LLC aircraft ownership

[Slyfox]

Just trying to throw examples out here.

But getting back to the issue, yes, protect yourself by all means, have insurance and fly safe. I myself find that taking people up for rides is the most liable part of flying, so I won't do it. I have to much to loose. As far as doing something that can tear your life as you know it away I put out the fact that driving the auto is in my opinion the highest risk there is. I can kill someone on the ground so much easier in my truck than I ever could in the airplane, that is with me as sole occupant in the aircraft. I love the fact that my airplanes are white, I never get people over at my airplanes and therefore no one wants rides. I'm left alone. I'm a happy camper. Sometimes I get a little down because there is a crowd at the airplane next to me or people just walk past my aircraft, but in the end, I don't have people asking me to do what I don't feel comfortable with. In short I'm a camper. I love to fly and I do that by myself. For one, I would feel real bad if I had someone flying behind me and end up running into a cliff or something because they can't handle the type of flying I do. So again, I fly for myself and feel this is the best thing to do.

[dholly]

Yes it is sad about carrying passengers, there are times they come in handy... pushing back into the hanger... washing, waxing... hehe. 20 yrs ago, in the Oct 1990 Kitfox Owners Newsletter, Denney Aerocraft recommended and even provided a copy of a passenger liability release.

I'm sure owner/pilots feel safer taking their own along as passengers, but after an incident involving two best buddies in my group proved, the insurance co's are ultimately in control. In their quest for money they will have very little regard for the wishes of immediate families involved. Very ugly scenario that added a great deal of emotional distress to an already sad event.

[dholly]

I rec'd a reply from the ins. agent that reads in part:

Using an LLC vs. individual name as the policyholder will not change the premium. It can however, limit some of the extra coverage provided by some policies. For example, some non-commercial policies extend your liability coverage to your use of non-owned aircraft if the named insured is one individual or individual and spouse. However, when the named insured is a company name, then this coverage extension only applies if the insured aircraft is down due to servicing, repair, or loss. However, with experimental aircraft many of those extra or extended coverage are not normally included so from an insurance standpoint it’s not much of an issue. Many aircraft owners are registering their aircraft in some sort of company entity such as an LLC. I’m not an attorney but the motivation is to provide another layer of protection as well as possible tax advantages. Your attorney or accountant may be the best to answer legal advantages or tax advantages.

Looks like ins. carriers could care less how you register your E-AB.