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06-25-2016, 08:03 PM
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Join Date: Feb 2015
Location: Vancouver, WA
Posts: 23
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Insurance During Building?
Hi All!
Soon I will add some expensive parts to continue building my RV10. What is the best type of insurance to get to cover the cost of parts in case of fire, theft, or damage?
Van's website says homeowners insurance will not cover the parts. I still need to check on my personal policy.
What are others doing to protect their investment?
__________________
Sean Mecham
RV-10: VS, Rudder, HS, Elevator, Tailcone - Complete
Prepairing to Order Slow Build Fuselage
Vancouver, WA - Pearson Airport KVUO
Member of FATPNW
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06-25-2016, 08:09 PM
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Join Date: Feb 2013
Location: Charlotte, NC
Posts: 659
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I did a builders risk policy through USAA who I believe uses Starr Insurance. Do a search for builders risk, lots of info out here on VAF.
__________________
www.N1017H.com
Tim Huneycutt, Capt, NCANG
PC-12 Pilot
N1017H RV-10 Flying 2019
EAA #: 1106970
2020 VAF Dues Paid!
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06-25-2016, 08:10 PM
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Join Date: Apr 2014
Location: Racine, WI
Posts: 194
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Ground not in motion
I suggest you look into a policy called Ground Not In Motion. So, if it is in a hangar and the hangar blows over, you are covered. If your hangar catches on fire and as a result all the hangars catch on fire, your stuff is covered. Your hangar neighbors might be covered if you have liability insurance on top of that.
I could not get just ground in motion, my policy had to have the liability insurance as well, due to the example stated above, and similar scenarios.
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RV-7A
IO-360 Hartzell CSP
Purchased
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06-25-2016, 08:11 PM
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Join Date: Apr 2014
Location: Racine, WI
Posts: 194
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Ground not in motion
I suggest you look into a policy called Ground Not In Motion. So, if it is in a hangar and the hangar blows over, you are covered. If your hangar catches on fire and as a result all the hangars catch on fire, your stuff is covered. Your hangar neighbors might be covered if you have liability insurance on top of that.
I could not get just ground in motion, my policy had to have the liability insurance as well, due to the example stated above, and similar scenarios.
__________________
RV-7A
IO-360 Hartzell CSP
Purchased
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06-25-2016, 09:00 PM
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Join Date: Sep 2012
Location: Omaha, NE (KMLE)
Posts: 2,247
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I called our friendly Arthur Gallagher people and got a builders insurance policy. Cost me about 250 bucks for a year. It covered all of my parts whether they were at my house, at a hangar, in a storage unit, or in transit.
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Dale
Omaha, NE
RV-12 # 222 N980KM "Screamin' Canary" (bought flying)
Fisher Celebrity (under construction)
Previous RV-7 project (sold)
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06-25-2016, 09:13 PM
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Join Date: Oct 2010
Location: La Feria Texas
Posts: 3,822
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I have USAA on everything, when I spoke with them, they were very certain that any type of airplane parts or even tools, were NOT covered, and suggested I contact aircraft insurance companies for the "builders insurance" I was seeking.
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06-25-2016, 10:45 PM
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Join Date: Jun 2013
Location: Tucson, Az
Posts: 143
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Gallagher Ins
Ditto on Gallagher for me
__________________
Alan Muhs
Tucson, Arizona
Dues overpaid July 2020
RV12iS Southern Arizona Teen Aviation: #1 airplane sold, #2 airplane working on engine/finish kit, #3 airplane tail kit finished.
RV10 flying since July 2014- 700 hrs as of July 2020
RV6A sold after 500 hours of flying
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06-25-2016, 10:55 PM
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Join Date: Nov 2011
Location: Aurora, OR
Posts: 843
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Yeah, call Shanna Linton at Gallagher - advertiser here on VAF. She/they are great!
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Greg Hughes - Van's Aircraft - Community, Media, Marketing
Van's web site | Instagram | Facebook
Opinions, information and comments are my own unless stated otherwise. They do not necessarily represent the direction/opinions of my employer.
Building RV-8A since Sept 2014 (N88VX reserved)
Dual AFS 5600, Avidyne IFD 440, Whirlwind 74RV, Superior XP IO-360
VAF build thread - Flickr photo album - Project Facebook page
Aurora, OR (EAA Chapter 105)
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06-25-2016, 10:59 PM
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Join Date: Feb 2015
Location: Vancouver, WA
Posts: 23
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Thanks!! I will check that out...I am building at home. I will also try the other search options.
Thanks!
__________________
Sean Mecham
RV-10: VS, Rudder, HS, Elevator, Tailcone - Complete
Prepairing to Order Slow Build Fuselage
Vancouver, WA - Pearson Airport KVUO
Member of FATPNW
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06-27-2016, 06:04 AM
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Join Date: Feb 2013
Location: Charlotte, NC
Posts: 659
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Mine is actually insured by Global Aerospace. I still got it through USAA, just call them up. It shows up online under My USAA, so makes it pretty easy. You just name the value you want covered, pretty quick and simple. Very comprehensive.
__________________
www.N1017H.com
Tim Huneycutt, Capt, NCANG
PC-12 Pilot
N1017H RV-10 Flying 2019
EAA #: 1106970
2020 VAF Dues Paid!
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