S

stathamj

I'm New Here
Hello my name is James Statham. Within the next few months my RV-7 will be ready for her first flight.
I was wanting to get some ideas on insurance and costs. If you dont want to post it are aren't allowed please email me @ [email protected]. I'm a low time pilot and even lower time tail dragging. Not counting the 7 day a week for 8 months that makes mine drag.
I'm also not wanting to start a web war. I'm just trying to find out what my options are and where I can get resonable insurance for what I need. I don't want to get anything I dont need.

Thank you in advance,

James Statham
RV-7
N957RS "Reserved"
 
Lots of things go into the underwriter risk (your cost). Basically every question they ask you. Stuff about the airplane / engine and stuff about you. Then they will have some things you might have to do or certain restrictions. The brokers are pretty good about explaining everything.

I'm guessing you are looking at 2500 the first year for hull and liability. Then the second year if you get some good time logged it will drop. Probably will never go below 1700 unless you have a low hull value or decide to go without hull.
 
I use SkySmith. They are nice to work with. My experience was probably 350 hrs total time and <10 hours of tailwheel when I first insured my RV-6. The premium was <$1,600/yr and has gradually dropped over the years to just under $1,400/yr. My hull value is set at $54k...
 
My annual premium is about $1300 on my -7A with a hull value of $70000 with NationAir. That was the same amount as last year. About 300 hrs. in the -7A.
 
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I am low time as well, and without any substantial RV time. I went through EAA's broker, Falcon, who got quotes from two companies. One was AIG, not sure who the other one was from, but it was an EAA package program. They both required 150 hrs minimum to offer coverage. Only the EAA package offered full coverage for the declared value of the plane during the test flight period - AIG would only insure for 1/2 value during this period. They also would not cover a non-owner test pilot. For these reasons I didnt go for AIG although it was cheaper by 2 or 3 hundred dollars. Cost will vary depending upon the desired hull coverage amount. For $100K hull coverage and liability coverage, the EAA program cost almost $3000 in my case. Not cheap, but I want decent coverage for my first year at least. My cost will go down after 1 year and 100 hours, but by how much I am not sure.

erich

P.S. To get the details, call and ask for a quote. Its easy. I got mine the same day I asked and didnt have to fill out anything. I can put the coverage into effect by simply calling and speaking to the agent and telling him when to start - could be that very hour or any time or day after that
 
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Mine's about $1700 a year with Falcon for my RV-6 with $80k hull insurance. That's the lowest they said it'd ever get (high time pilot with no accidents/claims/etc). They also said trikes are $500 or so less typically.
 
he he he

groucho said:
Mine's about $1700 a year with Falcon for my RV-6 with $80k hull insurance. That's the lowest they said it'd ever get (high time pilot with no accidents/claims/etc). They also said trikes are $500 or so less typically.
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groucho,
surely they dont look at your website vidoes,:D if they did they would either cancel you or sponsor you.;)
 
RV 7A

James,
My first year the premium was $1,700 for 80K hull. The second year it dropped to $1,275, the third year it came in at $1,230. I have around 1400 hours, instrument rated.

Nationair

Gary
N715AB
 
Thanks to all of you who replied. At least Tuesday I can start calling around to get some "Hanger" insurance till it's ready to fly. I'll be looking for full coverage when "someone else test flies it". You never know!!

Thanks Again,

James Statham
 
cytoxin said:
groucho,
surely they dont look at your website vidoes,:D if they did they would either cancel you or sponsor you.;)
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No doubt!! Actually, I've specifically asked about aerobatics & they're cool with it. It's part of flying an airplane! Of course, if you're busting FARs (i.e. acro too low or similar) I wouldn't be surprised if they'd drop you.

No sponsorship offers...although John wants to sell me one of his smoke systems. :)
 
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