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xavierm

Well Known Member
Friend
What's up with these insurance companies?

NationAir - I asked for "Builders insurance. Building an RV-7" and initially the person who answered the phone acted like they didn't know what's going on, then gave me a guesstimate of $1,500 a year! Nuts!

Falcon - The assistant said he's on the call with a customer and would be giving me a call back... 4 hours ago.

Avemco, Skysmith - Didn't even answer the phone.



Just got a call that the hangar that was to become available isn't available. geez... will I ever get to start building this thing?

That's my rant.. :)
 
I just got a builder's policy from AIG through NationAir. Very quick and courteous service. I've been dealing with Jenny Estes (877) 475-5860. Paid around $800 for $75k of coverage. This coverage includes transportation of the aircraft.

Guy
 
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I second Guy's recommendation for Jenny Estes at NationAir.
She insures both airplanes and has provided quotes for builder's insurance (which I haven't bought yet... :) )

Thomas
 
Falcon

Just got buiders insurance from FALCON. There rate is 10% of value, ie $500 for $50,000, zero deductable.

Much better than anyone else quoted...
 
Thanks for your support

Gentlemen -

Thanks for your support!

David McCoy for Jenny Estes
Branch Manager
NationAir Aviation Insurance
877-475-5860
 
Just took out a builders policy with Avemco...$572. per year with a $200 deductable.for $65,000. coverage...I shopped around for different kinds of "personal property" type insurance with no luck..after all, It's not really an airplane until it flies, right..? Isn't it just a collection of parts? I suppose if I spraypainted the word "airplane" on my house, they wouldn't cover that either!:rolleyes:...Sorry insurance folks, but this is pretty much of a ripoff. A builders project is not (and should not be compared with ) a flying airplane..!

Brian Cutler
N433BC reserved
Drilling those itty bitty holes for Mil-Spec Cowling Fastners....all day long.
 
Math 101

Jetj01 said:
Just got buiders insurance from FALCON. There rate is 10% of value, ie $500 for $50,000, zero deductable.

Much better than anyone else quoted...
Click to expand...

JJ... back to Math 101....:)

I presume you mean 1%.. which is the $500 for 50,000 coverage....

If it's that low, they must not be paying out on many claims... which is good...

gil A
 
Called Jenny

She responded quickly. I was quoted $480/yr before AOPA/EAA discounts for $15,000 coverage, the minimum for AIG.

She mentioned that Global Aerospace was 10of the amount you want to insure, and they pay by percentage if you needed to act on the coverage.

For example, if you insure $50,000 and the tail fell from the rafters, they would pay 5% of 50,000.
 
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xavierm said:
She responded quickly. I was quoted $480/yr before AOPA/EAA discounts for $15,000 coverage, the minimum for AIG.

She mentioned that Global Aerospace was 1% of the amount you want to insure, and they pay by percentage if you needed to act on the coverage.

For example, if you insure $50,000 and the tail fell from the rafters, they would pay 3% of 50,000, or $1,500.
Click to expand...

Xavier - it would be 5% for the tail kit. I attached the components endorsement Global/EAA uses:

EAA Components Endorsement


Agreed Value $50,000.00 (this is adjustible per your requirements)

Items % coverage Value
Wings 10% $5,000.00
Fuselage 15% $7,500.00
Tail Kit 5% $2,500.00
Prop/Engine 30% $15,000.00
Avionics/Inst. 25% $12,500.00
Miscellaneous 5% $2,500.00
Finish Kit 10% $5,000.00

This is what each section is covered for. The AIG policy is eather a stated amount or range duing the building process. This gives a little more freedom with what you spend on certain sections and still be covered in the event of a loss. For example, int he above scenario if you spent $20,000 on the enigne, you would be out $5,000 if it was destroyed. Under the AIG policy it would be covered if you have documnetation you paid $20,000 for it.

Its important to remember during the building process that if you are going to go through the expense of insuring it, make sure you have the coverage that fits your needs.

David McCoy
NationAir
 
Changed the post to reflect the info below.

Thanks!

NationAir said:
Xavier - it would be 5% for the tail kit. I attached the components endorsement Global/EAA uses:

EAA Components Endorsement


Agreed Value $50,000.00 (this is adjustible per your requirements)

Items % coverage Value
Wings 10% $5,000.00
Fuselage 15% $7,500.00
Tail Kit 5% $2,500.00
Prop/Engine 30% $15,000.00
Avionics/Inst. 25% $12,500.00
Miscellaneous 5% $2,500.00
Finish Kit 10% $5,000.00

This is what each section is covered for. The AIG policy is eather a stated amount or range duing the building process. This gives a little more freedom with what you spend on certain sections and still be covered in the event of a loss. For example, int he above scenario if you spent $20,000 on the enigne, you would be out $5,000 if it was destroyed. Under the AIG policy it would be covered if you have documnetation you paid $20,000 for it.

Its important to remember during the building process that if you are going to go through the expense of insuring it, make sure you have the coverage that fits your needs.

David McCoy
NationAir
Click to expand...
 
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