Insurance Costs

[Daryl Lueck]

I just submitted a request for a quote from EAA/Falcon. Got a quote back for $2790.00 per year, with 0 deductibles and $50k in hull. The other interesting thing is I must have 10 hours of dual in the insured aircraft before I can fly solo.... Nice for EAA's "new" carrier to meet the needs of homebuilders.

 

I'll be following up with Falcon on the quote and the effect of dropping the hull insurance, or adding a deductible. My current policy with AIG is $1100 per year with $28k hull and no deductibles. We also have 4 pilots. The plane is a '67 Cherokee. I was very surprized at the cost difference. Just wanted to know if Falcon was inline and I need to get a part time job to pay for the Cozy insurance.

 

thanks,

Daryl

[Jim Sower]

What about self insuring the hull. For the first 20 years of Rutan based designs, hardly anyone had hull insurance. The really hi-$ kits [arguably] need it, but I have none on my Velocity or Long-EZ. The insurance company will insist on a deductable something like 10% of hull value (which is probably more than the materials to fix any "normal" accident would cost) and won't pay you squat for your own labor. Also, consider that nobody else is going to fix your airplane (to your satisfaction) so the rationale for hull insurance becomes pretty shaky.

Everything's a gamble .... Jim S.

[dust]

Thats my plan