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Insurance Companies for Experimentals

Posted By:
Nick Myers
96
Posts
11
#1 Posted: 8/12/2010 11:21:50

I am thinking about going with a Davis DA2A, and I am wondering what some of the better (cheaper) insurance agencies are for experimental aircraft.  Which companies are more friendly to experimentals?

I quoted the same amounts from my Cessna 140, and ended up with 3 times the cost for the Davis.  This may be normal, but seems rather high.

Thanks!



Dave Prizio
Young Eagles Pilot or VolunteerHomebuilder or Craftsman
118
Posts
29
#2 Posted: 8/12/2010 15:48:27

You can get insurance through the EAA for your experimental. I have also used Avemco, who is especially good for bulder coverage. SkySmith insurance in Iowa has given me very good rates on my Sportsman and TX Sport Cub. There are a number of good choices. Shop around, because some companies are definitely better on certain types of experimentals than others.



Bob Mackey
Vintage Aircraft Association MemberWarbirds of America Member
15
Posts
4
#3 Posted: 8/13/2010 14:07:51

Hi NIck!

The EAA Aircraft Insurance Plan administered by Falcon Insurance Agency has been helping EAA Members obtain airplane insurance for all types of experimentals.  You could give me a call 877-230-3252 and we can discuss details or you could go online at www.eaainsurance.org to submit a quote request.

It is correct that in general comparing the cost of insurance for a Cessna to a Homebuilt the difference the price can sometimes be 2-times higher or maybe more but that 's not always the case.  A couple of the factors are type of construction, (i.e. wood or tube and fabric is more expensive to insure than composite or metal), and availability of parts, (i.e. kit aircraft with parts available vs. a plans built airplane where all parts must be fabricated).  Regardless of your choice in airplanes if you're woking with an aviation insurance agent that knows and understands homebuilts you should be able to find the right airplane insurance at a reasonable price.

Bob



Bob Mackey Falcon Insurance (EAA Aircraft Insurance Plan
Nick Myers
96
Posts
11
#4 Posted: 8/16/2010 09:32:39

Hi Everyong!

Bob, I did submit a request around the time of my first posting.  You should be able to find it in your emails.  Please check it out and get back to me because assuming this happens, it will need to be binding by Friday!

I have tried a few companies, and yes, some are about half what other are.  I actually have at least one company that offered something reasonable...now to see if we can get the cheapest one!

Thanks for all of the responses!



Victor theriault
Homebuilder or Craftsman
1
Post
0
#5 Posted: 8/16/2010 19:17:18 Modified: 8/16/2010 19:19:27

Hi Bob,

 

Just read your response to Nick.  I have a Progressive Aerodyne Searey kit due in about 3 weeks.  I'm in the process of financing a portion of the airframe kit and the finance compny is requiring "builder's insurance". I'm not sure exactly what that means.  I assume it is coverage for damages of the plane and/or material during the assembly process.  I thought maybe my home owners would cover it but they do not.  Does Falcon provide this type of coverge?

Regards,

victor

 



Nick Myers
96
Posts
11
#6 Posted: 8/20/2010 09:02:24

I just wanted to give everyone some feedback regarding what I found insurance-wise.

I ended up sticking with AUA who was able to find a company to do it for basically what my certified Cessna 140 costs.  There were a lot of companies that would not quote, and even Global Aerospace insurance quoted something about $300 more (for the same coverages) as what AUA found.



Ron Wanttaja
246
Posts
98
#7 Posted: 8/21/2010 15:06:03

I went with Falcon through EAA several years ago, and my premium dropped in half.  Just liability coverage, though.  Falco seemed to "get" that my Fly Baby was single-seat, and thus didn't need passenger liability coverage.

 

 



Ron Wanttaja
Scott Thompson
Homebuilder or Craftsman
3
Posts
1
#8 Posted: 8/31/2010 21:12:49 Modified: 8/31/2010 21:15:09

Yup, it all sounds good until you actually ask for insurance. Then you find out they have no interest in insuring a qualified pilot with a spotless record. Been there, done that. Thanks EAA and Falcon.

_____________________________________________________________________________________________

Hi NIck!

The EAA Aircraft Insurance Plan administered by Falcon Insurance Agency has been helping EAA Members obtain airplane insurance for all types of experimentals.  You could give me a call 877-230-3252 and we can discuss details or you could go online at www.eaainsurance.org to submit a quote request.

It is correct that in general comparing the cost of insurance for a Cessna to a Homebuilt the difference the price can sometimes be 2-times higher or maybe more but that 's not always the case.  A couple of the factors are type of construction, (i.e. wood or tube and fabric is more expensive to insure than composite or metal), and availability of parts, (i.e. kit aircraft with parts available vs. a plans built airplane where all parts must be fabricated).  Regardless of your choice in airplanes if you're woking with an aviation insurance agent that knows and understands homebuilts you should be able to find the right airplane insurance at a reasonable price.

Bob



Bob Mackey Falcon Insurance (EAA Aircraft Insurance Plan

 

 

 



Nick Myers
96
Posts
11
#9 Posted: 9/1/2010 08:45:16

I don't know if I would be that hard on Falcon, afterall they are just a business trying to make money.  If I were smart, I would have taken the lowest quote I received and given falcon a chance to beat it...but I guess I just don't like playing those kinds of games...that's why we have brokers!

That said, maybe next year when I have a few hours in this plane, Falcon may come in cheaper...they weren't grossly off the mark...just not the cheapest.