Ok so we are going to turn this into a irresponsible parent thing. I was just going to let this thread die on its own but I feel compelled to reply.
I am not oblivious to the dangers involved in light aircraft, quite the opposite, I have researched it extensively. Its very hard to compare driving and flying as they are measured in different ways (klms driven to hours flown) and its not feasible to convert hours flown to distance driven because that makes driving look really dangerous compared to aviation. If driving distance is roughly converted to hours in the car (which is a rough estimate because no one knows the exact average speed of all those driven klms plus the whole pedestrian/cyclist thing) then you get the motorbike analogy. Obviously you can reduce the risk of dying in a car by only driving to the shops and back rather than driving on country roads or on Fri and Sat nights when DUI is prevalent.
The general consensus is that flying GA aircraft is some where between riding a motorbike on the road at its most dangerous to driving in a car on the road at its safest (I have even read that its as safe airline travel, but I don't think anyone really believes that). Again its difficult to compare because of the differences in measurement. I'm not sure where the dirt bike riding/race car driving analogy comes into it.
Basically GA flying encounters 1.8 fatal accidents per 100,000 hours. To break it down further, private and business flying (the category I am interested in) is the most dangerous of all GA ops at 2.2 fatal accidents per 100,000 hours. FYI Flight instruction is the safest at .03 fatal accidents per 100,000 hours and any GA flying in New Zealand is much more dangerous. Now obviously these are not preferable numbers so I looked into it further. I don't have solid numbers to back this up but around 80% of these fatal accidents are caused by pilot error. The most common is flight into IMC by a VFR pilot resulting in CFIT (I count flight into IMC by VFR pilots pilot error), followed by fuel exhaustion. Another interesting fact is private pilots are pretty safe in their first 200 odd hours, its after that, that boundary's start to get pushed and the bag of luck is emptied before the bag of experience is full. Lets not forget that there are a lot of cowboys out there that do stupid things in a plane who are more likely to be involved in a fatal accident.
So going by the figures above, I believe I can reduce the risk of my children being involved in a fatal plane accident to the level of driving by:
Filling the tanks for every flight no matter how short. In the C182 I fly I can have full tanks, the whole family and associated stuff and still have room for another 100kgs in the back.
Fly only in good weather conditions. Never VFR on top.
We do day trips/navs only on Saturdays so if the weather turns we can stay the night and try to get home on the Sunday therefore reducing get-home-itis because of work or whatever else.
My family know and can accept that if weather is not perfect we won't go.
I will never stray to far from a forced landing site. I'm the guy that will only cross the mountains following the Great Western Hwy so there is always a road/oval/golf course within easy reach.
I will constantly go back to the CFI practicing emergency's and abnormal situations. Its one thing to know what to do, its another thing to have it practiced it in the A/C I fly regularly.
Only fly into and out of certified airfields with nice long paved runways.
My instructor tells me if I continue to fly like this I will turn into a pussy and never get any real experience, thats fine I'm only a PPL and I will never NEED to get there. And besides I still do all the fun stuff when I have a mate next to me.
The data I have used came from the ATSB at http://www.atsb.gov.au/media/32897/b20060002.pdf.
Everything I have said above relates to certified VH reg general aviation. I have not looked into the dangers of LSA which would be different.
So with all that my wife and I have decided to allow our kids to fly on the provision that is as safe as can be and we won't take any extra risks. When we were planning/starting our family we both agreed we would protect them as best we could without being helicopter/hovering parents wrapping our kids in cotton wool. We have decided that the benefits of flying as a family outweighs the risk.