Cheapest homebuilt LSA to insure?

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JayKoit

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Hi Everyone,

Looking for for some real world feedback, which 2 seat LSAs are generally the cheapest to insure? Especially for a low time (50 hour) sport pilot, and I'd get at least 10 hours of transition time in whatever type I end up building. Zenith? Kitfox? Vans rv12? Sonex? I don't want to build a plane that would cost me a fortune to insure. If anyone can throw out ballpark figures for what they're paying that would be super helpful. Thanks!
 

Dana

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Are you talking about 3rd party liability only or hull insurance as well? Liability insurance is relatively cheap, and I don't think it matters much how much time you have as long as you meet their minimum requirements. I'm paying $428 to insure my single seat FP-404 through Avemco, but the price through USUA or ASC (you have to be a member, another $50) isn't much different. Hull insurance is a different matter entirely, at least 4X as much, depending on the aircraft to be insured, and probably on the pilot's experience. Your best bet is to contact Avemco or Falcon or another aviation insurer (USUA and ASC don't offer hull) and ask them.

Dana
 

JayKoit

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Are you talking about 3rd party liability only or hull insurance as well? Liability insurance is relatively cheap, and I don't think it matters much how much time you have as long as you meet their minimum requirements. I'm paying $428 to insure my single seat FP-404 through Avemco, but the price through USUA or ASC (you have to be a member, another $50) isn't much different. Hull insurance is a different matter entirely, at least 4X as much, depending on the aircraft to be insured, and probably on the pilot's experience. Your best bet is to contact Avemco or Falcon or another aviation insurer (USUA and ASC don't offer hull) and ask them.

Dana
Hull and liability, ground and flight. When I was shopping for my first plane, the Kitfox 3 and Avid I was looking at was quoted around $12-1300 per year based on a hull value of $16K....

how much more could I expect to pay for a Sonex or Zenith etc. with a hull value of around 25K? I plan on asking some companies directly but just wondered who on this forum could throw out some figures...
 

TFF

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The more hours in type, the lower the cost. More ratings you have, the lower the cost. I doubt the difference between a $16K and a $25K airplane is that much. What they dont like is one offs or low numbers built.
 

Turd Ferguson

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Hull and liability, ground and flight. When I was shopping for my first plane, the Kitfox 3 and Avid I was looking at was quoted around $12-1300 per year based on a hull value of $16K....

how much more could I expect to pay for a Sonex or Zenith etc. with a hull value of around 25K? I plan on asking some companies directly but just wondered who on this forum could throw out some figures...
Hull coverage annual premium on common type homebuilts with a good record will run ~5-8% of the hull value, some can go as high as 10%, some are uninsurable. Liability is cheap.

Ask whomever is providing the quote if the premium is fixed or will it decrease in the second yr when you have more experience in type.
 

Teton123

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I just got my first LSA policy this week - Quicksilver MXII insured for $14K, $825 annually. I only had 8 hours in make and model when I bough it. (2200 hours ASEL, Instrument, etc.)
Just as a data point, I think the 5-8% of hull value quoted above is very realistic.
 

PTAirco

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For a Quicksilver there is no way I'd pay that much for hull insurance. I'd settle for liability and put the money in an emergency fund instead. It's a gamble, but repairing a Quicksilver ought to be dirt cheap (in aviation terms) - $825 probably buys you all the metal in the airframe. I'd just take the risk of writing it off.

I wouldn't do that with some kind of irreplaceable vintage type perhaps, whose value actually goes up over the years, but a homebuilt or Quicksilver? I think you'd come out ahead after a few years and if you manage to avoid accidents for for a few years you'll have saved a fortune instead of never seeing those dollars again. It's a risk, sure, but it's smaller than $825 a year in my opinion.
 

Dana

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Is that $825 just for hull or is that hull plus liability? What deductible? That can make a big difference.

Dana
 

Teton123

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Is that $825 just for hull or is that hull plus liability? What deductible? That can make a big difference.

Dana
That is hull plus $1 mil. liability - zero deductible for both in motion and not in motion. (Providing an EAA membership # to Global Aerospace eliminated the deductible)
 

bmcj

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For a Quicksilver there is no way I'd pay that much for hull insurance. I'd settle for liability and put the money in an emergency fund instead. It's a gamble, but repairing a Quicksilver ought to be dirt cheap (in aviation terms) - $825 probably buys you all the metal in the airframe. I'd just take the risk of writing it off.

I wouldn't do that with some kind of irreplaceable vintage type perhaps, whose value actually goes up over the years, but a homebuilt or Quicksilver? I think you'd come out ahead after a few years and if you manage to avoid accidents for for a few years you'll have saved a fortune instead of never seeing those dollars again. It's a risk, sure, but it's smaller than $825 a year in my opinion.
Plus, think about all of the unregistered MX2's out there that you can but for a song for spare parts. BTW, the one you want already has an N-number, right?


Is that $825 just for hull or is that hull plus liability? What deductible? That can make a big pdifference.


Dana
I don't know what liability cost, so I can't say if this is a good deal, but the biggest need of liability insurance is for the passengers you carry. A Quicksilver will not cause much damage to objects on the ground.
 
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