Builder Insurance

[CharlieWaffles]

What kind of rates are people getting for their build phase? I got a quote of $543 for 20K of coverage (basically tailcone/wings for my -10). Wondering how this is comparing

[esjacoby77]

Originally Posted by CharlieWaffles

What kind of rates are people getting for their build phase? I got a quote of $543 for 20K of coverage (basically tailcone/wings for my -10). Wondering how this is comparing

Mine cost $466 for 26k of coverage (RV-7 tail, wings, tools). The policy is through NationAir, and the price includes a 5% AOPA member discount.

[rleffler]

Originally Posted by CharlieWaffles

What kind of rates are people getting for their build phase? I got a quote of $543 for 20K of coverage (basically tailcone/wings for my -10). Wondering how this is comparing

I'm paying about $1,300 for $130k of hull coverage and $1M of liability. Liability is required by the city to rent a hangar at my airport.

[Bugsy]

$900 for 80k builders ins including when I move the plane across country. Plus 1mill of builder liability. From falcon.

[N941WR]

Call your home owner's broaker. Mine added $60K for $100/yr. Just get it in writing that they are covering an airplane project.

[SilverEagle2]

I just chatted with my Broker, that called the underwriters, on my Home Policy since you guys got me thinking with my kits arriving this week.

It turns out, that until my plane is a "Plane", meaning has an airworthiness certificate, on my property...it is covered as personal property against theft and damage like anything else in my house. I also asked about liability, he said it is no different than if a TV fell on a guest...covered.

He did mention that if he were to put me on the newer policy that the company offers, there now IS an exclusion for the plane parts that is NOT on my current policy.

So...I asked the golden question...if there is no "plane" exclusion specifically spelled out, is that the same as having a letter stating it is included. He said "correct."

He did advise that I UP my personal property limits, but the price difference was $40.00.

So it seems that I am covered until I get a pink slip. At that point, it will be at the airport in a hangar.

Sound correct?

[RV10Rob]

Originally Posted by SilverEagle2

I just chatted with my Broker, that called the underwriters, on my Home Policy since you guys got me thinking with my kits arriving this week.

It turns out, that until my plane is a "Plane", meaning has an airworthiness certificate, on my property...it is covered as personal property against theft and damage like anything else in my house. I also asked about liability, he said it is no different than if a TV fell on a guest...covered.

He did mention that if he were to put me on the newer policy that the company offers, there now IS an exclusion for the plane parts that is NOT on my current policy.

So...I asked the golden question...if there is no "plane" exclusion specifically spelled out, is that the same as having a letter stating it is included. He said "correct."

He did advise that I UP my personal property limits, but the price difference was $40.00.

So it seems that I am covered until I get a pink slip. At that point, it will be at the airport in a hangar.

Sound correct?

I wouldn't be comfortable with that unless I had it in writing. If it's really true, that's a heck of a deal!

[9GT]

Our Homeowners policy (AAA) specifically excludes airplanes and airplane parts. I probably should get it insured since I am so close to finishing up the project but I hate the thought of writing another check to an insurance company.

[SilverEagle2]

Spoke with my legal counsel at work.

He stated it MUST be specifically listed as an exclusion to be excluded.

So, I would be interested in what the language in your policies is that specifically excludes your build.

Needless to say...I am going to re-read my policy docs tonight.