what about insurance... ?

leaker311 · #1 04-19-2010, 08:54 AM

I just got a quote back from my insurance company (AIG) and I thought it was a bit steep. I do realize that I can expect to pay a lot more in premiums because of it being an experimental (tailwheel) aircraft but I have no idea what a fair premium is.

They quote me for a little over 3000,- in yearly premium for an RV-7.
I am not a low time pilot but a newbie when it comes to tailwheels.

What do you guys think, is this a reasonable number?

thanks!!

Sid Lambert · #2 04-19-2010, 09:00 AM

Hull value?
Tailwheel time?

I had 10 hours of tailwheel and 175 TT when I bought my -4. The hull value was $48k and I paid $2100 the first year. $1300 the second year.

CNEJR · #3 04-19-2010, 09:08 AM

Quote:

Originally Posted by leaker311

I just got a quote back from my insurance company (AIG) and I thought it was a bit steep. I do realize that I can expect to pay a lot more in premiums because of it being an experimental (tailwheel) aircraft but I have no idea what a fair premium is.

They quote me for a little over 3000,- in yearly premium for an RV-7.
I am not a low time pilot but a newbie when it comes to tailwheels.

What do you guys think, is this a reasonable number?

thanks!!

How much "Hull" / How much "Liability"?

Greg Arehart · #4 04-19-2010, 09:56 AM

$1M liability, $75k hull on my 9A (hangared and asphalt field), 150 hours when I last renewed cost me $1600 and change. $3000 sounds a bit steep unless you have a lot of hull to insure.

greg

leaker311 · #5 04-19-2010, 08:19 PM

my hull is 130K and std liability...
they require that I get 25 hrs in tailwheel aircraft, dont know what to think of that because IMHO what really matters are the landings and not droning around for 20+ hours.

billgill · #6 04-19-2010, 08:31 PM

Advanced ratings, more than 2000 hours TT, and only 6 hours in TW, my 1st year (2007) cost was $2700 with $75K hull, $1million liability. The 2nd year was $1880 with $100K hull (had more than 250 hours TW time).

Bill
insured with NationAir

hydroguy2 · #7 04-19-2010, 08:34 PM

I'd say with those numbers, $3000 is about right.

I was quoted $2200, with 50hrs TW and was told I needed 10hrs RV TW. 80K hull

CNEJR · #8 04-19-2010, 08:47 PM

for that much Hull, it is about right.

Sam Buchanan · #9 04-20-2010, 07:30 AM

Quote:

Originally Posted by leaker311

my hull is 130K and std liability...
they require that I get 25 hrs in tailwheel aircraft, dont know what to think of that because IMHO what really matters are the landings and not droning around for 20+ hours.

Unless you have a very high-$$$$$ panel, that is a lot of hull coverage for a RV-7.

If you have no tailwheel time, you will need 25 hours of takeoffs and landings to be proficient.

(I have a thousand hours of TW and there are still landings when I wonder if I know what I'm doing.....

)

Congrats on the new plane and have a fun and safe Phase One!

sharpdoug · #10 04-20-2010, 08:00 AM

Please check with Jenny Estes @ Nationair. Jenny is easy to work with and is a pilot of an experimental. The company does advertise on this website, so your support of the sponsors is an excellent idea. 1-800-475-5860
The price for my RV-6 is $2100/year @ 125K. For me I was required to get RV tailwheel training and sign off from an approved source. I trained with Alex DeDominici near Dallas. He is a wonderful instructor and a great guy. You need to go to his website (listed under the training section) to check out his new RV-7!!!!

(Alex is also a great source of RV information and has specialty parts. I bought all my TruTrak and Advanced Flight System equipment through his company.)