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Quote:

Originally Posted by ejpogo (Post 4034207)

Does anyone have any recommendations or any experiences using umbrella insurance or how high of a limit per occurrence one should have as a pilot??

I think that dude just left APC for the time being.

A5S

Quote:

Originally Posted by ejpogo (Post 4034207)

It seems like there is a consensus that it is better to have umbrella insurance than hope for tort reform and maybe see a unicorn, too.

I use USAA and bundle my umbrella insurance with home and auto. I am worried I may be missing out on career specific umbrella insurance?? Does anyone have any recommendations or any experiences using umbrella insurance or how high of a limit per occurrence one should have as a pilot??

There is no umbrella policy that a pilot can afford that’s going to help in the event of a major incident. One thing you can do is maintain your 401K assets within the current Fidelity program until you retire. Be careful moving them into other vehicles outside the current plan as you may loose the lawsuit shelter provided by federal law. Some states do protect IRA’s but it’s state specific so do your research.
Be aware that the biggest threat that I observed impacting pilots concerning lawsuits over the years is their children, especially when they turn 16 and start driving. A umbrella policy is an absolute necessity at that point and don’t carry them longer than needed on your policy and or register their cars in your name.

Quote:

Originally Posted by OnceAlways (Post 4034072)

I'm not the one that called him a liar or castigated him earlier on in this thread. His love of self-promotion simply invites the criticism and I'm not surprised when people assume he's spinning some tall tales. He rarely misses an opportunity to tell everyone about himself, even if the connection to the topic is tenuous at best. He's not hurting anyone but it's strange and peculiar and mildly annoying.

It's totally possible to not be a hater but to also call a spade a spade, and since I don't know him personally like it seems many of his defenders here do, my perspective might be reliably more objective in how he's coming across than to those who are already in his fan club.

But you don't need to call any spades here.

There's rarely any reason to critique other users on this forum, in the case of actual misbehavior just report it.

If you want to debate someone's opinions, fine. If you just don't like them and don't want to deal with it, just ignore them. Or add them to your ignore list if you like.

Quote:

Originally Posted by sailingfun (Post 4034422)

Be aware that the biggest threat that I observed impacting pilots concerning lawsuits over the years is their children, especially when they turn 16 and start driving. A umbrella policy is an absolute necessity at that point and don’t carry them longer than needed on your policy and or register their cars in your name.

18th birthday ritual: Go to DMV and transfer car title, and signup for own USAA account.

If you have a dependent driver under 22 you're going to find it difficult to get more than a $1M umbrella.

You can remove them from your insurance, but then you're (they're) going to be paying more for auto. And in some cases this won't help your umbrella at all since they are still your dependent.

Quote:

Originally Posted by GogglesPisano (Post 4034576)

Depends on state law.

Typically better to transfer the car and have them get their own insurance. But if they're living at home or financially dependent (college) in some jurisdictions you might still be liable. In that case, putting them on separate insurance would mean that your umbrella might not cover it, while you could still be liable. Might be better to keep them on your policy, under your umbrella.