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Experimental Cubs (insurance)

Cub Cowboy

Registered User
Litchfield MN
I am just about to finish up my cub project and was wondering who is the best insurance company for experimental cubs in the lower 48 Thanks in advance for any suggestions or ideas
 
Why not check with Avemco? For my experimental, I plan to self insure and just go with liability and non-movement. I figure there is nothing I can't repair on mine.
 
Just thinking out loud here....if you have hull insurance does the insurance company pay to get the plane out of where ever it gets wrecked? That could be a pretty big ticket item...and not necessarily something you can do on your own...depending on where you fly or where you end up. Sometimes means a long road trip...but other times means a helicopter.

cafi
 
Recovering the aircraft from the incident/accident site usually is covered by hull insurance. Basically the insurance "owns" the airplane till the damage is resolved.
 
Cafi
Avemco paid for the recovery of my Cub. Ten grand to recover it, Seven thousand was for a helicopter. They also paid for the storage at a salvage yard until all was settled.
 
Thanks! I thought that was the case...and my point was really that there is more to hull than fixing your plane. Just wanted that info out there.

cafi
 
Avemco wanted 3700 a year for my Smith Cub!! and that was with 4500 hours of cub time and over 10,000 tt. Crazy. Joe
 
But, Joe, they have been watching. 8)

I just got a quote from AIG on the Smith. a little under 1800
 
Avemco rules in my opinion. However I sure don't like the 100K limit on passengers - however that's standard on most policies and if you pay more you get more.
cliff in Maine
 
Just renewed with Avemco on my Legend.Cost $1600 for 100K hull and std liability.They will give 5% discount for min 3 hrs logged dual instruction in the last year(excluding flight reviews) and 5% for attending safety seminars or doing on-line safety courses.Not an experimental cub but I thought pretty reasonable rate.It actually went down 200 bucks from last year.

Bill
 
Doesn't EAA have an insurance program for experimentals through some underwriter or broker? I know the EAA Vintage Club does one for vintage airplanes. Their price is sometimes the lowest... and sometimes not. BTW, the broker (AUA) boasts of "no off-airport exclusion".

Eric
 
Carey that's a great deal---How much do they want if you fly it?

Dennis
 
insur

Avemco charged me just under 2400 for 90,000 hull and the normal
liable. It was the first of it's kind exper. cub with two pilots each over
2000 hrs. Don't care where I leave it, below the artic circle. Wayne
 
I may be wrong, but doesnt 'hull' coverage only cover things when the plane is not in motion? Thats how my policy read when I carried hull insurance. Liability only once the prop was turning. That was with USSpecialties ins.
 
I had liability once--- it covered the field I hit but nothing else.

DW
 
David,

No, hull coverage is essentially "your" insurance, providing reimbursement if your property (the airplane) is damaged. You can buy in motion and/or not in motion. Generally, a hull coverage policy will pay for damage to the aircraft wherever it occurs.

Not in motion coverage (which is cheaper) only covers the airplane when it is not flying (generally only used when the airplane is in storage).

Liability covers YOU, not the airplane, from lawsuits, etc, in the event someone is hurt in or by your airplane, or damage to someone else's property occurs from such an accident.

Folks who buy full hull coverage, are covered to the stated value of the aircraft if it's damaged.

If you had not in motion coverage, it was only part of the full hull coverage. But, what coverages you choose are up to you.

Most commonly, if someone is going to park an airplane for the winter, for example, they'd put not in motion coverage on it, then convert to full coverage in the spring.

MTV
 
Thanks for the clarification Mike. My concern was perhaps there was someone out there that was not covered as well as they thought.

My policy was "hull, not in motion". Of course thats even gotten too expensive for my budget, so now its liability only for me. :eek:
 
David,

For all the years I owned airplanes in AK, I couldn't justify the hull coverage cost, so I ran liability only. At the moment, hull coverage isn't too bad on my plane here, so I carry it, but...

