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Insurance coverage?

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larry(at)macsmachine.com
Guest

Posted: Wed May 14, 2008 12:12 pm Post subject: Insurance coverage?

Hi guys,



In discussing insurance with others at our airport, I find that only a 

few carry hull coverage.  Most, with exception to the jet owners, just 

carry liability insurance.  After a few short years, the hull is paid 

for in premiums.  Liability runs $300 to $600 and hull coverage takes it 

to $1400.00 or more. Any thoughts pro or con on the full coverage?



Larry McFarland 601HDS at www.macsmachine.com

Gig Giacona

Joined: 10 Jan 2006
Posts: 1416
Location: El Dorado Arkansas USA

Posted: Wed May 14, 2008 12:55 pm Post subject: Re: Insurance coverage?

It has always been my plan to carry in motion hull insurance for the first year. Mainly because I don't want to eat the cost of my plane should something fail during the Phase I flights.



That said there is a line of logic that says you are personally safer if you have hull insurance. The theory being if a problem happens you will be in the mind set that, "well the insurance company owns the airplane now" and do what is necessary to protect yourself and your passengers as opposed to protecting the airframe because the two might not always be the same.



As an example, if I were to install a BRS, I'd keep insurance on the hull forever.

 	  larry(at)macsmachine.com wrote: 	
		  Hi guys,



In discussing insurance with others at our airport, I find that only a 

few carry hull coverage.  Most, with exception to the jet owners, just 

carry liability insurance.  After a few short years, the hull is paid 

for in premiums.  Liability runs $300 to $600 and hull coverage takes it 

to $1400.00 or more. Any thoughts pro or con on the full coverage?



Larry McFarland 601HDS at www.macsmachine.com

_________________
W.R. "Gig" Giacona
601XL Under Construction
See my progress at www.peoamerica.net/N601WR

gfmjr_20(at)HOTMAIL.COM
Guest

Posted: Wed May 14, 2008 1:37 pm Post subject: Insurance coverage?

Larry--

   A Possible option ,kinda in between hull and no hull, is to carry liability along with hull non moving. At least it is then covered in the hanger.

  

 George May

 601XL 912s



 	  Quote: 	
		   Date: Wed, 14 May 2008 15:08:56 -0500

 From: larry(at)macsmachine.com

 To: zenith-list(at)matronics.com

 Subject: Insurance coverage?

 

 --> Zenith-List message posted by: LarryMcFarland <larry(at)macsmachine.com>

 

 

 Hi guys,

 

 In discussing insurance with others at our airport, I find that only a 

 few carry hull coverage. Most, with exception to the jet owners, just 

 carry liability insurance. After a few short years, the hull is paid 

 for in premiums. Liability runs $300 to $600 and hull coverage takes it 

 to $1400.00 or more. Any thoughts pro or con on the full coverage?

 

 Larry McFarland 601HDS at www.macsmachine.com

 

 

 

 

&======================
	


 	  Quote: 	
		   =================

 

 

 


	


Make Windows Vista more reliable and secure with Windows Vista Service Pack 1. Learn more.  [quote][b]

Gig Giacona

Joined: 10 Jan 2006
Posts: 1416
Location: El Dorado Arkansas USA

Posted: Wed May 14, 2008 1:55 pm Post subject: Re: Insurance coverage?

That is exactly what I was planning to do after the first year. Mainly because it is the only way I can get the carrier to cover the hanger.



 	  gfmjr_20(at)HOTMAIL.COM wrote: 	
		  Larry--

   A Possible option ,kinda in between hull and no hull, is to carry liability along with hull non moving. At least it is then covered in the hanger.

_________________
W.R. "Gig" Giacona
601XL Under Construction
See my progress at www.peoamerica.net/N601WR

amyvega2005(at)earthlink.
Guest

Posted: Wed May 14, 2008 3:03 pm Post subject: Insurance coverage?

George and Larry,

what I did was cover the hull cost to the replacement of the parts them selves.  so I am not assuming full replacement value, but $45,000.00 to replace the kit in the event the thing was totaled, I am not out the kit costs.

