Owning Your Own Airplane: Insurance Required?

[User546]

I recently over heard someone make the comment that your not required to have insurance on your airplane if your a private owner (unlike cars, where in most states you have to carry atleast liability.)

Is there any truth to this?

 

[weekendwarrior]

That is correct. You are not required to have insurance. If you get a loan on an airplane, however, the lender will most likely require you to have insurance, to protect their investment.

Now, granted it isn't required, but it's a good idea. Even if you don't cover the hull, at least cover your pax, people on the ground, etc. My Cessna 140 was about $100/month. That included a $1 million policy, and covered the $20,000 hull value.

 

[Mevans]

Also, many fields require at least liability to rent monthly a tie down or hanger.