N941WR
Legacy Member
(I couldn't find the old thread so I thought I would start a new one.)
FYI, I just renewed my homeowner's insurance policy with Liberty Mutual and once again asked them if they would cover the airplane in my basement.
They said they would under the general contents clause and suggested I not list it as a separate line item. God forbid I ever need to place a claim against it but they will cover it if I can prove the contents of the basement, including the tools. It cost me an extra $40 a year to up my contents insurance another $30K.
Once I move it out of the house the project is no longer insured but as long as it is there and is not an airplane it is covered. Remember, until you have that little piece of paper from the FAA it is not an airplane. A fine point to be sure but legal it is not an airplane any more than an RC model is an airplane.
Before buying insurance for your project, check your homeowner's policy and verify the fine points.
FYI, I just renewed my homeowner's insurance policy with Liberty Mutual and once again asked them if they would cover the airplane in my basement.
They said they would under the general contents clause and suggested I not list it as a separate line item. God forbid I ever need to place a claim against it but they will cover it if I can prove the contents of the basement, including the tools. It cost me an extra $40 a year to up my contents insurance another $30K.
Once I move it out of the house the project is no longer insured but as long as it is there and is not an airplane it is covered. Remember, until you have that little piece of paper from the FAA it is not an airplane. A fine point to be sure but legal it is not an airplane any more than an RC model is an airplane.
Before buying insurance for your project, check your homeowner's policy and verify the fine points.