Builder's Insurance Suggestions

[Evan Carew]

I currently have builder's insurance from Avemco for just over $300.00
USD. Anyone else have a suggestion for a cheaper rate?

Much Appreciated in Advance.
Evan Carew

[Ed Wischmeyer]

> I currently have builder's insurance from Avemco for just over $300.00
> USD. Anyone else have a suggestion for a cheaper rate?

As far as I know, they're the only game in town for that.

Ed Wischmeyer

[Jerry Wass]

Is that per year, or till completed??

Evan Carew wrote:

> I currently have builder's insurance from Avemco for just over $300.00
> USD. Anyone else have a suggestion for a cheaper rate?
>
> Much Appreciated in Advance.
> Evan Carew

[Gig Giacona]

Per year. I just got off the phone with AVEMCO.


"Jerry Wass" > wrote in message
...
> Is that per year, or till completed??
>
> Evan Carew wrote:
>
> > I currently have builder's insurance from Avemco for just over $300.00
> > USD. Anyone else have a suggestion for a cheaper rate?
> >
> > Much Appreciated in Advance.
> > Evan Carew
>

[CW9371]

>
>> > I currently have builder's insurance from Avemco for just over $300.00
>> > USD per year. Anyone else have a suggestion for a cheaper rate?


Thats the cheapest around. Thats who i used and i sell aviation insurance.
Every other company reguires liablity with the builders insurance. And if your
think about it, 300 a year is pretty cheap.

[Barnyard BOb --]

>>
>>> > I currently have builder's insurance from Avemco for just over $300.00
>>> > USD per year. Anyone else have a suggestion for a cheaper rate?
>
>
>Thats the cheapest around. Thats who i used and i sell aviation insurance.
>Every other company reguires liablity with the builders insurance. And if your
>think about it, 300 a year is pretty cheap.
+++++++++++++++++++++++++++++++++++++++++

Simply amazing!!!!

From those that would not buy hull insurance for their flying aircraft
to those that want to protect the parts and pieces of what is yet
to become an aircraft.

Take all kinds.

FWIW...
I've thought about it and I don't see it as all that cheap given the
meager risks involved in my neighborhood and home. Therefore,
I consider this a good self insurance bet. Especially, if the engine
is not on site or of minimal market value.

So, what do you get for $300?
Fire and theft protection for parts and pieces of a project that
requires nothing but work that lives in your garage 24 hours a day?
Unless you're hugely paranoid, it's a lot of money for minimal risk,
IMO.

FULL coverage on my FLYING aircraft is a tad over $700.
Now that..... is pretty cheap.

YMMV.


Barnyard BOb --

[CW9371]

>I've thought about it and I don't see it as all that cheap given the
>meager risks involved in my neighborhood and home. Therefore,
>I consider this a good self insurance bet. Especially, if the engine
>is not on site or of minimal market value.

Depends on the kit. I had a F1 rocket kit. Thats 35 k right there. I couldnt
afford to lose it in a fire. Also if your took a loan out to buy the kit, most
likly insurance is required.

I suppose u wouldnt get renters insurance casue thats 150 bucks for 30k in
contents lol. IMHO

[Ben Haas]

What the Ins company says they will cover and what they really pay out
after a loss is the true story here. It probably would be cheaper to
get a rider on the homeowners policy if you are that worried. Either
way you will get short changed for them.
(CW9371) wrote in message >...
> >I've thought about it and I don't see it as all that cheap given the
> >meager risks involved in my neighborhood and home. Therefore,
> >I consider this a good self insurance bet. Especially, if the engine
> >is not on site or of minimal market value.
>
> Depends on the kit. I had a F1 rocket kit. Thats 35 k right there. I couldnt
> afford to lose it in a fire. Also if your took a loan out to buy the kit, most
> likly insurance is required.
>
> I suppose u wouldnt get renters insurance casue thats 150 bucks for 30k in
> contents lol. IMHO

[CW9371]

>
>What the Ins company says they will cover and what they really pay out
>after a loss is the true story here. It probably would be cheaper to
>get a rider on the homeowners policy if you are that worried. Either
>way you will get short changed for them.

U should read your insurnace policies so u know what is covered and what isnt.
Also a homeowners policy will not cover aircraft in any way shape or form so
parts for an aircraft arent covered. Also there is a limit to property that is
not at the address of the homeowners policy. Its all up to the person, if u
can afford to lose what your kit cost u, dont buy insurance. If you cant buy
insurance.

chris

[Robert Bonomi]

In article >,
CW9371 > wrote:
>
>
>>
>>What the Ins company says they will cover and what they really pay out
>>after a loss is the true story here. It probably would be cheaper to
>>get a rider on the homeowners policy if you are that worried. Either
>>way you will get short changed for them.
>
>U should read your insurnace policies so u know what is covered and what isnt.
>Also a homeowners policy will not cover aircraft in any way shape or form so
>parts for an aircraft arent covered. Also there is a limit to property that is
>not at the address of the homeowners policy. Its all up to the person, if u
>can afford to lose what your kit cost u, dont buy insurance. If you cant buy
>insurance.
>
>chris

One set of magic words is an "inland marine" rider. Can be written to cover
pratcically _anything_, anywhere, for damage from _any_ source. Tends to
*not* be inexpensive coverage.

[CW9371]

>One set of magic words is an "inland marine" rider. Can be written to cover
>pratcically _anything_, anywhere, for damage from _any_ source. Tends to
>*not* be inexpensive coverage.
>

one magic word is aircraft. Tends to void any personal lines coverage. Inland
marine wont cover aircraft parts, least not a personal inland marine policy. A
surplus lines commercial one would but then again there you would run in the
minimum premium clause which would make it expensive. Least thats the way it
is in wis and the other states i write insurance in.

chris

[Roger Halstead]

On 07 Oct 2003 23:53:28 GMT, (CW9371) wrote:

>>One set of magic words is an "inland marine" rider. Can be written to cover
>>pratcically _anything_, anywhere, for damage from _any_ source. Tends to
>>*not* be inexpensive coverage.
>>
>
My shop is covered by State Farm...They don't care what is in there.
They cover up to a percent of the shop value. I also carry "builder's
insurance from Avemco which at a current value (including engine,
prop and some instruments) is $80,000 it runs some where around $400 a
year.

Considering all the equipment in the shop it is well worth it.

Roger Halstead (K8RI EN73 & ARRL Life Member)
www.rogerhalstead.com
N833R World's oldest Debonair? (S# CD-2)


>one magic word is aircraft. Tends to void any personal lines coverage. Inland
>marine wont cover aircraft parts, least not a personal inland marine policy. A
>surplus lines commercial one would but then again there you would run in the
>minimum premium clause which would make it expensive. Least thats the way it
>is in wis and the other states i write insurance in.
>
>chris

[CW9371]

>My shop is covered by State Farm...They don't care what is in there.
>They cover up to a percent of the shop value. I also carry "builder's
>insurance from Avemco which at a current value (including engine,
>prop and some instruments) is $80,000 it runs some where around $400 a
>year.
>
>Considering all the equipment in the shop it is well worth it.
>
>Roger Halstead (K8RI EN73 & ARRL Life Member)
>www.rogerhalstead.com
>N833R World's oldest Debonair? (S# CD-2)
>


Roger, I would really read the policy over closely. I think u will find that
wont cover the aircraft or aircraft parts. Least here in wis state farm doesnt
cover anything having to do with aircraft.