Recent insurance info

CaptPausert · #1 09-19-2022, 11:54 PM

Does anyone have any recent experience with Insurance they would be willing to share? I am considering an RV-9A build and I am trying to figure out costs.

I am a relatively new pilot at my current rate of hour building I estimate that by the time I would have my RV finished I would have 300-400 hours and my instrument rating.

I was originally going to build a Sling TSI but when I went out for quotes most of the insurance companies declined to quote me for experience (said to check back when I had in excess of 1000 hours) the two that did quote me said $5300 per year and $8300 per year which is a bit out of my range.

Thanks

BobTurner · #2 09-20-2022, 12:38 AM

Why not go right to a good insurance broker? Arthur Gallagher is a VAF advertiser. Ask for Leah Ringeisen, have a nice chat.
Any EAB is likely to be expensive (my guess, $4000) for the first year if you have 300 hours total but zero hours in type. In fact, the insurance company may mandate 2 to 10 hours of training. After that, less than $2K, at the current time. (Hull coverage, plus $100K per passenger liability, $1 million total liability).

KeithO · #3 09-20-2022, 05:40 AM

Arion Lightning, built 2007, 700 hours total time. My wife, student pilot. 5 hours in type. Instructor 700 hours, 15 hours in type. Hull coverage ($46500) for $6800. Liability only (no ground operation covered, nor theft or coverage for the hangar failing in a tornado) $2800/year. Needless to say I declined to participate in that rip off.

plehrke · #4 09-20-2022, 05:46 AM

Quote:

Originally Posted by CaptPausert

Does anyone have any recent experience with Insurance they would be willing to share? I am considering an RV-9A build and I am trying to figure out costs.

Thanks

Call a broker. You will get way better and specific information to your situation from them then you will get here on the forum. I highly recommend Arthur Gallagher and talk to Leah.

storm_pilot · #5 09-20-2022, 06:12 AM

Insurance can definitly be frustrating. It seems to dictate the industry more than the regulations do but keep in mind that there is NO regulatory requirement that you carry insurance in order to fly your bird. Personally I would try to at least get liability insurance but your risk tolerance budget will dictate your level of coverage.

WingsOnWheels · #6 09-20-2022, 06:37 AM

The RV's are cheap to insure compared to many other EABs. When I finished my RV6A, I hadn't flown regularly in a decade and had about 250hrs. Full coverage cost me about $1200/yr (Hull, 100k/1M) and has gone down since then. Alternatively, after flying the RV for a couple years I got a quote for a fixed-gear Velocity, same hull value and liability, and it was over 6K/year

Edit: just to note, my first flight was in 2019, so we aren't talking all that long ago. For a 9A, and your estimated hours, I would expect $1100-$1800 depending on hull value.

And +1 for Leah at Arthur Gallagher. Call them and get a real quote.

MacCool · #7 09-20-2022, 08:46 AM

I just renewed my $95,000 policy on my RV-9A (I’m likely under-insured in this market). Global Insurance, brokered by Leah Ringeisen at Gallagher. I have more hours than you and I’m likely quite a bit older. At airplane purchase, I had no RV time…they wanted 2 hours transition training before solo and then 1 hour solo before passengers. I had started out with the policy Leah got me with AIG, then last year she switched me over to Global. The policy renewal was $1400 this year…went down a little over last year. I don’t know if an instrument rating is a positive or a negative from an underwriting point of view (I’ve heard both), but I know that a tailwheel will drive the price up. Definitely shop around, best shot will be with a broker. I have found Leah to be promptly communicative and very effective on my behalf.

When I started shopping for insurance, I got quotes ranging from $1700 to $8000 to “we’re not interested in insuring you at all”. Don’t try to navigate that landscape by yourself…get a good broker.

odens_14 · #8 09-20-2022, 08:52 AM

Quote:

Originally Posted by storm_pilot

keep in mind that there is NO regulatory requirement that you carry insurance in order to fly your bird. Personally I would try to at least get liability insurance but your risk tolerance budget will dictate your level of coverage.

While true there is no federal requirement for insurance, check with your state as some do have a liability requirement (Minnesota being one of them).

theduff · #9 09-20-2022, 11:41 AM

My Broker is Gallagher as well with Kim as my agent. I have 1500 hrs of tailwheel time ( almost all in the 4 ) 1750 TT, 65 years old and with 90K hull I just renewed For $1100.00 this year.
Got a recent quote for a Harmon Rocket and it was over 5k ! The airplane is definitely a huge factor in price.

rockwoodrv9 · #10 09-20-2022, 11:52 AM

I am a student about to take my check ride. I have about 80 hours in my 9A. My insurance is pretty high now - apparently they consider students "risky"! I hope to get re-evaluated after I have my license. I am with AG and they have done what they can but I am still about $500 a month. Ugg.