LRingeisen
Well Known Member
Building an aircraft can be a fun, educational and exciting time, but it can turn disastrous if you are not properly insured. With a builders risk policy, you can be covered from the first piece of the puzzle to the time the aircraft is moving under its own power. You can even put fuel in the tank and start the engine with a builders policy, but don’t let that aircraft get away from you! Once it’s moving under its own power, there is no coverage. However note that transportation of the aircraft to the airport is covered. You also have the option to add liability coverage in order to help protect you if someone is injured while helping you work on your project. This liability will also protect you if while trailering the aircraft, a part falls off of an open bed trailer and damages someone else’s property.
Once you are ready to fly, you may be able to make a quick change to the policy to update it to flying coverage. If that doesn’t work, you can always get the policy shopped out with the other companies that offer coverage during the fly-off phase. Please note that you may not be eligible for full flight coverage in the future if you do not meet the insurance companies pilot requirements. As a reminder for those pilots building a tailwheel aircraft, most companies are requiring 25 hours tailwheel before offering quotes.
Of course, all claims are based on a case-by-case basis.
Once you are ready to fly, you may be able to make a quick change to the policy to update it to flying coverage. If that doesn’t work, you can always get the policy shopped out with the other companies that offer coverage during the fly-off phase. Please note that you may not be eligible for full flight coverage in the future if you do not meet the insurance companies pilot requirements. As a reminder for those pilots building a tailwheel aircraft, most companies are requiring 25 hours tailwheel before offering quotes.
Of course, all claims are based on a case-by-case basis.
