CYA Protection
 

I am wondering what, if any, measures you guys are taking to protect your families in the unlikely event you injured/killed somone in a "pilot error" event.

For instance, the estate (including life insurance?) would be in jepordy. Not to mention legal fees your wife and kids would incure to defend said estate.

Some suggest an LLC for the home, and life insurance in a trust, but what other ways do you guys have to sheild your house, savings, etc.

My airline has insurance, the aircraft maker has insurance. Everyone but the crew seems somewhat covered. Just the legal fees alone could reach $100,000 +. What do you guys do?

BTW: I heard after the Comair Lexington crash, the crews family was dropped from health insurance. One of the wives was 9 mo's pregnant!

WOW!! Never even thought of this. I am interested to hear what some have done.

I do not plan on having an accident. And before you give me the argument that I carry insurance for my car, that is because the bank requires it when you take out a loan for a car.

That is an arrogant response. So you are saying that some of the people who have been involved in accidents expected it to happen? And just because you don't want something to happen doesnt mean it won't.

Note to self: do not fly on a/c when G-dog is in the cockpit.
I can't think of a single accident where the crew was "planning" to have one.

Does anyone have a serious answer? Or are we all really just burying our head in the sand and hoping we get thru this career w/o incident? I for one have my families financial well being at the top of my list. I just hope for the Buffalo/Cologan crews families the pilots had done their due diligence.

I have put anything that could be gone after is an LLC. I deposit my checks in to a separate acct and pay myself though another LLC. Ergo everything is protected.
I also have an umbrella policy for things like what you are inferring. I could not possibly cover these type of damages, but my wife and family would come out of it clean. That is the goal.

Umbrella Insurance Policy . . .
 

I carry an additional umbrella insurance policy to cover potential liabilities above an beyond standard liability coverage.

To G-Dog, a little forward thinking might do you and your family (future family?) well. After the accident you are never planning on having, and after your funeral that you are never planning on attending, and after the plaintiff's lawyers get finished bankrupting your estate, I would hope your (future) wife and (future) children will have something left to survive on while they transition to a new life without you.

Just something to think about. I am not attacking you personally.

I asked a lawyer this very question and this is my best recollection:

It's all about intent.

If you have an accident flying for a company, you are an agent for that company and are covered under the company's liability umbrella. So long as there was not a gross deviation from the FAR's, company FOM or pilot handbook that was intentional, you are covered.

So, unless you intentionaly try to take off w/out flaps where flaps are required, or intentionaly land in the middle of a thunderstorm when the airport was closed and you were warned not to, you are covered.

Also, if you intentionaly do something gross and have an accident, your personal liability policies may refuse to pay as well. A personal liability policy would cover you if you crashed a private plane on a personal flight, but again so long as you met the requirements above.

True, but that does not stop someone from suing you is civil court over awrongful death. It is conventional wisdom that they go after the biggest pot of money, but never say never.