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I pay around $1200/year for full coverage on my Pacer which I keep in a hangar. It has been awhile since I reviewed the policy, but it covers flying and non flying damage to the aircraft up to an agreed value and it covers property and bodily harm to others including passengers up to a certain dollar amount. The rates can vary depending on pilot experience, whether or not it is hangared and what kind of dollar limits are desired on the liability portion.
I do not believe it is "required", but the stakes are too high IMO to not have at least liability insurance. As far as the aircraft itself... $40,000 airplane is not "chump change" to me so I also carry hull coverage YMMV.
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German autos: '79 911 SC, '87 951, '03 330i, '08 Cayenne, '13 Cayenne
0% Liberal
Men do not quit playing because they get old.... They get old because they quit playing.
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