Insurance is a very confusing topic, no doubt.

MTV
 
Thanks to every one for your input, My first quote was from AIG for $100,000 hull in motion 750hr pilot $2700.00
 
AIG is a pretty sick company in my opinion right now - I hope if you have a claim they can pay it. I sure wouldn't have anything to do with them right now - go with Avemco. I have 95K coverage, i'm about 600 hour pilot and i'm paying only $1700 a year. Why would you want to pay $1,000 more a year and be insured with a company having extreme financial difficulties right now?
In the real world if you had an accident and got hit with a million dollar judgment and found your insurance company just filed for bankruptcy - they would go after your assets.
Let's see AIG stock over the last 52 weeks had a high of $52 now it's trading at 86 cents - that's DOWN 99% - and this is the company you want to get your insurance from - what are you nuts!!
I hate to think how many people on this site have airplane insurance through AIG.
Cliff in Maine
 
You can check the financial strength of the companies through AM Best or Moody's. The agent you are using or the company should be able to tell you their "Best rating." Keep in mind that AIG has many difference companies. One may be in trouble and another not. That's what makes this stuff so aggravating. :eek:

cafi
 
OVEREASYGUY said:
AIG is a pretty sick company in my opinion right now - I hope if you have a claim they can pay it. I sure wouldn't have anything to do with them right now - go with Avemco. I have 95K coverage, i'm about 600 hour pilot and i'm paying only $1700 a year. Why would you want to pay $1,000 more a year and be insured with a company having extreme financial difficulties right now?
In the real world if you had an accident and got hit with a million dollar judgment and found your insurance company just filed for bankruptcy - they would go after your assets.
Let's see AIG stock over the last 52 weeks had a high of $52 now it's trading at 86 cents - that's DOWN 99% - and this is the company you want to get your insurance from - what are you nuts!!
I hate to think how many people on this site have airplane insurance through AIG.
Cliff in Maine

AIG general corp (on the exchange) and their stand alone subsidiary which underwrites aircraft coverage are NOT the same entity and any weakness from or failure by the parent does not trickle down but typically profits from the un-traded sub. do go back to the parent....

As SteveE, he's in the middle of a rebuild claim presently...
 
I am shopping insurance again. I am checking with EAA/Falcon now because Avemco wanted $3300/yr for full coverage. Seemed kinda nuts. Liability only was $554/yr, not bad. I have no priors and was getting hull for $75K. Will report back.
 
From what I have seen Experimental insurance seems to run about twice what certified runs on like aircraft and hull.
 
Just got a quote from EAA/Falcon:

- Liability Insurance Only $600
- Liability Insurance and Ground Only Hull Insurance $1,000
- Liability Insurance and Ground Only (Including Taxi) Hull Insurance $1,150
- Liability Insurance and All Risks Hull Insurance $1,900

Checking Regal now.
 
I have used AUA (Aviation Unlimited Agency) to broker my insurance. I have had several others quote it, but AUA always came back on top.
 
Bugs66 said:
Just got a quote from EAA/Falcon:

- Liability Insurance Only $600
- Liability Insurance and Ground Only Hull Insurance $1,000
- Liability Insurance and Ground Only (Including Taxi) Hull Insurance $1,150
- Liability Insurance and All Risks Hull Insurance $1,900

Checking Regal now.

On the $1900 quote, what is the declared value of the hull?

Lou
 
Oops! Didn't see you said $75000 in an earlier post.

I pay $2800 with $150K hull....open policy, $1million smooth. Pricey but worth it.

Lou
 
Lou
Is that for your Exp. airplane? I have not found anyone that would write
1,000,000 on a Exp. Who are you with?
Doug
 
I am still getting more quotes but wow, $150K huh? I guess you can say it's worth as much as new CC Cub. I was thinking the $75K is average market for Super Cubs. I would be happy to just get that much.
 
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