Build Insurance? - Canada

[acpilot]

I am currently building an RV14A and constructing as much as I can at my home in British Columbia. I have finished my empennage kit and I am presently working on the SB wings. I obviously now have a few $$ invested and much more to come so I think its time to start thinking about build insurance. I checked with my house insurance and wondered if it would be covered under contents. They were not sure and said aircraft are not included, however, not sure at what point parts become an airplane. I have decided to be safe its time to buy some build insurance. I am curious what others have done, especially Canadian builders. What type if insurance and which companies others are happy with.

Thanks in advance.

Dennis

 

[FlyingDiver]

Check to see if the EAA providers do Canada. I just renewed mine with Falcon.

Per the EAA page, they partner with Nacora in Canada.

https://www.eaa.org/eaa/eaa-membership/eaa-member-benefits/insurance

Basically, you get a not-in-motion policy to cover all the parts while building. It's a few hundred $ per year depending on the value of the components you have.

 

[riseric]

Dennis,
I self-insured while building the tail, wings and fuselage.
Then, I used COPA's (Magnes) Silver coverage for "Not in Motion" "aircraft under construction" as soon as I received the engine and prop. I insured the whole project's value at that time and increased coverage as further part$ were received.

 

[mc607]

Dennis,
I self-insured while building the tail, wings and fuselage.
Then, I used COPA's (Magnes) Silver coverage for "Not in Motion" "aircraft under construction" as soon as I received the engine and prop. I insured the whole project's value at that time and increased coverage as further part$ were received.

I went with Magnes as well, worked out to approx $10.00/$1,000.00.

 

[Weefle]

I tried early on in my build with Air 1. I had the empennage kit and the tools so about 10k worth of stuff. They wanted to know the finished value which I guessed at about 225,000.00. They came back with about a 4000.00 quote for insurance. Needless to say I told them forget it and I’m self insured till I’m ready to fly which will be next year sometime. They wouldn’t even throw in a T-shirt!

Keith

 

[Flying Canuck]

I took out a Marsh Silver Wings policy a couple of months before I moved my wings to the airport in 2017 while completing my finish kit, ultimately 14 months before final inspection. By this point I'd acquired all of the major pieces except the engine and that was only a couple of months later. Key to my decision was coverage for moving the airplane to the airport as well as coverage for parts in transit. I had a HDX display issue that require return to Dynon, this was covered by my insurance policy. This is a feature that I've used with my Gold Wings policy that I'm on now - I sent my prop back for teardown last year and didn't have to add insurance to the shipping.