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Thread: Experimental Cubs (insurance)

  1. #1
    Cub Cowboy's Avatar
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    Experimental Cubs (insurance)

    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

  2. #2
    Bugs66's Avatar
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    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.

  3. #3
    cafi19's Avatar
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    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

  4. #4
    Cub junkie's Avatar
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    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.

  5. #5
    Snert's Avatar
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    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.

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    cafi19's Avatar
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    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

  7. #7

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    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

  8. #8
    gdafoe's Avatar
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    But, Joe, they have been watching.

    I just got a quote from AIG on the Smith. a little under 1800
    Gerald

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    OVEREASYGUY's Avatar
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    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

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    Experimental Cubs (insurance)

    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

  11. #11
    hotrod180's Avatar
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    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
    Cessna Skywagon-- accept no substitute!

  12. #12
    DW's Avatar
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    Carey that's a great deal---How much do they want if you fly it?

    Dennis

  13. #13
    Wayne Mackey's Avatar
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    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

  14. #14
    RedEye's Avatar
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    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.

  15. #15
    DW's Avatar
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    I had liability once--- it covered the field I hit but nothing else.

    DW

  16. #16
    mvivion's Avatar
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    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

  17. #17
    RedEye's Avatar
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    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.

  18. #18
    mvivion's Avatar
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    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

  19. #19
    Cub Cowboy's Avatar
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    Thanks to every one for your input, My first quote was from AIG for $100,000 hull in motion 750hr pilot $2700.00

  20. #20
    OVEREASYGUY's Avatar
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    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

  21. #21
    cafi19's Avatar
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    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.

    cafi

  22. #22

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    Quote Originally Posted by OVEREASYGUY
    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...
    Remember, These are the Good old Days!

  23. #23
    Bugs66's Avatar
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    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.

  24. #24
    Steve Pierce's Avatar
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    From what I have seen Experimental insurance seems to run about twice what certified runs on like aircraft and hull.
    Steve Pierce

    Everybody is ignorant, only on different subjects.
    Will Rogers

  25. #25
    Bugs66's Avatar
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    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.

  26. #26
    Bushwhacker Air's Avatar
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    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.

  27. #27
    FdxLou's Avatar
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    Quote Originally Posted by Bugs66
    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

  28. #28
    FdxLou's Avatar
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    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

  29. #29
    brown bear's Avatar
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    Experimental Cubs (insurance)

    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

  30. #30
    Bugs66's Avatar
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    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.

  31. #31

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    I pay just over 1500 for my experimental. 65K Hull,million GL,100Keach seat or something like that. They will save you some money.
    Ask for Nancy, tell em Jeff sent you.

    Facer Insurance Agency, Inc.
    Address: 554 Liberty Avenue, Rantoul, IL 61866
    Mailing Address: P.O. Box 898, Rantoul, IL 61866


    http://www.facer-ins.com/html/

  32. #32
    FdxLou's Avatar
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    Quote Originally Posted by Bugs66
    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.
    I don't have an "average Super Cub" and I don't believe in under insuring...especially when you consider the type of off airport flying we do. I wouldn't trade my Cub for any CC, even a Carbon Cub(flown 2 Carbon Cubs). Great airplanes but not as capable for my mission.Just my 2 cents worth.

    Correction on the "$Million smooth". That was a different aircraft.

    Limits are: Deductibles: $100 not in motion, $500 in motion.

    Liability: $1,000,000 combined single limit bodily injury( incl passengers) and property damage.

    Passenger B.I. limited to: $250,000 each passenger.

    Medical payments: $3,000 each person.

    Open Pilot Clause: PPL/500TT/100TW/10M&M/TW endorsement.

    Alaska geographic endorsement eff. May12-Oct1. Deductible raised to $2,500each loss.

    I shopped everywhere possible and this is the most complete coverage avail for experimental.

    2010 Annual Premium: $2,845.00 ( no accidents, claims, high time ATP and 5,000hrs+TW).

    Since I am always looking to keep the cost down, can anyone beat this?

    Thanks,

    Lou

  33. #33

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    Insurance

    Hello all.

    I am a pilot and licensed agent. I've flown super cubs in the arctic, off-and-on for 10 years.

    Our insurance brokerage office works exclusively in aviation. We specialize in experimental aircraft, but insure all types of aviation risks.

    So, if you're having trouble getting insurance, or think your paying too much, please call or email me for more information.

    Thanks,

    Casey Roszell
    205-873-0917
    caseyrosz@aol.com

  34. #34
    aktango58's Avatar
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    Quote Originally Posted by FdxLou


    I don't have an "average Super Cub"

    Lou

    Isn't that the truth! :P


    but how many landings in that 5,000 hours????? and how much time OVER 5,000 msl?
    I don't know where you've been me lad, but I see you won first Prize!

  35. #35
    FdxLou's Avatar
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    Quote Originally Posted by aktango58
    Quote Originally Posted by FdxLou


    I don't have an "average Super Cub"

    Lou

    Isn't that the truth! :P


    but how many landings in that 5,000 hours????? and how much time OVER 5,000 msl?
    Probably 7,000+ landings(maybe more) and about 300 landings over 5,000 msl. As for time spent in cruise over 5,000 msl....maybe 1-2,000 hrs.
    Is there a point to your question?

    Lou

  36. #36

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    Ok, 2 things: First, this isn't a SuperCub Gathering, so the thread is in the wrong forum...might be hard for someone to find.

    Second, my insurance is through Aerospace Insurance Managers. http://www.aerospaceim.com/main_consumers.aspx click on "Find a Representative". They've been consistently about 20-25% less than the competition for the same coverage for everything from Mooneys to Pitts. I am not certain that they insure experimentals, but it's worth a phone call. The actual insurance companies that they write for are strong and the one person that I know who had a claim didn't have any problems getting paid (and they didn't drop him or jack up his rates after the fact.)

  37. #37

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    My insurance with Avemco is just over $3,600.00 for my PA-11 on amphibious floats valued at $70,000.00 and is the Experimental catagory for now. The biggest thing for the price is my amphibs and I only have a little over 100 hours of float time. 700+ TT in the 11. Could have increased the value for more money but I have way too much invested at this point but I can't afford to not have full coverage either.

  38. #38

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    You could throw a rock and hit the window of NORTHSTAR INS in Fargo, ND 7012352041 ask for Marc He makes all the companies bid it.

  39. #39

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    Just checked on insurance for an exp. SC with Avemco, $50,000 on floats they will not insure it. $40,000 on wheels $1,800+ and will not cover passengers.

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