Lee Parker wrote:
>>Buy liability insurance then, set up an escrow account tagged KR
airplane. Put the extra money you was going to pay on insurance in that
account and if you crack it up you will probably be dollars ahead. The
only problem is if you damage someone's property.<<
I never said "don't buy liability insurance", and I certainly have that,
although I know several pilots who don't even buy that. I will say
that my "beanfield incident" cost me $47 in mowed down corn, so that is
a valid concern. But I got a lot more than $47 in assistance from the
farmer...he helped us load the plane in the truck with his Bobcat! But
yes....I do know that the wrong kind of incident could bankrupt someone
without liability insurance, which is why I carry it.
And I adopted the concept of a savings account (named "fuselage") for
airplane purposes about thirty years ago. That's how I built N56ML, and
how I'll finance my next airplane, or rebuild of N56ML, which I'm now
leaning towards doing instead. I have a huge headstart on a very nice
KR2S that I already know is an awesome airplane...
Mark Langford
m...@n56ml.com
http://www.n56ml.com
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