
Having lost an uninsured airplane I know the feeling.