Insurance for Kit

[sirwes]

I (my wife) just got a quote for insuring the Kit and it's about $450 a year from our homeowners insurance.
I haven't checked with Aircraft insurance companies to see if they insure kit aircraft.
Anyone have any suggestions about insurance.

(Or I might be sleeping with the plane soon)

[DBVZ]

Are you talking about insurance of the kit while it is under construction, for like theft and fire?

Or aircraft insurance for the Kitfox aircraft?

As a hobby project in your garage, I expect that the home owner insurance is likely to be cheap or already covered under "contents" unless excluded. If they are giving you trouble you may need a new HO insurer. For the aircraft, call a broker. I have Chartis insurance now for my situation, but a broker may find a company that fits your situation best.

[sirwes]

Yes it's in the building stage and wanted to make sure it was covered (Insurance) from fire, theft, trees falling on the building, rogue Racoon's. You just never know.

Thanks for the advice
Wes

[Dave S]

Wes,

It is a rare a homeowner's policy that will cover a kit under construction - most of them don't want to have anything to do with airplanes.

You may do a bit better with an aviation underwriter/insurer - good to check around - last info I had was most of them will insure a kit under construction for stated value @ 1% per year; i.e. $25,000 @ $250

If you are using a stated value of $45,000 for the kit in your house under construction - $450 is probably about what you will find.

Sincerely,

DS

[Agfoxflyer]

My insurance agent for homeowners said no way.Nothing related to an aircraft would be covered. I paid about $400/year thru Avemco for a construction policy. ($40,000 value) Converted to Falcon when flying. What was worse the County found me and I had to pay about $250/year taxes on a collection of parts for several years before completion.

[szicree]

Ditto what Agfox said. Homeowner's insurance almost always specifically excludes aircraft and aircraft parts. DO NOT simply take the agent's word for it -- read the policy!

[Paul Z]

Is is sort of like dealing with the Government or the IRS, they will lie!

[Tom Waid]

I insured my kit through the EAA. (Falcon Insurance) It's categorized as an "aircraft under construction" and, when it's ready to fly, I'll upgrade to standard aircraft insurance.

[sirwes]

Thanks for all the information. Our homeowners insurance will cover the airplane kit for $425 a year so I will make some calls to the insurance companies for quotes.

Wes
Kitfox 7SS, Corvair Power

[Paul Z]

I insured my kit through the EAA. (Falcon Insurance) It's categorized as an "aircraft under construction" and, when it's ready to fly, I'll upgrade to standard aircraft insurance.


I got my Insurance for 703KA from Falcon this year, it was about $900 less then AOPA's quote! I was definately pleased to see that!

[HighWing]

Paul's experience mirrors mine. My take on it is that EAA is pretty much required to help its members find insurance even for the more uncommon airplanes - even the one off amateur designs. Their risk pool is much higher and the costs are spread around (not to mention that EAA has become a money making machine and they most certainly get a major cut. Falcon has been insuring Kitfoxes for years and has real data to determine their rates. As a side note, we had AIG, (the much maligned insurance company in financial collapse discussions) through Falcon. It would take another page to describe the totally amazing way thay handled our claim when we went down. It was a positive experience that still amazes.
Lowell

[Dave S]

I'd like to second Lowell's comment...

[ Falcon has been insuring Kitfoxes for years and has real data to determine their rates. ]

When I called Falcon for information on insurance the conversation went something like this:

"What kind of plane do you have? - A kitfox - "Great"

"What engine?" - A Rotax 912 - "Great"

"What configuration?" - Nosewheel - " Great" - How soon can we sign you up?

Basically the Kitfox is one of the more insurable experimentals out there; and, Falcon both has experience and respects the Aircraft.:)

Dave S

[DBVZ]

Are you talking about insurance of the kit while it is under construction, for like theft and fire?

Or aircraft insurance for the Kitfox aircraft?

As a hobby project in your garage, I expect that the home owner insurance is likely to be cheap or already covered under "contents" unless excluded. If they are giving you trouble you may need a new HO insurer. For the aircraft, call a broker. I have Chartis insurance now for my situation, but a broker may find a company that fits your situation best.Sorry about the mis-information I posted. I checked, and the HO I have says if it is designed to fly people it is not a "hobby" aircraft, even as a kit. If it is a big RC plane, it is a hobby and covered as contents.

I also have Falcon as broker, and they like the Avid fine too. They found a couple sources for coverage, with different requirements. Some give different discounts, require more or less dual, etc. I may need to change the company next year, but not the broker. They declined to add my son as a student for Sport Pilot. When I got the insurance I was not aware my son would be interested enough to want a pilot cert.