Builders Insurance

[Sebastian]

Hi all.
I am sure this is addressed some where on the forum that I haven't located but I could use some input. Most of you know that here on the Gulf Coast we had Harvey pay us a visit. I really hadn't thought much about builders ins since my shop has stood up to three past hurricanes but I do believe a fellows luck only stretches so far. Now we have Irma heading this direction and if this Irma is a grumpy as the other Irma I know I don't want to push my luck.

Since I haven't had any experience with this type of insurance any information on suppliers and pit falls in policy's would sure be helpful. I also think I have to have it prior to the hurricane entering the Gulf. Don't think I have long!
CJ

[Qboiler]

Have you tried to tie it to your home owners policy as a property rider. Make sure you take plenty of pictures... just a thought.

[Bcone1381]

I looked into it. The insurance supplier that I talked to needed a registration number, so I reserved one with the FAA, and since then have been procrastinating. If you in a hurry and don't want to wait on the FAA, my gut feeling was that one didn't really need an N number reservation.... and had they simultaneously applied for a vacant N number, and applied for the insurance using that N number all the information would have jived with the insurance companies software....just a feeling though.

[Sebastian]

Thanks guys. I already have two N#s reserved. Was also wondering what companies people might have used?

[Battson]

Any aviation broker should be able to help you. I insured the project right through the build, and was getting good rates by pushing my broker hard.
Of course the broker just leans on the Underwriter.
My underwriter was STARR, and still is now. I have had a great experience with them - including making a big claim.

[jaredyates]

I used Avemco for the build insurance, and the annual premium was 1% of the insured value. So for $65000 it was $650 per year.

[patrickh99]

I went thru EAA and pay $250 for $40,000 per year.

[Sebastian]

I finely made a decision on insurance.. Wound up with EAA, got a $100K for $650/yr.Not real sure I got a deal but It's one I could live with.