GyroRon
Former Gyro know it all
- Joined
- Oct 29, 2003
- Messages
- 16,917
- Location
- Fort Mill South Carolina
- Aircraft
- Vans RV4 / Dominator 582 Ultrawhite
- Total Flight Time
- ALOT
I took this from another thread I posted this in this morning. Thought it would be a good topic to discuss since many here have big bucks invested in their machines and others are looking to upgrade sooner or later.
Now not to pour salt on a open wound, but I think this accident may help be a wake up call for some others out there. I mean by this.... Alot of us are not rich, most of us do not have 15-40 grand of extra cash sitting around doing nothing, and no one I have met yet has a money tree in the backyard. It is so easy to crash and trash a gyro - or any aircraft for that matter. At some dollar amount a person has to stop and step back and ask themselves are they willing to accept that a small accident might total their toy and they will be out of their money.... and then they have to ask themselves if the joys of flying are worth the risk, then how much risk money wise it is worth?
Sure with a rotorcraft rating, and owning the right make and model gyro you can get insurance - Hull coverage - but this insurance costs a very big pretty penny and can add several hundred dollars per month of operating expenses, I believe most policys run around 3500-4000$ per year for most two place gyros.
I myself would love to trade in my Dominator and get a two place gyro. But I have no rotorcraft rating and simply couldn't afford or justify the cost of the insurance policy. I have more or less made a decision that the most I am willing to risk is 5-10 grand which only allows for me to own a single seat gyro. If I trashed my Dominator I would be hurting, but I wouldn't be hurting as bad as if I trashed a new Sparrowhawk with no insurance. Heck I just tore up my blades and I am hurting, I couldn't even imagine having a loan out on my house or borrowed money off a credit card to buy a expensive two place and then it ends up stolen, burned in a fire, or simply trashed due to a landing gone wrong.
In our excitement for this sport, and flying in general... We need to step back and look at worse case events and then decide how much un-insured money are we willing to risk for the joys of owning a flying these machines. I won't own a aircraft that costs me more than 10-15 grand without full hull insurance coverage and if I can't get the insurance or it costs too much, then I guess I won't be getting that aircraft. I got 42 thousand dollars tied up in my RV-4, and if I trashed it with no insurance I would be devastated. Insurance for it was 1600$ a year and so for a little over a hundred bucks a month I can relax and know that if the worse case happens I won't be out of my 42 grand and I could pay off my plane and walk away debt free. Think about it guys....
Now not to pour salt on a open wound, but I think this accident may help be a wake up call for some others out there. I mean by this.... Alot of us are not rich, most of us do not have 15-40 grand of extra cash sitting around doing nothing, and no one I have met yet has a money tree in the backyard. It is so easy to crash and trash a gyro - or any aircraft for that matter. At some dollar amount a person has to stop and step back and ask themselves are they willing to accept that a small accident might total their toy and they will be out of their money.... and then they have to ask themselves if the joys of flying are worth the risk, then how much risk money wise it is worth?
Sure with a rotorcraft rating, and owning the right make and model gyro you can get insurance - Hull coverage - but this insurance costs a very big pretty penny and can add several hundred dollars per month of operating expenses, I believe most policys run around 3500-4000$ per year for most two place gyros.
I myself would love to trade in my Dominator and get a two place gyro. But I have no rotorcraft rating and simply couldn't afford or justify the cost of the insurance policy. I have more or less made a decision that the most I am willing to risk is 5-10 grand which only allows for me to own a single seat gyro. If I trashed my Dominator I would be hurting, but I wouldn't be hurting as bad as if I trashed a new Sparrowhawk with no insurance. Heck I just tore up my blades and I am hurting, I couldn't even imagine having a loan out on my house or borrowed money off a credit card to buy a expensive two place and then it ends up stolen, burned in a fire, or simply trashed due to a landing gone wrong.
In our excitement for this sport, and flying in general... We need to step back and look at worse case events and then decide how much un-insured money are we willing to risk for the joys of owning a flying these machines. I won't own a aircraft that costs me more than 10-15 grand without full hull insurance coverage and if I can't get the insurance or it costs too much, then I guess I won't be getting that aircraft. I got 42 thousand dollars tied up in my RV-4, and if I trashed it with no insurance I would be devastated. Insurance for it was 1600$ a year and so for a little over a hundred bucks a month I can relax and know that if the worse case happens I won't be out of my 42 grand and I could pay off my plane and walk away debt free. Think about it guys....