Hi:
Building period insurance: I do have a home insurance policy
which DOES cover the kit as part of my policy. It is offered through
ROYAL INSURANCE in Canada and I have the the top of the line
product type.
Compared with the basic home insurance package offered as well
I estimate it costs me less that $100 Can $ per year extra to have
my kit covered, completely. It is also a policy paying out double
the estimated value on the house in case of a total loss. Check
this out as I have heard other builders pay in the order of $300-$00
US (!) per year to have just the kit covered which I rather spend on
avionics etc...
Christoph Both UK#223, Wolfville, Nova Scotia, Canada
On 22 Feb 2001, at 22:15, MJKTuck@cs.com wrote:
From: MJKTuck@cs.com
Subject: Re: Insurance
Yes its true - homeowners insurance does not seem to cover a homebuilt. Its a
high cost item I guess. Not to worry though you can insure it for very little
during the build through Aircraft Insurance brokers like Avemco.
Once you start flying you will have more of a bill. Mine is around $1,800 for
hull and liability - but I pay for it per quarter and it seems less painful
that way. It is by far the largest expense on my Europa per year as avgas is
around $2 a gallon here and I burn 3 gallons/hour so I try to fly around 100
hours resulting in about $25 per hour total operating cost (haven't made 100
hours a year yet though!).
Regards
Martin Tuck
N152MT
Wichita, Kansas
|