Juan



--

agbeyer(at)sbcglobal.net
Guest

Posted: Thu May 15, 2008 5:42 am Post subject: Insurance coverage?

Hi Larry,

  

 I have an HDS that has been in the air for 3 1/2 years with about 350 Hrs. on it.  I thought about taking off the moving hull a few times but have not.  A friend of mine with an older RV 6 broke a nose gear and slowly flipped it over and did $35,000 worth of damage to it.  That made me decide to keep all coverage on my plane.  All it takes is an engine out and an off field landing to do a lot of expensive damage to it.  It would be hard for me to cover the cost to replace what I have.  That is just my thought, but if I was "Rich" I might have just liability.

  

 AL from Oshkosh

  

  

 ---

ashontz

Joined: 27 Dec 2006
Posts: 723

Posted: Thu May 15, 2008 8:27 am Post subject: Re: Insurance coverage?

If you built it, you should be your own hull insurance. The savings in premiums could easily pay for materials. I intend to only get liability ins.



 	  larry(at)macsmachine.com wrote: 	
		  Hi guys,



In discussing insurance with others at our airport, I find that only a 

few carry hull coverage.  Most, with exception to the jet owners, just 

carry liability insurance.  After a few short years, the hull is paid 

for in premiums.  Liability runs $300 to $600 and hull coverage takes it 

to $1400.00 or more. Any thoughts pro or con on the full coverage?



Larry McFarland 601HDS at www.macsmachine.com

ashontz

Joined: 27 Dec 2006
Posts: 723

Posted: Thu May 15, 2008 8:29 am Post subject: Re: Insurance coverage?

This is about the only hull coverage I'd get in case someone plows into it while it's sitting at the ramp. Even then, I'm not sure how needed it really is, more the principal of the matter.



[quote="gfmjr_20(at)HOTMAIL.COM"]Larry--

   A Possible option ,kinda in between hull and no hull, is to carry liability along with hull non moving. At least it is then covered in the hanger.

  

 George May

 601XL 912s



 	  Quote: 	
		   Date: Wed, 14 May 2008 15:08:56 -0500

 From: larry(at)macsmachine.com

 To: zenith-list(at)matronics.com

 Subject: Insurance coverage?

 

 --> Zenith-List message posted by: LarryMcFarland <larry>

 

 

 Hi guys,

 

 In discussing insurance with others at our airport, I find that only a 

 few carry hull coverage. Most, with exception to the jet owners, just 

 carry liability insurance. After a few short years, the hull is paid 

 for in premiums. Liability runs $300 to $600 and hull coverage takes it 

 to $1400.00 or more. Any thoughts pro or con on the full coverage?

 

 Larry McFarland 601HDS at www.macsmachine.com

 

 

 

 

&======================

	


 	  Quote: 	
		   =================

 

 

 



	


Make Windows Vista more reliable and secure with Windows Vista Service Pack 1. Learn more.   	  Quote: 	
		  [b]

ggower_99(at)yahoo.com
Guest

Posted: Thu May 15, 2008 10:09 am Post subject: Insurance coverage?

Hello Gig,

   

  This is an advice in the best of my good intention,  nothing against your post, but here is what is the world wide criteria:

   

  In case of emergency landing  NEVER EVER think of saving the airplane (first)...  FLY IT down always,  keep your normal approach speed always,  and land as if you were landing in a 1st class golf course...    Remember the place we chooses  to make the landing was our best option.

   

  Trying to save the airplane (even the landing gear),  gets instictive reaction to slow the plane (pull the joke),  the result: a low altitude stall and SMASH!  even if it not spin.  Mostly with fatal results or very serious injury.   This  INCLUDING  totaling the precious airplane that seconds before we were comited to save.

   

  People  (included us, the passenger and people in the land)  are first, then our loved airplane.

   

  We sometimes read something like this in the "Yellow News" :  "The pilot lost control of the airplane and nearly missed a family in a picnic area and crashed to the trees...  

