Rocket insuance

[titanhank]

Hi guys, i bought a rocket and the insurance quotes are steep to say the least. 14000 hrs, atp, airline captain, 350tw, 300tt rv, 50tt rv3-4. No blips at all. From ladd gardner.

$4800 full coverage with $60k hull
$2400 liability and not in motion
$1800 just liability

What gives? Based on the previous threads, i was expecting much less. Mine is listed as an rv4/hrm rocket. Are you guys getting insurance based off the rv4 part?

This thing may get a 200hp 0-360 installed and called an “rv4”.

Thanks

[Ironflight]

I have always heard that insurance on Rockets is much more expensive than on RV’s - don’t have figures, but it Is something I have heard repeatedly over the years. Lots of cases of them going over on there nose on the ground, unfortunately.

You might find this Kitplanes video on the current state of the experimental insurance industry interesting - it gives some idea of what influences your rates, and how you can influence them to your favor.

https://youtu.be/cVNqmE33NTU

Paul

[RhinoDrvr]

Others can offer more insight, but I believe the Harmon Rockets had higher noseover rates than the RV’s, so the insurance rates are higher. The F1 Rocket corrected the issue, but got lumped in due to its name and similarity.

Also, apparently a part of insurance rates is replacement cost. So 10,000 RV’s flying lower rates compared to the lower number of Rockets.

[Toobuilder]

Just got insurance on my Rocket a couple of days ago after a year off and I'm paying $600 for liability. 350 Time in type, 1000 TW, 1200 TT, no instrument rating.

Agency is Crest, underwriter is Tokio Marine - one of the few that still insures Rockets.

[Flash]

When I was searching for an RV8, I stumbled across a rocket and I checked insurance rates. Ladd told me that it's about 3 times an RV8. In my case it was spot on. I ended up buying an 8 so didn't investigate further.

[Scotty G]

In my search for an airplane, it started with a Glasair III taildragger with an IO-720.

28,000 TT, 650 TW (T-6, P-51, B-17, Citabrias, Stearmans, etc.), no accidents, DUIs, etc...

$6,000/yr.

Lancair Legacy (200 Lancair time)

$6,000/yr

Harmon Rocket

$6,000/yr.

RV-8, $150K hull, $1M, $100,00...

$1,900/yr to start. Will go down at year two.

Reasons given are number of claims on those types in recent history.

Think that's bad - try insuring a Super Decathlon for instruction! LOL


So, yeah, this is why we can't have nice things.

[titanhank]

Originally Posted by Toobuilder

Just got insurance on my Rocket a couple of days ago after a year off and I'm paying $600 for liability. 350 Time in type, 1000 TW, 1200 TT, no instrument rating.

Agency is Crest, underwriter is Tokio Marine - one of the few that still insures Rockets.

Thanks. Do you have contact info for crest?

[B Atkin]

My Rocket insurance $80k hull, 1,700 tt, instrument, 700 tw 500 rocket, $1,608 Falcon.

[titanhank]

Originally Posted by B Atkin

My Rocket insurance $80k hull, 1,700 tt, instrument, 700 tw 500 rocket, $1,608 Falcon.

I will call them also. Thanks

[sailvi767]

I found on the F1 Rocket at least the insurance was not as bad as I hoped. I pay 3400 a year on 140,000 in Hull value. A RV8 with that hull value would have been around 2000.