DID YOU KNOW liability coverage on a builders risk policy can give you peace of mind?

Builders policies protect your project from the unthinkable but have you thought about protecting yourself? By adding liability coverage to your builder?s risk policy, you will not only have coverage for the aircraft itself, but you will also have peace of mind. For example, if you are trailering your aircraft and it comes loose from the trailer, the project could become the least of your worries. What if part (or all) of the aircraft falls off the trailer and hits a car head on? How much damage could an aircraft in the middle of the interstate do? Liability coverage would help you in this situation. Liability insurance for builders risk policies is important for other reasons too, such as your aircraft causing a fire or someone being injured while helping to build or move the project. If you have your project covered, think about getting yourself covered as well.

I do know that. That's why I carry insurance on my project!

LRingeisen said:

Builders policies protect your project from the unthinkable but have you thought about protecting yourself? By adding liability coverage to your builder?s risk policy, you will not only have coverage for the aircraft itself, but you will also have peace of mind. For example, if you are trailering your aircraft and it comes loose from the trailer, the project could become the least of your worries. What if part (or all) of the aircraft falls off the trailer and hits a car head on? How much damage could an aircraft in the middle of the interstate do? Liability coverage would help you in this situation. Liability insurance for builders risk policies is important for other reasons too, such as your aircraft causing a fire or someone being injured while helping to build or move the project. If you have your project covered, think about getting yourself covered as well.

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Thanks for looking out for us with the reminders and info that many times we just don't think about. Your team is awesome

So with that analogy ,one should have liability insurance on your lawn mower if you trailer it. Your barbeque , wheelbarrow etc. anything you might carry in your trailer?

I appreciate your commitment to helping builders, but it isn't an airplane until it's an airplane. Unless you have something special, what you are offering is a General Liabilty Policy right?

Ron B. said:

So with that analogy ,one should have liability insurance on your lawn mower if you trailer it. Your barbeque , wheelbarrow etc. anything you might carry in your trailer?

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Absolutely correct. Just using a power mower, you should have coverage in case you kick a stone thru someone's eye. Most people's homeowners' insurance will cover these things, but often exclude anything with the word 'airplane'.

Last week Shanna helped me insure the RV-9A project I am purchasing Wednesday. Nearing completion and on the gear its a 600 mile trip back home on my trailer Thursday. In addition to a very reasonable builders risk policy, Shanna recommended the $1,000,000 liability rider. For only an additional $56, that's a bargain and makes me feel a whole lot better knowing if anything happens I have some additional coverage.

LRingeisen said:

Builders policies protect your project from the unthinkable but have you thought about protecting yourself? By adding liability coverage to your builder?s risk policy, you will not only have coverage for the aircraft itself, but you will also have peace of mind. For example, if you are trailering your aircraft and it comes loose from the trailer, the project could become the least of your worries. What if part (or all) of the aircraft falls off the trailer and hits a car head on? How much damage could an aircraft in the middle of the interstate do? Liability coverage would help you in this situation. Liability insurance for builders risk policies is important for other reasons too, such as your aircraft causing a fire or someone being injured while helping to build or move the project. If you have your project covered, think about getting yourself covered as well.

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Why wouldn't my auto policy cover liability arising from an unsecured load?

Just keep in mind that not for a single second are insurance companies interested in what's best for YOU.

Every state has different rules when it comes to insurance and so does each insurance company. One company may cover an aircraft being trailered whereas another may exclude it. Contacting your auto insurance agent would be the best way to confirm if there is coverage or not. The same works for a homeowner?s policy. Many people think their aircraft is covered by the homeowner?s policy because it isn?t completely built. In most cases, this is not true because aircrafts (whole or in parts) are excluded. Adding liability coverage to a builder?s risk policy gives you coverage for damages caused by your aircraft in which you could be considered legally liable.

Please keep in mind that we post information on the forum because we care about our clients. Sometimes people forget that we are people too, not just a computer screen or a faceless company. We have close relationships with a lot of our customers and view many of them as friends. We, as people, as an office, genuinely care about you. It?s worth noting that none of us make commission off the policies we sell. We do not have any incentive to sell you something you do not need.

Getting ready to truck my project 1000 miles..

Currently I have no coverage on my project but that is going to change tomorrow! I need to get this project covered and now in a few days, I will be loading my project onto an enclosed box truck and move it from Virginia to Florida..

What is the best way to cover this project during the drive?? The rental company DOES provide insurance coverage for damage to contents for a fee obviously... I am assuming that even without an accident, if something shifted inside the back of the truck and some airplane part got damaged, that this rider would cover that?? or not?? I should address that specifically with the rental company, but thots here??

I was concerned about this also, I contacted EAA (Falcon Insurance) to get a quote prior to the first flight. Full coverage, hangered, 100K hull was only $1,023. Decided to fully insure the RV7 3 mos. prior to first flight so it would be covered during transport to the airport. The difference between the builders policy and full flight and ground coverage was only a couple hundred bucks.

Jeff - In most instances, the aircraft is covered for transportation on a builder's risk policy without having to add any additional coverage. As far as the rental company's agreement goes for damage of the contents, I wouldn't be able to help you with that. Just a suggestion if you decide to go that route, I would discuss the timeframe as to when they would consider the aircraft under that protection.

Jake - Even though transportation is typically covered, we have several people that choose to update the policy to full flight prior to completing the build. One of the main reasons is because the aircraft is not covered under a builders risk policy once it is moving under it's own power. Putting fuel in the tank and starting the engine is allowed, but make sure that plane doesn't get away from you. So your situation is not uncommon.