general questions about aviation insurance

Discussion in 'General Experimental Aviation Questions' started by jany77, Nov 7, 2015.

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  1. Nov 7, 2015 #1

    jany77

    jany77

    jany77

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    Hi guys , im looking for information regarding liability insurance for experimental airplanes,I have gyroplane I build and i m going true process of register it as experimental so I can buy insurance and apply for space in hanger,the one think is that the local airport want me to show them insurance with coverage for 1000000 $ per occurrence ,no such insurance I can buy ,one company offered me their insurance but for cost of 7500$ a year,my gyroplane did not cost that much to build it ,one other think I thought about was just move out of state to place where is it more flying friendly than I the expensive state of California's bull....it.
    Any advice is welcome
     
  2. Nov 8, 2015 #2

    kent Ashton

    kent Ashton

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    Sometimes they will accept coverage from a homeowners policy but i think your best move is to keep your gyro off-airport and trailer it in to fly. I have argued with FAA headquarters about these insurance requirements for aircraft stored on the ramp and never got anywhere.
     
  3. Nov 8, 2015 #3

    jany77

    jany77

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    I build my gyroplane the way that it can be taken apart without any tools within 10 minutes and carry on the roof rack or inside the van ,but even that I would need to get the access to the airport which I don't have and I don't know anyone who has ,most of my friends have their airplanes here ,but it is c-class airport .
     
  4. Nov 8, 2015 #4

    kent Ashton

    kent Ashton

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  5. Nov 8, 2015 #5

    jany77

    jany77

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    Thank you for the info ill look in to it
     
  6. Nov 8, 2015 #6

    Dana

    Dana

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    Find another airport. A class C airport isn't a good place for sport flying anyway.

    But... I pay $428/yr for liability, $1M coverage, from Avemco, for an experimental biplane. My home airport doesn't even require it, but I feel better knowing I'm covered if a gust of wind blows me into somebody's airplane.

    Dana
     
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  7. Nov 8, 2015 #7

    TFF

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    DO NOT fly at a towered airport. DO NOT fly at an airport that has a bunch of corporate flying. You may have the right but they will make you feel very unwanted. What part of California? I would think if close to the desert, there would be places. North probably not so much. Rotary wing insurance is not cheap. Scratch built really throws it in another category. My friend did not insure his Helicycle, but he had airplanes insured to get the lease of the hangar.
     
  8. Nov 9, 2015 #8

    Taiser

    Taiser

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    I know that Gyro insurance, at least here in Canada was/is insane so I skipped getting a Gyro, for now... instruction is hard to find too but there seem to be a few more places offering it. You'd think these things would be cheap to insure but for some reason it's not... :(
     
  9. Nov 9, 2015 #9

    Wanttaja

    Wanttaja

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    Check with the EAA program with Falcon Insurance. I coverage of a half-million per occurrence on my homebuilt (fixed wing, though) and the premium was less than $200.

    EAA Insurance Solutions | EAA

    Ron Wanttaja
     
  10. Nov 9, 2015 #10

    bmcj

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    Duplicate post
     
    Last edited: Nov 9, 2015
  11. Nov 9, 2015 #11

    bmcj

    bmcj

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    Have you seen that first hand or is it something you've heard? Personally, I think it is one of those self-propagating wives tales. I have never seen a homeowners policy that would cover that as a standard coverage (though one time exceptions are occassionally made). I would challenge anyone to read through their homeowners policy and find where it covers a flying aircraft. I looked through mine and, after muddling through the exemptions to other exemptions to even more exemptions (nested multiple levels deep), we found that aircraft accidents were specifically not covered.
     
  12. Nov 9, 2015 #12

    kent Ashton

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    Yes, I my airport accepted my homeowner's policy for a year or so when I had an airplane in hangar storage but was medically grounded. Would it have paid-off if I burned the hangar down? I don't know but it made them happy; that's all I wanted.

    I wish more owners would complain about insurance. A person can fly into and out of a public airport with no insurance yet if you are based there, you must carry insurance. Another thing that gets me is the requirement to provide the airport owner with an "additional insured" endorsement which raises the price for insurance generally. Did you know that making the airport an additional insured entitles the airport to half of your coverage? In an accident where a third party is injured and sues both you and the airport, the airport is entitled to half your coverage to pay it's own liability. Also the insurance company may be faced with defending two parties, you and the airport owner, so they factor that into the cost.

    Another thing is that that "an insured cannot subrogate a claim against his additional insured". This means that in the same sort of accident above, if the airport is partly at fault, you cannot bring a claim against the airport. You have waived the airport's liability.
    Leading Edge Aviation Insurance | Perils of Additional Insured

    State and federal laws grant us the right to use public airports (that we paid for) and do not require liability insurance to do so.
     
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  13. Nov 9, 2015 #13

    Turd Ferguson

    Turd Ferguson

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    Liability insurance is cheap. Just buy the minimum required by the airport. Even in the republic of Kallee-forn-nia, should be able to secure a policy for ~$200. You can also investigate the option of buying "non-flying" insurance. If the aircraft is not in flyable condition, some offer a lower cost policy.
     
  14. Nov 10, 2015 #14

    jany77

    jany77

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    The airport I m trying to move in is in class g ,but the airport behind my house is class c ,these two airports are about 10 miles apart, i m using the class c airport only when I rent airplane there ,the airport i m trying to move in has the minimum per occurrence 1 000 000$,most insurance don't sell anything like ,the maximum I found was something like 300 000 $ ,even If I register it as experimental I want be able to find the coverage to make them happy, my best bet would be just hang the flyer saying I m looking to share the hanger at the gate and hoping someone will call
     
  15. Nov 10, 2015 #15

    Dana

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    Did you try Avemco? As I said above my policy (their standard policy) is $1M liability per occurrence, for an experimental. Or is it the fact that it's a gyro the sticking point?

    Dana
     
  16. Nov 11, 2015 #16

    jany77

    jany77

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    Not yet ,I m making list of companies to call ,so far I called 5 insurance companies ,which only one of them would insure gyroplane but with very limited coverage.
     
  17. Nov 11, 2015 #17

    skier

    skier

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    I suggest asking over here: Rotary Wing Forum

    It's a forum specifically dedicated to gyros. They may have some good suggestions. I think I've seen Avemco mentioned on that site.
     
  18. Nov 12, 2015 #18

    Scarecrow56

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    Just for general knowledge. I did the insurance sales thing as a side biz many a moon ago. Everything that is in that policy is on the declaration page which is up front usually the 2nd page. Don't let those 20-30 pages intimidate you, that's all explanation of the declaration page. If you don't see it on the declaration page ITS NOT IN THERE.
     
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