And most of them are insured!
This is a MAJOR DISASTER for State Farm or Farmers.
They will probably raise rates across the board after this MAJOR AIRSHOW DISASTER.
Again, my dear grasshopper, you are incorrect.
Many of these are barely insured. The cost of insuring an antique aircraft is cost prohibitive. I believe the #s quoted a few years ago are 20-60% of the appraised value - PER YEAR for replacement-type insurance.
In the pictures, you can clearly see some new and some old aircraft. These are disasters to the owners and to aviation fans. - Apparently you are not one.
Yes.
And they were purchased for a REASON. To fly from point A to point B. Rapidly.
A damaged aircraft can take six months to a year to repair to FAA requirements.
This is a huge loss for the owners who now have no aircraft and need one for business or family reasons.
Actually, very few of the light sport people are insured for hull damage. The average cost you see for the planes damaged runs between $75,000.00 to $120,00.00. Most insurance companies only offer liability type insurance for those type aircraft. The cost of a Rotex 912S is now close to $20,000.00 with the rebuild cost at about $8,000.00. For the people who lost their planes, who love to fly, and can’t afford to repair what they have lost, yes it is a major disaster.