Builder's insurance

For the last week, I've been slowly -- very slowly -- uncrating the fuselage parts and taking inventory, adding shelves to the shop and generally being anal. For example, I've set up a database with every part, and description, and assigned a specific location in the garage, attic, family room, parts holder, babyfood jars etc.

While putting the landing gear and other PC parts in the crawl space over the garage yesterday, it occurred to me that the project has advanced to the stage that a good gust of wind (and with these houses they're building on cornfields in the Midwest these days, it'd only require a good gust of wind) will wipe several years of work out.

As I understand it, homeowner's insurance won't cover airplane parts or the various states of undress of an airplane construction project.

I remember that the Vanguard program provided coverage but when I went to the Web site, it talked about the Builder's Risk policy and mentioned that it includes $500,000 of liability. $500,000 of liability???? Why should I pay for that? Is that if the left elevator hinge gets carried away in a tornado and somehow comes down and conks little Martha waiting for a bus in Sheboygan?

Anyway, I'm figuring I've spent about $15-$17k on the parts/project so far and another $3,000 on tools and I'd like to just get something that if the house is flattened by a tornado, I can get a check for $20,000 to start over again.

I don't need liability. I don't want something whose price is pegged to how many hours I don't have in an RV I haven't finished yet.

What are you all doing for builder's insurance?

Hi, Bob. I got builders insurance from Falcon (EAA). I insured for about 75K at a cost of $750.00 per year. I got most of the stuff all at once, hence the big coverage. The balance can be converted to Hull and Liability coverage, once the project is completed.

Incidently, my Hull and Liabilty coverage with them went down a little for this year. It was $1975.00 last year for 90K no deductable coverage to $1911.00.

Roberta

Builders Insurance

Bob,

Try Avemco. They have builders insurance and liability coverage is optional. As far as liability is concerned, I think the issue is if someone is hurt while helping you or while you are showing your project top someone, your homeowners may refuse to pay since the airplane is involved. I htink my cost was $480 for 25K of hull and 500K of liability. I think the liability portion was about $135 of that.

Builders Insurance

Bob,

At the risk of doing a commercial I will instead tell you that I can provide Builders Risk (as can Nationair, Sky Smith, EAA,etc).

In theory we will all have the same rules and rates from the same companies and in the case of myself, JT & Sky we have access to all the companies out there writing RV's.

As far as liability goes most of the companies require some liability as a part of the policy but not all.

Give one of us a call or an email and we can get you numbers that apply specifically to you.

I even do the EAA program as do the others I would guess.

Be well and just choose someone you want to do business with and go from there.

After all, it's all about getting it in the air and pounding those rivets.

What about renters?

I'm going to be relocating to the Norfolk area and will resume building in earnest. However, I'll be renting and not purchasing. I'd like to be able to assuage any worries for the home owner.

I realize that building in a garage has very little increase in risk for the house. I have renters insurance to cover my posessions here in military housing which I will still use.

My big question is whether builders insurance protects me from liability from potential damages to someone elses garage I'll be using as my workshop? Any knowledge?

Regards, Paul

builders insurance

If you get the insurance with laibility coverage it will provide protection for the liability that comes from the project but you may want "premises" coverage added to be sure the "buildiing" is provided for as well. This usually can be added for around $35 per year.

I could get more technical but I think this should answer the actual question in non-Insurance speak.

Hope this helps.

Hey Jim! How are ya!?

Fellow builders, I know Jim and I know he will treat you right. I plan on getting a builders policy with him when I get to the wings. He is great! Plus, he's one of us as well!

Give him a call!