Insurance coverage Help

[Ottoman]

Does anybody know of an Insurance Co. that covers the aircraft parts in the garage while building? engine, instruments, parts, ect.
When does it become an airplane and not just parts?

Thanks,
John

 

[dstates]

I called the EAA insurance broker (Falcon) and Avemco. Both will cover the parts under construction. I believe Avemco will also cover some of your lost labor.

In July Avemco gave me a quote of $256/year for up to $14,000 in coverage (premium was based as a percentage of the value). I believe Falcon had a minimum premium of $250/year but that covered up to $40,000.

Of course you will have to do your own research for your situation, but that is what I discovered a few months ago.

Doug

 

[pazmanyflyer]

Does anybody know of an Insurance Co. that covers the aircraft parts in the garage while building? engine, instruments, parts, ect.
When does it become an airplane and not just parts?

Thanks,
John

Builders risk not-in-motion insurance.
Contact Leah Ringeisen
877-520-6247
[email protected]
www.ajg.com/lightaircraft

 

[BobTurner]

Does anybody know of an Insurance Co. that covers the aircraft parts in the garage while building? engine, instruments, parts, ect.
When does it become an airplane and not just parts?

Thanks,
John

I second calling Leah.
This builders insurance is usually valid up to but not including engine start. But, read the policy for details, like, does it cover moving from home to airport, etc.
In case you're new to aviation insurance:
AVEMCO is a direct writer. Call them to get their quote.
Everyone else uses "brokers" (like an independent insurance agent for cars). Call Leah (she's with Gallagher Agency, a broker) and she can get you quotes for everyone except AVEMCO.

 

[Ottoman]

Thanks

thank you all for the quick reply!

 

[fl-mike]

It’s call “not in motion” coverage.
You can start the engine, but make VERY sure the plane can’t move (tie it to your car). If it jumps the chocks…..well….in motion!