I've been flying the Phantom since January of 2013, and recently obtained a second Phantom. I've had a few accidents, including cutting my finger on one of the spinning blades. After this, I put a blade guard on my second Phantom not so much to protect the props, but to protect somebody else from getting cut. While the Phantom is as safe as I can make it, including a check sheet I use to make sure everything is working properly, still in the back of my mind is the worst case scenario. The Phantom loses an engine while flying and drops on somebody's head, or hits somebody's car windshield causing an accident. Whoever is flying is liable, and because of this I recently took out $500k worth of liability insurance. Most liability insurance policies I found had an FAA exemption clause in their policies. While I fly within the amateur guidelines set forth by the FAA (they don't have commercial licensing yet), I didn't want to be exposed to an accidental violation of FAA regulations resulting in a liability suit not covered by my policy. While this special insurance for the Phantom is as expensive as the Phantom itself, I can now fly without having the concerns of a liability law suit in the back of my mind. I was wondering how other Phantom Pilots on this forum are handling the liability issue that is associated with flying?