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iowaflyer

Active Member
I've been considering buying a partially completed F1 evo rocket kit that I have found. But...insurance issue are likely going to change that. I have 550 hours TT/120 TW/85 RV-4 with commercial/instrument. I was quoted $7500 for $180000 hull + NO coverage for phase I + 25 hour rocket dual requirement. OR, I can do an RV-7 for $3500, 1 hour dual requirement, and builder's insurance/coverage for phase I.

I was astonished at my quote. Is this in line with what anyone else has been quoted? How do you rocket flyers do it?
 
I bought a HRII two years ago, and then called around about insurance. The only thing I could get was liability from Avemco for 1800 per year nobody else would quote hull unless I had 1000 TT. I had over 500 hours, 200 tail wheel, at least 150 hours of RV time, along with an IFR rating at the time. I really liked the HRII but it didn't want to fly that much aircraft without hull insurance, so I sold it. The new owner had over 1000TT, at that time I was told they would have insured me if I had a F1 but I doubt it would have been cheap.
 
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No comment on the Rocket numbers, but your quote for the RV-7 is higher than mine for an RV-10! Obviously tailwheel vs. nosewheel but also 2 less seats (liability).

My agent is SkySmith.

Bob
RV-10 N442PM
 
My RV8 insurance is $2100 for 80k, I have 500 tt, 275 tw, and 30 RV.

That is thru chartis, the old AIG

You need a new quote.
 
iowaflyer said:
I've been considering buying a partially completed F1 evo rocket kit that I have found. But...insurance issue are likely going to change that. I have 550 hours TT/120 TW/85 RV-4 with commercial/instrument. I was quoted $7500 for $180000 hull + NO coverage for phase I + 25 hour rocket dual requirement. OR, I can do an RV-7 for $3500, 1 hour dual requirement, and builder's insurance/coverage for phase I.

I was astonished at my quote. Is this in line with what anyone else has been quoted? How do you rocket flyers do it?
Click to expand...

Was that the one in Southern Colorado near Colorado Springs?
 
I have an agent who will get you an AIG liability only for around $355.(all others quoted me double that)
Send me a PM and I will send you the contact info. Hull coverage is also offered at a good rate.

Forget AVEMCO, they always quoted me twice of what anybody else quoted with hull coverage. I don't think they want the RV business.
 
I know a guy who could not get hull coverage on a Rocket/EVO type aircraft....only liability. He had beaucoup experience.
 
I can get in flight hull coverage on my rocket but I choose not to. I do carry liability and "not in motion" hull coverage to cover tie down damage, ground fire, hail etc. In four years of safe flight I have saved enough money to purchase a new prop. In another three or four years I will have saved enough for an engine tear down. If I survive an off airport landing I can rebuild the rest of the plane myself. I have had it with feeding insurance companies. Even with full coverage on my airplane it would still be less expensive then insuring my 21 year old son in a 10 year old car; just adding a bit of perspective. That is my experience in Canada, it might be different elsewhere.
 
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prporter:

That's the one.

I really have my heart set on a rocket (would esp. love the evo wing), but the lack of coverage during phase I testing is a non-starter for me.
 
another data point

$2400 for $80K hull coverage on RV-7, also covered Phase 1 (40 hours), required 2 hours dual and at the time I had about 160 hours with about 100 TW. Premium has dropped $200 after the first year with an additional 120 hours TW.
 
Tom Martin said:
I have had it with feeding insurance companies.
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Not at all attempting to justify the rates or paint the insurance underwriters as "good guys"....... but if you follow the money you are not really feeding the insurance companies as much as you think. You are "feeding" lawyers and builders and/or pilots that made construction and/or airmanship errors.
 
iowaflyer said:
I've been considering buying a partially completed F1 evo rocket kit that I have found. But...insurance issue are likely going to change that. I have 550 hours TT/120 TW/85 RV-4 with commercial/instrument. I was quoted $7500 for $180000 hull + NO coverage for phase I + 25 hour rocket dual requirement. OR, I can do an RV-7 for $3500, 1 hour dual requirement, and builder's insurance/coverage for phase I.

I was astonished at my quote. Is this in line with what anyone else has been quoted? How do you rocket flyers do it?
Click to expand...


I sent you a PM......
 
I was quoted $7500 for $180000 hull + NO coverage for phase I + 25 hour rocket dual requirement. OR, I can do an RV-7 for $3500, 1 hour dual requirement, and builder's insurance/coverage for phase I.
Click to expand...

Hull insurance is usually 2-3% of stated hull value at $180,000 in hull value the hull part of the $7,500 is $3,600.

The balance is related to your personal history, experience, and the fact that there are far fewer Rocket's than RVs.
 
f1 insurance

170,000 hull value, $5200.00/year had about 900tt and 300tailwheel when got 1st quote 1st year was $5600.00 2nd year $5200.00 and recent quote 3rd year $4950.00 w/ over 1000 hours tt.
 
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