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  #11  
Old 11-23-2020, 04:03 PM
bill.hutchison bill.hutchison is offline
 
Join Date: May 2020
Location: Northern VA
Posts: 132
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Quote:
Originally Posted by raabs View Post
A bit more info coming in. Apparently Starr is the only one that would write a higher hull value of $235k with less than 250 hours. Even $185k hull with less than 250 hours is still $14780.00.

If over 250 hours, others will(may, will see when I'm ready) write it at $3000-$4000, range depending on $185k-$235k hull.

Need to start adding some hours!

A data point for lower time pilots working on a -10....
You can build a lot of time in 6 months. That $18K could buy you an ugly-but-airworthy 150 that you can fly the **** out of and still sell for what you paid. You could spend a little more, do an instrument rating too, and I suspect the time built with the IR would offset a HUGE chunk of that $18K.
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  #12  
Old 11-23-2020, 04:12 PM
raabs raabs is offline
 
Join Date: Apr 2017
Location: Clermont, FL
Posts: 95
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Quote:
Originally Posted by bill.hutchison View Post
You can build a lot of time in 6 months. That $18K could buy you an ugly-but-airworthy 150 that you can fly the **** out of and still sell for what you paid. You could spend a little more, do an instrument rating too, and I suspect the time built with the IR would offset a HUGE chunk of that $18K.
Per my earlier post, they are now indicating 250 hrs would bring it down to $3-$4k depending on hull value. I will be flying the **** out of something for 6 mos and finishing the IFR ticket.

This is how crazy the insurance market has gotten with apparently only 4 carriers writing new policies on -10s.
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RV-10 Under Construction
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  #13  
Old 11-23-2020, 04:12 PM
McStevens McStevens is offline
 
Join Date: Sep 2019
Location: Edmonds, WA
Posts: 138
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I'm planning to self-insure the airframe while I build time, but I'll absolutely have liability throughout. Haven't gotten quotes yet but I figure it will be significantly cheaper.
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  #14  
Old 11-23-2020, 04:21 PM
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n82rb n82rb is offline
 
Join Date: Jan 2007
Location: fort myers fl
Posts: 989
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Quote:
Originally Posted by rocketman1988 View Post
I don't think there are many people who have the financial ability to fly uninsured...you may be able to cover the aircraft damage/loss but the LIABILITY is where it will be expensive...
you may be surprised, i have never gotten a quote for a -10, but I carry liability only on my RV-4 and it is like 250 a year. the fact that I have an atp and 12000 hrs might have a bit to do with that, but I would not expect it make that much difference.

bob burns
RV-4 N82RB
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  #15  
Old 11-23-2020, 04:30 PM
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Sam Buchanan Sam Buchanan is offline
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Join Date: Dec 2004
Location: North Alabama
Posts: 4,370
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Quote:
Originally Posted by rocketman1988 View Post
I don't think there are many people who have the financial ability to fly uninsured...you may be able to cover the aircraft damage/loss but the LIABILITY is where it will be expensive...
Quote:
Originally Posted by n82rb View Post
you may be surprised, i have never gotten a quote for a -10, but I carry liability only on my RV-4 and it is like 250 a year. the fact that I have an atp and 12000 hrs might have a bit to do with that, but I would not expect it make that much difference.

bob burns
RV-4 N82RB
Pretty sure he is saying defending a liability lawsuit would be very expensive.

Another option is ground-not-in-motion coverage if you can self-insure the hull but don't want to be without liability
or storm/fire coverage.
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Last edited by Sam Buchanan : 11-23-2020 at 04:33 PM.
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  #16  
Old 11-23-2020, 04:34 PM
raabs raabs is offline
 
Join Date: Apr 2017
Location: Clermont, FL
Posts: 95
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No accidents, no claims, no violation, no other issues.

Quote:
Originally Posted by BobTurner View Post
BTW, I built my non-deluxe but ifr -10 a decade ago, for a parts cost of around $120K. I am astounded if it is now $200K
A quick addition of items.
QB ~$68k w shipping.
I/O 540 $52k
Prop $9k
Avionics $40-$50k
Aero sport or similar interior w/ OH console $7k+
Paint $20k +/-
Thatís $196k-$206k for starters?
Plus tax and a whole lot of misc.

Of course you can do slow build if you have time, learn how to paint exterior, sew interior etc.
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  #17  
Old 11-23-2020, 04:36 PM
CanyonDweller CanyonDweller is offline
 
Join Date: Jan 2013
Location: Floydada, TX
Posts: 38
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I hope you can get liability only insurance. I have a friend who tried to do this and was unable to get insurance. This was a couple of years ago when insurance started to rise. He is a very high time pilot who didnít like the quote he got when he tried to insure his turbine twin. He tried to get ground only, no luck. Next tried liability only, again no luck. He is self insured now. A risk I could never take. Good luck!
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  #18  
Old 11-23-2020, 04:42 PM
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MacCool MacCool is offline
 
Join Date: Aug 2020
Location: central Minnesota
Posts: 346
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Quote:
Originally Posted by rocketman1988 View Post
I don't think there are many people who have the financial ability to fly uninsured...you may be able to cover the aircraft damage/loss but the LIABILITY is where it will be expensive...
I asked my broker about liability only, found it was substantially cheaper. I donít know if that applies to the RV-10, however, as it has 4 seats which I gather ups the liability exposure quite a bit. My guess is that those two extra seats are playing a substantial role in determining the OPís premium .

Maybe doing the 10 hours of transition training in an RV-10 now would be cost-effective relative to the insurance premium later. Especially if the OP can build additional TT hours in some other plane and get to the TT minimum.
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  #19  
Old 11-23-2020, 05:37 PM
RV10Pilot RV10Pilot is offline
 
Join Date: Jan 2005
Location: Medford, NJ USA
Posts: 316
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I got insurance for my newly completed RV10 in early October. I had 210 hours total, not instrument rating, and 3 hours PIC in a RV10. $200K hull for $3,800 and no additional RV10 time required. Only one insurance company quoted. Not really the second quote was something like $18K.

For me, and my experience, $3,800 was a bargain. I was high risk and I was shocked that 3 hours waived any additional RV10 time. I did mitigate my personal risk, by getting some additional transition training and my first few flights were only done when the weather was close to perfect.
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  #20  
Old 11-23-2020, 05:38 PM
Northernliving Northernliving is offline
 
Join Date: May 2005
Location: Boston, MA
Posts: 496
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Quote:
Originally Posted by raabs View Post
My -10 will be flying in approx 6 months so after reading about insurance rates lately, I emailed Gallagher to get an estimate and have some time to prepare/add hours, get some dual etc., in order to minimize cost as much as possible.

Based on 215 hrs low time pilot, HP endorsement, no accidents, $235k ish hull value they replied this morning with a cost of $18,000 w 15 hours dual required. Said more avail options after getting experience in the -10.

I checked 1.5 Year+ ago on one that I was going to buy and it was estimated to be $2500 at the time.

Now... I'll do what it takes for experience and training and adding more time but $18,000 is exorbitant. Exactly how does one get experience in a -10 with $18,000 insurance?

Crazy.
Something sounds very wrong with your quote. Try BWI. https://bwifly.com/
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