REFLECTOR: Builders risk policy

[Douglas Holub]

I called Falcon for liability insurance before my first flight. After about 
a week the agent called me and said that no one would insure me because I 
didn't have enough total hours. Some required 250 and some required 500 (I 
only have 135.)  My airplane is fixed gear, 2-blade fixed pitch propeller, 
with a sub-200 hp engine, and I had 5 hours in type during factory 
transition training.

So I carefully planned how to avoid landing on any houses should anything go 
wrong, and flew the airplane for the first time without liability insurance.

A couple of days later Jim Stewart at Falcon called me to say that one of 
his companies would insure me, but not for first flight. So now I've got 
$500,000 of liability insurance for $683/year.

Doug Holub
N2980W, Standard FG
working on cooling the engine

----- Original Message ----- 
From: "Stockman, Bill" <bill.stockman at daytonaero.com>
To: "Velocity Aircraft Owners and Builders list" <reflector at tvbf.org>
Sent: Tuesday, March 10, 2009 2:25 PM
Subject: Re: REFLECTOR: Builders risk policy


> One interesting thing about Avemco.   Several year ago, I used them
> (1997-2001) for construction insurance and even had a minor claim that
> they immediately paid, no problems.  Early on, I even discussed premiums
> once I started flying, no problem.   About three months before my first
> flight, I decided to get the "real" flight insurance--they turned me
> down cold and said they were not interested at that time in further
> experimental policies.   Seriously pissed me off.
>
> I ended up with Falcon (they even covered the first flight and first ten
> hours unlike others) and have been great so far, but I also have not had
> any claims with them yet.  My two cents worth is we should support the
> companies who support us when we actually fly.
>
> Bill Stockman, Senior Associate
> Dayton Aerospace
>
> (937) 369-4799 cell
> (937) 426-4300 work
> bill.stockman at daytonaero.com
>
> -----Original Message-----
> From: reflector-bounces at tvbf.org [mailto:reflector-bounces at tvbf.org] On
> Behalf Of Andy Millin
> Sent: Tuesday, March 10, 2009 3:14 PM
> To: 'Velocity Aircraft Owners and Builders list'
> Subject: Re: REFLECTOR: Builders risk policy
>
> I have mine through Avemco.
>
> Cost will depend on what you declare the value to be.  I put the value
> as
> what I have into it.  You could figure it as replacement cost.  Your
> call.
>
> I don't recall the exact figure.  I think my last renewal was around
> $500
> for the year.
>
> Andy
>
> -----Original Message-----
> From: reflector-bounces at tvbf.org [mailto:reflector-bounces at tvbf.org] On
> Behalf Of Don Johnston
> Sent: 03-10-2009 2:29
> To: reflector at tvbf.org
> Subject: REFLECTOR: Builders risk policy
>
> For those of you that have insurance on your Velocity during the build:
>
>
>
> How much did it cost and who provided the policy?
>
>
>
> I'm having a bit of trouble finding a builders risk policy.
>
>
>
> -Don Johnston
>
> XL-RG
>
> www.velocity-xl.com
>
>
>
>
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