Just a data point for y'all. We bought our RV-8A last year (June 2013), with NO time in type.
The insurance company required five-hours of transition training for each of us. (My wife, Mary, is a pilot, too.) The bill for $78K of hull insurance was $1604/year. (Mary had about 800 hours, I had about 1500, at that point.)
This was quite a bit -- like, 25% -- higher than we were paying for insurance on our Piper Pathfinder, with $80K in hull insurance.
This year, after a year without a claim, the annual rate has dropped to $1300. This is still about $100/year higher than the Piper insurance, but within the margin of error, factoring in inflation.
I presume this is the norm, and that all of you first-year owners can expect to see a similar drop in the second year. YMMV.
The insurance company required five-hours of transition training for each of us. (My wife, Mary, is a pilot, too.) The bill for $78K of hull insurance was $1604/year. (Mary had about 800 hours, I had about 1500, at that point.)
This was quite a bit -- like, 25% -- higher than we were paying for insurance on our Piper Pathfinder, with $80K in hull insurance.
This year, after a year without a claim, the annual rate has dropped to $1300. This is still about $100/year higher than the Piper insurance, but within the margin of error, factoring in inflation.
I presume this is the norm, and that all of you first-year owners can expect to see a similar drop in the second year. YMMV.