I'd be damn*d if I'd be using my insurance for an airplane issue. I would like to think any damage caused by an airplane would be covered by the airplane's insurance. I can't imagine they would be flying around uninsured.
It's probably like auto insurance and they don't require near enough. Your auto insurance covers any shortfalls from the other person.
Make sure to get the max coverage on UM/UIM. Cheapest insurance you can buy for when the other driver doesn't have enough coverage to pay for your injuries and damages they caused.
True but your UM bodily and property damage limits can't be more than your bi/pd liability limits, and that does get expensive.
Odd. I would bet that airports / hangars etc would require some sort of minimum liability insurance. I would if I owned an airstrip or hangar.
EXACTLY! I have been pushing this for 10 years in GA. We have about 10 agents or brokers in the legislature that have presented this in both houses, But the personal injury lawyers shut it down. The way it is now, if YOU drive my truck and hit someone, they can sue me and you, and collect off two policies. And this kind of policy already exists. It is called Non-owned auto insurance, Like people who have lost their license, and when it it time to get them back, don't own a car. Non-owned auto covers YOU, the driver, in ANY auto you drive. Tie it to your license, not your tag. Your auto liability insurance will be rated on your age, record, credit score, etc. Doesn't matter how many cars YOU own, YOU can only drive 1 at a time. You'd get separate physical damage coverage ( comp & collision) on the vehicles you needed it on. Dang, @Travlr something else we agree on!
Yeah, I admit it. You seem to be getting smarter.
Not saying that collision insurance wouldn't be attached to the car. Just liability would be attached to the driver instead of to every car parked in a driveway. And collision insurance should only cover the car you insure. If I'm driving a beat up '78 Ford pickup why should I pay for insurance to cover other people's choices? If someone wants to drive a new truck... let them pay the premiums to cover damage to their truck, not everyone else on the road. Basically "no fault" insurance which has been used in various states and results in lower premiums.
The value of a specific vehicle has nothing to do with liability rating. That comes into play when you buy property coverage... called comprehensive and collision coverage. ,Or as some call it, "full" coverage.
In Texas there is a $60K minimum requirement. That covers medical and damage. Lets say you hit a rancher with his tractor and bailer and he cant work for 3 months. How far will the insurance money go? Is that his tough luck and he is responsible for his own choices?
