wirejock

wirejock

Well Known Member
When my wing and fuse kits arrived, I realized I have quite an investment sitting in the garage. Does anyone have a recommendation on insurance coverage for the airframe kit before it's finished?
My home owners does not cover it and with all the fires up here in Colorado, I have to be prepared.
 
Nation Air

Call Jennifer at Nation Air Insurance. 855-538-8267. I just did a couple weeks ago and got a builders policy in the matter of a day or two. Easy Peasy.:)
 
It's pretty straight forward.

Talk to your favorite aviation insurance agent to get set up. Most of the companies will offer non-flight insurance.

While not required, you may want to talk with your agent about what the requirements will be for first flight and the first year with the company you decide to get insurance from. It makes it a little easier to just add the flight insurance with a phone call, rather than have to shop for insurance again.

Typically expect to pay about 1% of the insured amount. Obviously, this will changed as you advanced from kit to kit. You may also want to figure in the value of your time and insure that as well in case you need to file a claim.

bob
 
I used Jennifer at nation air, got 42000$ coverage for 250$ or near that. It also covers the move to the airport. They do not cover less than 42000$ a little more than I have invested now but I will have that much soon so I went with it. I live in Louisiana so hurricanes are a concern, they are covered with no deductible. That's nice. Good luck!

Bird
 
When I was building I think I insured via nationAir for just the cost of the kit, then included the engine and avionics each year as a I built. I think itw as about $400 for about 25k worth of coverage and near the end was close to $600 for about $40-$50k worth.

Was it worth it? I don't know. I didn't need it. But I slept a little better knowing I could pay off the loan (the rest of the project kit was straight cash) on the engine if something happened.

Also, when you move it to a hangar, a lot if airports require a minimum amount of insurance, even for non moving things.
 
This thread reminded me to call Jennifer at NA. The quoted rate is great and worth the peace of mind. I should have done this a couple years ago. I have most everything for the plane and most of it is complete. If I were to have a total loss due to fire, tornado, ect, without coverage it would put me out of the RV business. I can't bear the cost of building again without recouping at least what I have in it. I insured for more than just the parts to cover a small portion of the labor to get to this point. If something were to happen I would throw some more money at it and just buy a flying RV.
 
Since I have my project in a hangar I am required to insure it and have the airport as an additional named insured. I did mine through Avemco. One phone call was all it took and they took care of the rest.
 
My hangar insurance covers the project while it's in the hangar. Doesn't help a bit while it's at the house, where it's self-insured.

Dave
 
Reading this got me thinking so I called my State Farm agent.

Airplane parts and tools in the garage: Personal property, covered under homeowner's policy, at replacement cost.

Airplane parts and other stuff in a storage unit: Ditto.

Completed airplane: Not their problem (but she's looking into whether they do aircraft or not).

Life is good. When needed (like when I move it to a hangar) I'll get additional builder's insurance, but right now I don't see the need for it. That said, we'll be taking a tour/inventory of the house this weekend to see if the total coverage amount on our homeowner's policy is high enough, or if we need additional coverage for jewelry, guns, electronics, etc.

But the big question I have is this... Suppose I have the wings and fuse nearly completed and something happens. Will any policy cover replacing it with a QB instead of a regular kit? I'm certainly not going to be satisfied with having to start from scratch. I'll have to ask that question of my agent as well as Jennifer at NA.
 
Many homeowners' policies do not cover anything "in assembly". My insurance man said that applies to both cars and airplanes being built or restored in a garage. A box of parts can be covered as indicated above, but as soon as you have a partially assembled plane, watch out.
 
I checked with my agent last year and was told it specifically excluded airplane parts.
I called Jennifer @ Nation Air last month when the engine and avionic showed up as that was more than I wanted to self insure.
 
Reading this got me thinking so I called my State Farm agent.
Click to expand...

That's something I'd want in writing. My well rated and respected insurer of many military folks said no.
 
Yeah, my State Farm agent said they have nothing to do with airplane parts. Tools and shop stuff yes, airplane parts------ negative ghost rider weapons cold

Bird
 
Our homeowners policies for both homes specifically state airplanes and airplane parts are excluded from coverage. I self insured the RV-10 while in the shop but had it insured for full coverage through NationAir (Chartis) last week prior to the move to the airportt the wifes insistance. It was a lot of money for the insurance, but I sleep better now knowing that if someone steals my avionics or some disaster strikes,,,its covered.
 
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