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Thread: Insurance

  1. #1
    Junior Member
    Join Date
    Apr 2021
    Location
    Solway, MN
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    7

    Default Insurance

    Counting down the days before parts start showing up for the EX3. A question for other builders. What are you doing for insurance during the build? Found out that my current policy for my hangar will not cover parts for building an aircraft. Thanks.

  2. #2
    Senior Member
    Join Date
    Mar 2016
    Location
    Idaho
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    246

    Default Re: Insurance

    Not much help, but I couldn't find insurance to cover the build.
    Dan Arnold
    KEUL

  3. #3
    Administrator Pete D's Avatar
    Join Date
    Jan 2010
    Location
    Yakima, WA
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    1,047

    Default Re: Insurance

    I have not used them and don't have any first hand reports but EAA has a Aircraft Project Insurance program;

    https://www.eaa.org/eaa/eaa-membersh...insurance-plan
    Pete Dougherty
    R & D Shop Manager
    Cub Crafters Inc

  4. #4
    Junior Member
    Join Date
    May 2020
    Location
    Seward, AK
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    4

    Default Re: Insurance

    Avemco is insuring our EX-3 kit during build. Max coverage is $200K

  5. #5
    Senior Member
    Join Date
    Jul 2020
    Location
    FL001
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    150

    Default Re: Insurance

    For FX-3's being financed such as mine I was required to get builders risk insurance at the start of the build. You may want to look into the same thing. Ladd Gardner handles my insurance, it was provided by STARR.

  6. #6
    Senior Member Andy's Avatar
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    Dec 2019
    Location
    Glendale, AZ
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    388

    Default Re: Insurance

    Quote Originally Posted by hawgdrvr View Post
    For FX-3's being financed such as mine I was required to get builders risk insurance at the start of the build.
    Well that's a big surprise to me. I thought that CubCrafters assumed all risk until I signed for the airplane on delivery day.

  7. #7
    Senior Member
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    Jul 2020
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    FL001
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    Default Re: Insurance

    Quote Originally Posted by Andy View Post
    Well that's a big surprise to me. I thought that CubCrafters assumed all risk until I signed for the airplane on delivery day.
    They absolutely do! This is a lender driven requirement and I'm not happy about it at all. They also want full flight coverage on the plane once the engine goes on. Don't get me started...but it's ludicrous. Long story short, this was NOT CC's doing.

  8. #8
    Senior Member Andy's Avatar
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    Dec 2019
    Location
    Glendale, AZ
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    388

    Default Re: Insurance

    Quote Originally Posted by hawgdrvr View Post
    They absolutely do! This is a lender driven requirement and I'm not happy about it at all. They also want full flight coverage on the plane once the engine goes on. Don't get me started...but it's ludicrous. Long story short, this was NOT CC's doing.

    I can only assume that your lender is unable to distinguish between a kit build and a factory assist build.

  9. #9
    Junior Member
    Join Date
    Apr 2021
    Location
    Solway, MN
    Posts
    7

    Default Re: Insurance

    Thanks for the information. I will be making some phone calls.

  10. #10
    Senior Member
    Join Date
    May 2014
    Location
    United States
    Posts
    118

    Default Re: Insurance

    this is a nasty graham I received from insurance co.
    At what point do I self insure or quit flying.

    [QUOTE

    Global Aerospace would like to inform you of the following:
    The conditions in the aviation insurance market continue to evolve as the industry works to quantify the impact of the claims being presented. As a result, the above-reference policy may be subject to a premium increase with respect to the upcoming renewal.

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