Project - Hangar Insurance

[mswain]

I was wondering about insurance for my project this AM and thought I'd ask if such a things exists and/or if any of you have experience? My wings are essentially done and are in my garage at the moment. I just got a hangar a few weeks ago which I've got my basic fuselage and engine sitting in. I'd feel better if I had some sort of coverage in the event of fire or theft? My homeowners excludes "aircraft" parts.

[jaredyates]

I had it through avemco, and I think the premium was 1% of the value per year.

[patrickh99]

This is who I used. Best prices and coverage. Others want you to insure it like it is a flying airplane, and priced accordingly. They will adjust coverage as project progresses. And cover it while transporting to/from airport.

Harvest M. Jones
Falcon Insurance Agency, Inc.
1001 Water St., Bldg K, Ste 100
Kerrville, TX 78028
Phone: 1-866-647-4322
Fax No: 1-830-792-1144
www.falconinsurance.com

[mswain]

Thanks Jared and Patrick. I called and talked to Harvest, she was very helpful. Basically .006 times value, minimum 40K.

[Rob]

Butler Brown Insurance insurers projects I believe.

[whee]

Thanks Jared and Patrick. I called and talked to Harvest, she was very helpful. Basically .006 times value, minimum 40K.

That's kinda spendy insurance isn't it? Think my quote for regular coverage was cheaper than that.

[Zzz]

That's kinda spendy insurance isn't it? Think my quote for regular coverage was cheaper than that.

$240/year for $40K coverage is pretty good. I think I pay just slightly higher for my project insurance. It covers all components of your project for theft or loss, regardless whether they're at the hangar, your home, or a vendor shop. As you increase value by buying an engine or prop or just more elbow grease, you can bump up the insured value with a phone call.

Homeowners won't cover it if your house burns down.

[whee]

Oops, I just checked my calculator and I missed a zero. I even double checked it...😳