Insurance: Rocket vs RV-8 vs Super-8

It is often stated that a Rocket has higher insurance cost than an RV-8. Some say as much as 3x the rate of an RV-8 for the Rocket.

Here is a question:

If I build a Super-8, I imagine that I just tell the insurance company that it is an RV-8. After all, various builders put a variety of engines on an RV-8 and still call it an RV-8. So what if it happens to be a 6-cylinder engine? So what if it happens to be 300 hp. It is still an RV-8.

Would that be unfair/unethical/dishonest?

Is the difference in insurance because of perceived track record of Vans or overall accident exposure rate of Vans vs. non-Vans, or vs. Rocket in particular?

Im no insurance salesman but rates should be based upon a loss history. Rockets end up on their noses a whole lot, so the insurance companies pay a whole lot. The "Super -8" is very rare so there probably isnt much history - good or bad. Also, a 540 on the nose doesnt necessarily mean the airplane is higher risk. After all, a Cherokee Six has the same engine and I'd imagine insurance is pretty easy on the wallet with that crate.

I would not offer any more information than asked. Dont lie, but why let guilt (possibly completely misplaced) get in the way of a business transaction?

Of course it’s dishonest. You’re contemplating sharing less than complete information with the express purpose of denying the insurance company the ability to accurately assess its own risk prior to writing your policy. That’s fraud and will almost certainly cause any future claim to be denied, as it should.

I have over twenty years and 2000+ rocket hours, no claims. My annual premium is around 2000US$. This is double what I pay for my new pickup, but, and this is a big but, if I have an total claim I get my hull value in full with the truck I only get the depreciated value. Big difference. Also when my boys were younger I used to pay twice my airplane insurance just so they could drive bumper cars with no collision value.

When I first went to insure my Super 8 years ago, when there were a total of 3 of them I think, I was told it was insured like an RV with a slight premium for the added horsepower. She said it was similar to the added premium of a turbo Arrow vs an Arrow. The premium was about $100 more. I pay $1650 on a $120k hull Super 8 today. Back then, the Rockets were more than double an RV for what ever reason. It was one of the key reasons for me to build the Super 8 over the Rocket back then.

Tom Martin said:

I have over twenty years and 2000+ rocket hours, no claims. My annual premium is around 2000US$. This is double what I pay for my new pickup, but, and this is a big but, if I have an total claim I get my hull value in full with the truck I only get the depreciated value. Big difference. Also when my boys were younger I used to pay twice my airplane insurance just so they could drive bumper cars with no collision value.

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Tom, what insurance company are you using?
G

RV-8 insurance

I used to be in the aviation insurance, claim business. The last thing you want is to have a claim and there be a question about coverage. As the claim manager, I used to hate claims where there was a coverage question. I had no part in creating the coverage questions, but I had to deal with the irate insured and resolve the problem.

Tell your insurance broker exactly what type of airplane you have, what engine, how you use it, who flies it, whether you fly in airshows, etc. If you tell the broker the whole truth, you will not have to deal with a questionable claim later.

And believe me, no one, insured or insurer, wants to deal with a questionable claim.

Kahuna said:

When I first went to insure my Super 8 years ago, when there were a total of 3 of them I think, I was told it was insured like an RV with a slight premium for the added horsepower. She said it was similar to the added premium of a turbo Arrow vs an Arrow. The premium was about $100 more. I pay $1650 on a $120k hull Super 8 today. Back then, the Rockets were more than double an RV for what ever reason. It was one of the key reasons for me to build the Super 8 over the Rocket back then.

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Thanks Kahuna, this is exactly the info I was looking for. I was not advocating being dishonest or fraudulent by withholding information. As Toobuilder said, if they ask what engine, I would tell them what engine. What I was asking was, given that it is not really an established type to the extent that the others are, would an insurance company even recognize the distinction between a RV-8 and a Super-8? And how they would treat it. The idea of a hp surcharge makes a lot of sense. Happy to hear it is modest.