L

leaker311

Active Member
I just got a quote back from my insurance company (AIG) and I thought it was a bit steep. I do realize that I can expect to pay a lot more in premiums because of it being an experimental (tailwheel) aircraft but I have no idea what a fair premium is. :confused:
They quote me for a little over 3000,- in yearly premium for an RV-7.
I am not a low time pilot but a newbie when it comes to tailwheels.

What do you guys think, is this a reasonable number?

thanks!!
 
Hull value?
Tailwheel time?

I had 10 hours of tailwheel and 175 TT when I bought my -4. The hull value was $48k and I paid $2100 the first year. $1300 the second year.
 
leaker311 said:
I just got a quote back from my insurance company (AIG) and I thought it was a bit steep. I do realize that I can expect to pay a lot more in premiums because of it being an experimental (tailwheel) aircraft but I have no idea what a fair premium is. :confused:
They quote me for a little over 3000,- in yearly premium for an RV-7.
I am not a low time pilot but a newbie when it comes to tailwheels.

What do you guys think, is this a reasonable number?

thanks!!
Click to expand...

How much "Hull" / How much "Liability"?
 
$1M liability, $75k hull on my 9A (hangared and asphalt field), 150 hours when I last renewed cost me $1600 and change. $3000 sounds a bit steep unless you have a lot of hull to insure.

greg
 
good point...

my hull is 130K and std liability...
they require that I get 25 hrs in tailwheel aircraft, dont know what to think of that because IMHO what really matters are the landings and not droning around for 20+ hours.
 
Tailwheel insurance is pricey

Advanced ratings, more than 2000 hours TT, and only 6 hours in TW, my 1st year (2007) cost was $2700 with $75K hull, $1million liability. The 2nd year was $1880 with $100K hull (had more than 250 hours TW time).

Bill
insured with NationAir
 
I'd say with those numbers, $3000 is about right.

I was quoted $2200, with 50hrs TW and was told I needed 10hrs RV TW. 80K hull
 
leaker311 said:
my hull is 130K and std liability...
they require that I get 25 hrs in tailwheel aircraft, dont know what to think of that because IMHO what really matters are the landings and not droning around for 20+ hours.
Click to expand...

Unless you have a very high-$$$$$ panel, that is a lot of hull coverage for a RV-7.

If you have no tailwheel time, you will need 25 hours of takeoffs and landings to be proficient.

(I have a thousand hours of TW and there are still landings when I wonder if I know what I'm doing.....:eek: )

Congrats on the new plane and have a fun and safe Phase One!
 
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insurance+

Please check with Jenny Estes @ Nationair. Jenny is easy to work with and is a pilot of an experimental. The company does advertise on this website, so your support of the sponsors is an excellent idea. 1-800-475-5860
The price for my RV-6 is $2100/year @ 125K. For me I was required to get RV tailwheel training and sign off from an approved source. I trained with Alex DeDominici near Dallas. He is a wonderful instructor and a great guy. You need to go to his website (listed under the training section) to check out his new RV-7!!!!

(Alex is also a great source of RV information and has specialty parts. I bought all my TruTrak and Advanced Flight System equipment through his company.)
 
Insurance

Thanks Doug, i just want to clarify that i am not a pilot of an experimental aircraft however i am around them as my dad has built several and currently still flies them. I do handle all the experimental accounts in our office.

Regards,

Jenny Estes
NationAir Aviation Insurance
877-475-5860
[email protected]
 
"Hull" value

I guess my insurance will be very pricey since I will need a LOT of "Hull" coverage...as much as I can get.

My last name is...(drum roll)...HULL! :rolleyes:
 
Man, some of you guys must think RV's are made of gold to have that much hull coverage.....Have you looked at the selling price of RV's lately?

I guess those high dollar panels need to be insured...

I insured mine for ~ what it cost me to build (less labor) with an allowance for paint when I get around to getting that done.

Liability: $1million/$100K/$1000 = $582.00
Hull: $65K = $1656
$100 deductable after Phase I, 10% deductable while in flight during Phase I, Chartis (the old AIG) is the underwritter...

At the time coverage was bound, I had a TW endorsement obtained in a RV6 and about 19 hours of TW PIC time in RV6 & 7's. PPSEL with Instrument Rating.
 
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setting hull coverage

When you are over-insured and have a significant partial loss (ie damage to the airplane that does not completely destroy it, but causes significant damage - think nose-over or a/c flipped in a tornado) the insurer may be forced to repair rather than declare a constructive total loss.

Or - you would end up negotiating for some reduced settlement amount and have to repair the a/c at your own expense.

Insure to VALUE - What would I need to replace this aircraft with like kind and quality?

It also costs a lot more in premium to insure at very high hull values. Hull premium is the significant driver of the overall premium with these airplanes.
 
Tailwheels

Sam Buchanan said:
(I have a thousand hours of TW and there are still landings when I wonder if I know what I'm doing.....:eek: )
Click to expand...

Uh, yeah... At over 2000 hours of TW time (including 350 in DC3s) it is still a learning experience! Never get complacent. :rolleyes:

John Clark ATP, CFI
FAA FAAST Team Member
EAA Flight Advisor
RV8 N18U "Sunshine"
KSBA
 
hull values

I still use the purchase price for my hull value. Even tho prices have gone down, I think you need to add $5000 if you were to fly somewhere to look at a 'replacement', have it inspected, possible taxes, fees, paperwork, importing, ferry flight etc. before you again have your new bird flyable and in the hangar.
FYI
I am a 100 hr pilot, fly 10-20 hrs a year, and have been quoted $2800 from Lloyds (through COPA/ Marsh canada) for $90,000 hull in motion, $1 million liability, $500 deductible, outdoor tiedown.
 
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