  The most probable thing was that he was in an emergency landing in full control,  but at last moment saw them, veered and gave his life for them....

   

  Saludos

  Gary Gower



Gig Giacona <wrgiacona(at)gmail.com> wrote:

  [quote]--> Zenith-List message posted by: "Gig Giacona" 



It has always been my plan to carry in motion hull insurance for the first year. Mainly because I don't want to eat the cost of my plane should something fail during the Phase I  flights.



That said there is a line of logic that says you are personally safer if you have hull insurance. The theory being if a problem happens you will be in the mind set that, "well the insurance company owns the airplane now" and do what is necessary to protect yourself and your passengers as opposed to protecting the airframe because the two might not always be the same.



As an example, if I were to install a BRS, I'd keep insurance on the hull forever.



larry(at)macsmachine.com wrote:

[quote] Hi guys,

 

 In discussing insurance with others at our airport, I find that only a 

 few carry hull coverage. Most, with exception to the jet owners, just 

 carry liability insurance. After a few short years, the hull is paid 

 for in premiums. Liability runs $300 to $600 and hull coverage takes it 

 to $1400.00 or more. Any thoughts pro or con on the full coverage?

 

 Larry McFarland 601HDS at         [quote][b]

n85ae

Joined: 14 Mar 2007
Posts: 403

Posted: Thu May 15, 2008 11:17 am Post subject: Re: Insurance coverage?

Carry $65K on my Kitfox, because that's what I invested in it. 



I landed it really nicely on a gusty day, and in less time than it takes to 

type this I ended up doing a 270 degree turn, off the runway and right

to the edge of an embankment. Had I not mashed on the brakes at

the last second I would have reverse taxied off the edge of the 

embankment and who knows how messed up my plane would have 

been. Also luck my prop didn't hit anything on the way.



Just wish I hadn't done it lunchtime on a Saturday in front of the

airport restaraunt.



This COULD easily have been a - Boy am I glad I got insurance

situation.



That extra $1000 per year sure sucks though ...



Jeff

n85ae

Joined: 14 Mar 2007
Posts: 403

Posted: Thu May 15, 2008 11:20 am Post subject: Re: Insurance coverage?

Here's a great example of how simple it is to wreck your pride and joy



This was a previous Oshkosh Grand Champion:



http://www.youtube.com/watch?v=STgFaZG-S1c

rtdin

Joined: 16 Mar 2008
Posts: 46
Location: Florida panhandle

Posted: Thu May 15, 2008 9:37 pm Post subject: Insurance coverage?

I got what I think was a good deal from AVEMCO couple of years back on a certified four seater. Insurance was required by the county airport commission. They even wanted to be named as coinsured on the hull to cover their hangar. I got a big deductible on in-motion and the county was happy. I paid about $1K or less for all. When rating me, they fixated on my retrac and multi time though this was a fixed gear single. I only had maybe 100 hr in type 35 years prior. I may have been cut a good deal for lots of experience, good training and a spotless record. Later, a hurricane destroyed the plane in its hangar and AVEMCO came through with a big check, hauled it away and I didn't even have to sweep out the hangar. Full coverage was a good deal for me.

 Bob Dingley

 Pace FL  601XL Do not archive

 

**************

Wondering what's for Dinner Tonight? Get new twists on family favorites at AOL Food.

      (http://food.aol.com/dinner-tonight?NCID=aolfod00030000000001)  [quote][b]

Gig Giacona

Joined: 10 Jan 2006
Posts: 1416
Location: El Dorado Arkansas USA

Posted: Fri May 16, 2008 7:13 am Post subject: Re: Insurance coverage?

Gary, I couldn't agree more. Hence the comment that having the hull insurance makes you safer because you can put into your head that, "well the air frame belongs to the insurance company now."



Without such coverage there would be, right or wrong, to try to save the aircraft and that can get you killed. That was pretty much the point of my post.

_________________
W.R. "Gig" Giacona
601XL Under Construction
See my progress at www.peoamerica.net/N601WR

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