MuseChaser
Member
After owning a PA28-140 for many years with two partners, then buying one out, then buying the other out and becoming sole owner for the last four years or so (and that was, BY FAR, the most enjoyable part of the ownership), and coming to the realization that the ebbs and flows of my daily life made the frustrations and economic challenges of aircraft ownership outweigh the emotional and (few) practical advantages (at least for me), I (regrettably) sold my baby a week or two ago. After doing the math for the fixed costs I incur (hangar, annual) plus fuel, the break-even point for me of ownership vs renting would be thirty hours of flight time. After that, assuming no major maintenance expenses in a given year, ownership becomes less expensive than renting. Unfortunately, I've only flown more than 30 hours in a year twice in the years I've been a pilot. I'm hoping that changes, but figured, for a while, I'd continue flying as a renter and let someone else worry about scheduling the annuals and maintenance. If I find that I miss the freedom that ownership provides, I'll start the shopping process in earnest, and upgrade a bit in the process. To be determined...
Anyway, the question. The person to whom I sold my airplane is a wonderful fellow, and we have much in common. The airplane will still be spending time hangared at my home airport, unused, while he flies and travels in his more powerful high performance aircraft, and he has offered/insisted that I fly it whenever it's here, and has gone so far as to place me on his policy as a "named pilot." This, obviously, means a great deal to me, and is a tremendous kindness. Since I will also likely be renting from the FBO on the field when the plane is not available (which will be the majority of the time), I plan on securing renter's/borrower's insurance. For the times when I am flying my previous plane as a "named pilot," does having an additional renter's/borrower's policy have any benefit? I am more concerned about liability than hull coverage; absorbing the cost of replacing the Cherokee in the unfortunate instance of a catastrophic accident would not be a difficulty.
I do miss my plane, very much, already. I put a lot of work into her over the past four years, and she looks and flies better than she has since 2004. Tough decision. Thanks for any thoughts.
Anyway, the question. The person to whom I sold my airplane is a wonderful fellow, and we have much in common. The airplane will still be spending time hangared at my home airport, unused, while he flies and travels in his more powerful high performance aircraft, and he has offered/insisted that I fly it whenever it's here, and has gone so far as to place me on his policy as a "named pilot." This, obviously, means a great deal to me, and is a tremendous kindness. Since I will also likely be renting from the FBO on the field when the plane is not available (which will be the majority of the time), I plan on securing renter's/borrower's insurance. For the times when I am flying my previous plane as a "named pilot," does having an additional renter's/borrower's policy have any benefit? I am more concerned about liability than hull coverage; absorbing the cost of replacing the Cherokee in the unfortunate instance of a catastrophic accident would not be a difficulty.
I do miss my plane, very much, already. I put a lot of work into her over the past four years, and she looks and flies better than she has since 2004. Tough decision. Thanks for any thoughts.
We too no longer own because we don’t have the mission anymore to justify the costs. Agree about liability coverage!
