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03-27-2018, 09:01 PM
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Join Date: Jul 2015
Location: Montreal, Quebec, Canada
Posts: 98
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Have you insured your RV project ?
Hello RVers !
Just a general questions relative to your RV insurance: While building your RV airplane, have you insured your RV Project Airplane ? If you are building your RV from home, have you declared to your insurance company you are building an airplane, and insured the value of your project ? Did you wait until the airplane was completed and ready to fly to insure it ?
This question pop up in my mind recently when I experienced leaking roof at the shop I rent to build my RV-8. At that time, I told myself "What is something even worst happen ?...." Given that I have already invested many thousands of $$$ in my RV project, without insurance, that would be a huge financial blow.
Do you know if insurance company will insure a partially completed airplane ?
Your comments & feedback are welcome.
__________________
Martin Leroux
CPL ME-IFR & CFI Class 3, 1,400+ Flight Hours
Terrebonne, Quebec, Canada
RV-8 s/n #80414
Kitlog: http://www.mykitlog.com/MartRV80414/
Empennage: 100%
Fuselage: 95%
Wings: 99% (Flaps remain to attach)
MD-RA Pre-closure inspection completed Dec 27, 2019
Entering Final Assembly Phase !
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03-27-2018, 09:05 PM
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Join Date: Aug 2005
Location: Atlanta, GA
Posts: 4,218
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Builder's risk insurance is available through several brokers. I purchased it for both of my projects once they reached a value such that the loss of the project would be a substantial financial hit to me or my family.
__________________
Kyle Boatright
Marietta, GA
2001 RV-6 N46KB
2019(?) RV-10
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03-27-2018, 09:44 PM
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Join Date: Sep 2006
Location: Windsor, California
Posts: 924
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Check with your home insurer; typically they do not cover aircraft under construction in a house. And what Kyle said.
__________________
David Heal - Windsor, CA (near Santa Rosa)
EAA #23982 (circa 1965) - EAA Technical Counselor and Flight Advisor; CFI - A&I
RV-12 E-LSA #120496 (SV w/ AP and ADS-B 2020) - N124DH flying since March 2014 - 940+ hours (as of September 2020)! 
V AF donation through June 2021.
Last edited by DHeal : 03-27-2018 at 09:50 PM.
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03-27-2018, 11:29 PM
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Join Date: Jan 2015
Location: Red Deer, Alberta, Canada
Posts: 387
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I insured my project at the beginning of May last year, Marsh Silver Wings plan. I had reached a critical mass, about 60% of my total costs sitting in my garage. My homeowner's policy has a specific exclusion for aircraft and aircraft parts - I would have been covered for my tools and that's all. I had the added bonus of being covered for the move of my project to the airport last month as well as for my $$$ EFIS when I had to ship to Dynon for warranty work. I'll be converting to a plan with in motion coverage in the very near future as I am very nearly flying. The only thing I hate paying more than insurance is taxes and shipping, but I don't regret the peace of mind that $800 got me for the past year.
In short, the answer to your question is yes you can get project insurance, in Canada. And, you likely don't have any or much coverage through your homeowner's policy.
__________________
Claude Pitre
RV-9A #91081, C-GCPT
Dynon SkyView HDX, IO-320 and WW 200RV C/S. Flying as of August 6, 2018
Interactive map of all of my flights here
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03-28-2018, 05:59 AM
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Join Date: Jun 2007
Location: new iberia la
Posts: 768
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Build insurance
Yes: in the US definitely available from Gallagher and others. I put it in place when my engine build was underway. Chose the $300/yr for $50K coverage plan. When Avionics start to arrive might have to up it. Among other things it covers fire, theft, flood ect and road transport and is easily upgraded to flight coverage.
Don Broussard
RV9 Rebuild in Progress
57 Pacer
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03-28-2018, 06:29 AM
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Join Date: Aug 2007
Location: Ontario, Canada
Posts: 2,291
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Similar experience to Claude. Insured our project from the moment it came into our possession. EAA C-Plan as the vendor, Global Aerospace as the underwriter.
As Claude pointed out, that builders insurance also covers the project when being moved. Like Claude, I was moving a lot of bucks worth of hardware from point to point and buying insurance with shipping companies would have bankrupted me. The builder's insurance was very worthwhile and being able to sleep at night was proof of that value.
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03-28-2018, 09:39 AM
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Join Date: Nov 2007
Location: Yarmouth, Nova Scotia
Posts: 2,408
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Quote:
Originally Posted by Canadian_JOY
Similar experience to Claude. Insured our project from the moment it came into our possession. EAA C-Plan as the vendor, Global Aerospace as the underwriter.
As Claude pointed out, that builders insurance also covers the project when being moved. Like Claude, I was moving a lot of bucks worth of hardware from point to point and buying insurance with shipping companies would have bankrupted me. The builder's insurance was very worthwhile and being able to sleep at night was proof of that value.
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Working on builders risk as we speak for my next project. I called C-Plan about their builders risk policy and the guy I spoke to ask some one next to him if it covered while transporting and they said no. I did not believe him so I will call back. I'm insured with Marsh on my other aircraft so I contacted them. They do cover transport if you are transporting the parts yourself but certainly not if you are having a shipping company ship them. You might want clarification using a freight company?
__________________
Thanks Ron
RV-10 SOLD
RV-14 Flying
AirCam flying
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03-28-2018, 11:18 AM
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Join Date: Mar 2008
Location: Anacortes, WA
Posts: 823
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Insurance
Yes, I'm building in the garage and Yes I bought extra insurance to cover loss of the RV in my garage in case it is stolen or damaged. My normal Home Owners did not cover it. I bought it after I was 95% structure complete and when I bought the engine. Now with avionics, engine, and airframe in the garage its worth about $75k so indeed insurance is good idea, especially since it is cheap.
PS, I also discovered my current airplane insurance on another airplane did not cover my stuff in my hangar. But my Home Owners was willing to cover it as long as I tell them. So if you own a hangar, tell your Home Owners.
__________________
Steve Lynn
RV-7A
Flying Phase I
Anacortes, WA
www.mykitlog.com/sglynn
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03-28-2018, 11:30 AM
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Join Date: Mar 2017
Location: Birmingham, Alabama
Posts: 1,643
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Yep, builders insurance through AIG via Gallagher, great folks to work with.
__________________
RV-14A #140376
N196 (Flying)
2019 Bronze Lindy
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03-28-2018, 02:05 PM
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Join Date: Nov 2011
Location: Aurora, OR
Posts: 843
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Yep - and worth it
I have project/build insurance (actually not-in-motion coverage technically) via Gallagher (great company and people) and underwritten by AIG. When getting the quotes I asked about the different insurance companies and experiences with claims, etc,. which helped inform my choice as well.
Most importantly, I had to actually file a claim last year after someone (unknown) went into my hangar (which I rent from the local EAA chapter, and on which I have since changed the lock to keep tool borrowers, etc. away) and apparently rammed something into the end of my Whirl Wind 74RV prop, breaking off the tip. As a result a new blade had to be manufactured, and AIG and Gallagher were both very easy and quick to work with and no hassle at all, whatsoever. I am a very happy customer. Also, no increases to my annual costs and zero out of pocket for a new blade.
__________________
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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