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Build insurance question

C

Charles in SC

Well Known Member
Where is the best way or place to get insurance for my project while building. Can I do this before I have an N number for it?
Thanks!
 
Same thing

Charles

I'm looking at the same thing right now. I just ordered the engine and can't imagine loosing the whole project in an accident. If you come up with a good source, let me know.

Thanks
 
Charles in SC said:
Where is the best way or place to get insurance for my project while building. Can I do this before I have an N number for it?
Thanks!
Click to expand...

You don't have to have an N number. When I finally did pick an N number, I just reserved it for three years at 10.00 per year. Didn't make it formal until about ready to fly.

L.Adamson --- RV6A
 
I am interested in the answer also, I cant leave the garage at knight with out thinking what if. I called and left messages with the insurance company's listed to the left and never got a call back.
 
I got builder insurance from Nationair when I had over $50K invested in the project. I bumped up the value once or twice during the build.

I did have an N number when I got my insurance. I'm not sure if it's a requirement.
 
100k builders risk $648

Just renewed with AIG through Nationair with Jenny Estes. Have been with them for several years with no rate changes. This also covered transport to the airport.

Bill S

>>>>> Renewal below >>>>


Thank you for the opportunity to offering you a renewal quotation on the above captioned policy your policy expires on 4/7/2010. After carefully reviewing the marketplace on your behalf, we have found that your current carrier AIG/Chartis Insurance has still offered the most competitive terms for this risk.

Insurance Company:
AIG-Chartis Insurance Same carrier as last year


Aircraft:
RV-7A N796TS


Physical Damage:
$100,000 Ground Not in Motion Coverage ? Builders


Liability Limit:
$250,000 combined single limit bodily injury and property damage Excluding Passengers



Medical Payments:
$1,000 Each passenger, including the crew



Deductibles:
$100.00 not in Motion


Purpose of Use:
Pleasure and Business



Named Pilots:
None ? Builders Risk



Special Pilot Requirements:
None


Open Pilot Warranty:
None



Additional Training Requirements:
None

Annual Premium:
$658.00 this is the same as last year.



Please contact our office with renewal instructions prior to the policy expiration date as aviation insurance policies do not automatically renew. We look forward to continuing our broker relationship and thank you for your business.

Sincerely,

Jenny Estes

Vans Program Manager ? Light Aircraft Branch


NationAir Aviation Insurance

PO Box 3800

Chesterfield, MO 63006-3800

Toll Free (877) 475-5860

Fax (636) 532-3646

Email - [email protected]

www.nationair.com
 
insurance

Charles in SC said:
Where is the best way or place to get insurance for my project while building. Can I do this before I have an N number for it?
Thanks!
Click to expand...

I got my insurance through NATIONAIR. 595 Bell Ave. Spirit of St. Louis Airport, Chesterfield MO. 63005 1-877-475-5860 agent: Jenny Estes. or nationair.com
I am building a 7A. my premium covers anything on the ground @379.00 for the first yr. It includes an advancing value throughout the build. It started at $30,000.00 and expands to $50,000.00 by the end of the first year. If I had a total loss say do to fire etc...The value would be computed by $eqip. and hrs. of labor thus far. I think you would be satisfied with this.
 
Guys: I purchased builders insurance thru USAA with Falcon. I insured it for what replacement costs would be and kept increasing as more things were added. The bonus was when I needed airplane insurance they offered, since I have builders insurance, to insure the airplane(RV-9A, O-360, FP Sensenich, and dual Dynons) at zero hours. I purchased $1mil liability, $100K in flight/ground for $1400 the first year. I'm on my third year and the premium is approaching $1200/yr. Dan
 
Build Insurance info

I am building an RV-9. I have the airframe, engine, most avionics, and a lot of miscellaneous artifacts. I requested a quote for $120K builders insurance through EAA (via Falcon).

The cost was $970. That seems high. My flying RV-6 is $1204.

I mainly wanted coverage for theft or damage (fire, tornado, &c). Are there other contingencies I need to insure for? Why would I need liability coverage?

I tried to contact Falcon through the website dialog box but the website ate my response and suggested I try again later. Cut/paste is your friend.

I will reach out again.
 
Leah at Gallagher is a poster here and speaks "experimental airplane"

Last year I got 100k of builder coverage for about $600. Based on how engine and avionics prices have shot up, plus getting ready to buy a fancy prop, I bumped that up for this year to $140k and it's about $950.

Once I'm ready to fly, it will transition over to a regular all risk policy without too much fuss
 
Gallagher….

I started at $40K for 250/yr on my 10 build. You can bump it up as you add value to the project.

Homeowners is a hard no on airplane projects of any kind.
 
I obtained builders all risk insurance from EAA's insurance company Falcon. The reason for all risk (which includes liability) is to cover if someone is hurt while visiting or helping you with your project. However, it won't cover you if the plane is in motion, such as taxiing to fuel pumps, etc. (I'm not sure if it provides coverage for the airplane's trip from home to the airport.) Once I was close to first flight, I had Falcon switch me to a regular flight policy.

With the cost of kits, avionics, and engine/prop these days; unless you are independently wealthy, I think builders insurance is pretty important. (Just my opinion.)

Good luck with your build. Hope there is never a need for an insurance claim.
 
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