REFLECTOR: Insurance - Build Coverage

[Reiff Lorenz]

Don,

I checked a number of options last month. The EAA plan (and others like it) did not cover transportation more than 25 miles. Since I was buying a used kit 60 miles away, that was not acceptable to me. Other plans required the assignment of a registration number and covered the kit like an aircraft - they even required flight liability coverage in case my pile of parts learned to fly without an engine! They were going to cost $2200 - $2800 per year.

What ended up working best for me was a rider on my home-owners policy. They charged 2.25% of the insured value, but every part of the kit is covered anywhere in the country . . . home, airport, builders-assist program, friend's workshop, etc. It's also replacement-value coverage, not out-of-pocket expense coverage; important for me because I didn't pay new-kit prices, but might have to if I had a total loss.

Maybe when I get to a phase of the build where I'm not moving it so much I'll switch to the EAA plan that just costs 1% of the value. For now, I'm happy with the better coverage even if the price is a bit high.

Hope this helps!

Reiff Lorenz
XL-RG, 0% done, 140% to go



From: reflector-bounces at tvbf.org [mailto:reflector-bounces at tvbf.org] On Behalf Of Don Johnston
Sent: Sunday, July 31, 2011 11:44 AM
To: reflector at tvbf.org
Subject: REFLECTOR: Insurance

Tagging on the end here with a separate question(s) for everyone:

What about build coverage? Did anyone get coverage during their build?

And does anyone have hull coverage? I was only able to get 100K. Which kind of sucks considering I passed that mark a long time ago. :-o

-Don Johnston


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