VansAirForceForums  
Home > VansAirForceForums

- POSTING RULES
- Donate yearly (please).
- Advertise in here!

- Today's Posts | Insert Pics


Go Back   VAF Forums > Main > RV General Discussion/News
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Search this Thread Display Modes
  #11  
Old 03-29-2018, 04:09 AM
rzbill's Avatar
rzbill rzbill is offline
 
Join Date: Nov 2005
Location: Asheville, NC
Posts: 2,692
Default

I built at home and self insured. Which means no I did not purchase insurance.
__________________
Bill Pendergrass
ME/AE '82
RV-7A: Flying since April 15, 2012. 850 hrs
YIO-360-M1B, mags, CS, GRT EX and WS H1s & A/P, Navworx
Unpainted, polished....kinda'... Eyeballin' vinyl really hard.
Yeah. The boss got a Silhouette Cameo 4 Xmas 2019.
Reply With Quote
  #12  
Old 03-29-2018, 08:34 AM
John-G John-G is offline
 
Join Date: Jan 2012
Location: Northeast Ohio
Posts: 685
Default Insurance non-coverage doughnut hole

I just want to mention what happened with my RV-12 build so fellow builders don't get caught in a catch 22 as I did.

I had purchased builders insurance and "assumed" it would cover the build until such time as the airworthiness certificate was issued ... not so! About 6 weeks before the planned AW inspection I called my insurance broker to inform him I was ready to have him begin shopping for insurance. At that time I was informed if the aircraft is able to move under its own power the builders insurance was VOID!

Unfortunately for me, the regular insurance policy would not cover me in the aircraft until I had time in a RV-12 ... so that meant no coverage during ground runs, brake conditioning or taxi testing. I was forced to find a flight school (out of state) with a RV-12 and receive some dual to satisfy the insurance company's requirements.

Suggest builders look into what the limitations are of their builders policy and also discover what the requirements will be for coverage when the build is completed so they don't fall into the insurance non-coverage doughnut hole as I did.
__________________
John
www.dogaviation.com
RV-12 Wings, Empennage, Fuselage, Finishing, Avionics and Powerplant kits all completed
Now Flying!!

Donation paid until September 2021
Reply With Quote
  #13  
Old 03-29-2018, 12:03 PM
dave4754's Avatar
dave4754 dave4754 is offline
 
Join Date: Oct 2009
Location: Edson, Alberta, Canada
Posts: 483
Default Yup too much money at risk to loose it all.

At one point I added up the costs and found that about 55K Canadian sat in the garage and when i called the home insurance they told me no they do not cover the plane while building it. Just tools and equipment in garage.

I found COPA had an insurance plan and got it from them and it was very reasonable.

The insurance can be easily transferred when the RV 7 is complete, and i have about 30 hours time on a Citabria so my insurance cost will be reasonable as well it appears.

Wish they would pay for the time put in..... guess that is expecting too much eh? I would be a milionaire at 20 bucks an hour lol

Dave
__________________
Dave Cobb
[color="Red"]=VAF=2019 Donation - and a bit extra for great work![/COLOR="blue"]
Empennage RV 7 - Tipper
Wings complete

Dynon installed and running
Fuse closer to completion, Canopy complete
AME reviewed and repaired O-320-Lyc installed
Reply With Quote
  #14  
Old 03-29-2018, 01:21 PM
wirejock's Avatar
wirejock wirejock is offline
 
Join Date: Oct 2005
Location: Estes Park, CO
Posts: 3,947
Default Builder's risk

I did as a few others. When the value started making me nervous, I got a Builders Risk policy.
It happened right about when the engine was purchased and the fuse substantially complete.
The policy protects my build at home and the remaining parts in the hagar.
__________________
Larry Larson
Estes Park, CO
http://wirejockrv7a.blogspot.com
wirejock at yahoo dot com
Donated 12/03/2019, plus a little extra.
RV-7A #73391, N511RV reserved (2,000+ hours)
HS SB, empennage, tanks, wings, fuse, working finishing kit
Disclaimer
I cannot be, nor will I be, held responsible if you try to do the same things I do and it does not work and/or causes you loss, injury, or even death in the process.
Reply With Quote
  #15  
Old 03-30-2018, 10:48 PM
Wunderon's Avatar
Wunderon Wunderon is offline
 
Join Date: Jun 2014
Location: Seattle (Edmonds) and Iowa
Posts: 200
Default

as others, obtained builder?s risk when value got to be more than I wanted to carry myself.
Also so transport to airport would be covered.
__________________
Dave Grimmer
RV8 N46LG for Lynda
Flying
Edmonds WA
paid 2019
Reply With Quote
  #16  
Old 03-31-2018, 08:19 PM
MartinACFactory's Avatar
MartinACFactory MartinACFactory is offline
 
Join Date: Jul 2015
Location: Montreal, Quebec, Canada
Posts: 98
Default OK, good advice. I will insure my RV-8 build

Hello All!

Thank you for taking the time to respond to my initial question on this thread. Lots of useful advice, especially from my fellow Canadian builder friends ! Based on the comments, I will for sure insured my RV-8 project soon. I think it is worth doing it.
__________________
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 !
Reply With Quote
  #17  
Old 03-31-2018, 08:21 PM
jdmunzell jdmunzell is offline
 
Join Date: Jun 2005
Location: Hamilton, VA
Posts: 419
Default Gallagher Insurance...

I hadn't covered my project until this past month when I needed to truck my entire project 1000 miles. Gallagher got me a simple builder's risk policy with liability protection, which also covered the move! Not into the engine yet, but their bottom end coverage covers up to 40K in value. Very happy with them and the service I got to get this into play very quickly!
__________________
Jeff
-8 wings, finishing up
-8 QB Fuse just arrived!!!
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -6. The time now is 03:17 AM.


The VAFForums come to you courtesy Delta Romeo, LLC. By viewing and participating in them you agree to build your plane using standardized methods and practices and to fly it safely and in accordance with the laws governing the country you are located in.