Hull Values vs. Salvage Values vs. Repair Charges

[Darrel Starr]

I was concerned that I would not be able to get adequate coverage for N18SY after an extensive and expensive rebuild mainly because it started out as a 1950 model. But Avemco was great to work with. At their request I sent them a lot of pictures of the restoration and finished product. I also sent them the cost summary of everything that went into the restoration, a very detailed spreadsheet which they really appreciated. They came back with an insured value that will keep me whole if something happens and is well above what I expected they would go for. So I couldn't be happier with Avemco.
Also, my hangar neighbor and "Stealth Clipper" owner, John Wood, on his way to Alaska a few years ago to attend a short wing Piper Club meet had someone in a Pacer taxi into his tail. He and his traveling buddies made some temporary and ingenious repairs on the spot and continued the trip. When he got home, Avemco agreed to pay the proper repairs and recover the fuselage and tail. He was a happy camper.
Darrel

 

[Gilbert Pierce]

In the case of insuring my modified and restored 1949 Clipper, Avemco said what I wanted to insure it for was more then the value listed by one of the agencies that values airplanes. I pointed out to Avemco that they do not do a realistic job of evaluating older tube and fabric airplanes.

Avemco said if I would send them pictures and a letter detailing the restoration and modification they would insure it for more. I did that and Avemco agreed to insure it for what I felt it was worth, which was considerably more than the $45,000 they initially agreed to.

I think Avemco tries to do what is right in this area.

 

[Stealthchicken]

I'm a little late to this thread, but I have a question for those that have had to recover a downed airplane from some remote terrain. My broker tells me that a liability-only policy doesn't pay for recovery of the aircraft (confirmed elsewhere in this thread), and I can imagine many situations wherein recovery is required by law (e.g., national parks, wildlife areas). I can also imagine situations wherein it could be very, very expensive (e.g., helicopter recovery required). So, how much does the average recovery run? How much for a likely worst case (helicopter 20 miles to nearest road, load on trailer, truck for another 50 miles, etc.)?

I'm tempted to go with liability only on some of my aircraft, but the thought of paying an (almost) unlimited amount for recovering the downed aircraft makes me think again.

 

[aktango58]

stealth,

Worst case scenario: flying a helo from Fairbainks or Anchorage to the north slope to fly a plane out 200 miles to the nearest road or villiage...

Even 20 miles when it took 6 hours for the helo to get there and another six to go home...

A big engined Astar can pick a cub. How far do they need to go to get to you?

 

[skywagon8a]

Maybe I am out of the loop, but I thought that liability paid for the recovery.

Many years ago, early 80s, my insurance covered all of the United States and Canada except Alaska. They refused to cover Alaska even though the northern areas of Canada are just as remote and hazardous. I was going to Alaska so since I wasn't covered I canceled the insurance. Once in Alaska when I was way out in the boonies a tree blew over in a storm and broke a wing. To make a long story short I made temporary repairs, flew it home, and had the wing properly rebuilt in a jig. The total cost was less than the deductible of $5,000 plus the insurance premium. I have been uninsured ever since. The premiums that I have saved will pay for the plane several times over. Granted I did take a risk for a while. I have made many trips to Alaska across the northern middle sections of Canada. The greater risk would have been, even if I were not injured, "How the Hell do I get out of here?" I know that I couldn't walk very far without a canoe. Even if the plane was repairable it would likely stay there forever.

 

[Steve Pierce]

I'm a little late to this thread, but I have a question for those that have had to recover a downed airplane from some remote terrain. My broker tells me that a liability-only policy doesn't pay for recovery of the aircraft (confirmed elsewhere in this thread), and I can imagine many situations wherein recovery is required by law (e.g., national parks, wildlife areas). I can also imagine situations wherein it could be very, very expensive (e.g., helicopter recovery required). So, how much does the average recovery run? How much for a likely worst case (helicopter 20 miles to nearest road, load on trailer, truck for another 50 miles, etc.)?

I'm tempted to go with liability only on some of my aircraft, but the thought of paying an (almost) unlimited amount for recovering the downed aircraft makes me think again.

Time and mileage. In this instance we have 13 hours of driving 750 miles and 3 hours of disassembling and loading. Another couple of hours of loading tools and equipment and unloading in the storage hanger. A trailer and a bunch of friends helps considerably. Luckily on this trip we had lots of help.

 

[mike mcs repair]

How much for a likely worst case (helicopter 20 miles to nearest road, load on trailer, truck for another 50 miles, etc.)?

heee thats funny 20 miles to nearest road...worst case.....

I had one i went and patched up that was ~800 mile ferry flight from king cove in the winter.. the people who bought it's salvage their mechanic was grumbling that it should never have been flown , heck it had 800 miles on it, owner said it flew just fine... I didn't think it was that bad a job other than it was below zero out, then went to +40 when we got done, was good cause it was absolutely packed full of snow.. oh and when it got to Cold Bay on first leg, of course there was an faa guy in town, luckly I had all the i's dotted...

I LOVE fixing wrecks for ferry flights."gentlemen... duck tape, pop rivets, bailing wire and sticks are now excepted methods for this flight"

http://www.mcsrepair.com/kingcove.htm