Bill, I am in the process of re-looking my hull value...and thinking about increasing it significantly to something like $30,000.
We just had a hail storm where EVERY plane on the field was "totalled" by the stones...most folks had something like $17 - $20K on the hull.
OK, so if they pay you the $17,000, there is no way you can get what you were flying (in our cases). You'd need at least $25K to replace what we were flying before the storm.
Those who opted to keep the planes (which were still airworthy) were being offered only 70% of the hull value...which is better than nothing but not nearly enough to repair all the damage.
I am going to see what an increase to 30K from 20.5K will run me and I will let you all know...right now my total coverage is about $510 a year, so even another $50 a year would be worth it to me to be able to REPLACE my C-150.
Any other thoughts on this? I'd love to hear some alternative or contrary perspectives to help me make this decision.
MM
