Just a quick comment about aircraft insurance. Recently there was an article about aviation insurance that has generated a number of questions for aircraft owners. Its a good article but also creates some confusion.
I would recommend after you read the article you call your broker/agent and ask them the question about your specific situation.
For example, can you get higher limits of liability? While most risk managers, lawyers and financial advisers will tell you to buy higher (combined single limits with no sub-limits per passenger (smooth limits)) say like 5 million or 10 million of liability, the reality is you cant.
The limits of liability available will be dependent on your your specific situation. Its very difficult to get higher limits on experimental aircraft, old aircraft, low time or old pilots. So just because its recommend to buy higher limits, it might not be possible.
But always ask. As an agent we can ask the underwriters for options.