[karlkatzke]

At the point a pilot is considering declaring an emergency, they should do so. Once they have declared an emergency, the insurance company owns the airplane, and the pilot should be focused on preserving as many lives as possible. This is as true for a mechanical emergency like a gear up landing as it is for every other kind of emergency.

[thesh4d0w]

That's assuming you have in motion insurance on your aircraft. I don't on my 152, the plane is worth so little we'd cover the airframe cost in 7 years of insurance payments.