Mark,
Strictly my opinion, but the way I see it is you have three choices:
1. Build now.
2. Build later after the dust has settled a bit.
3. Never build.
After building four airplanes I've learned that it's almost impossible to justify building one. Most folks just do it. Or not.
Tony
Insurance
Forum rules
A forum for Panther aircraft builders and Enthusiasts. Two simple rules: Play nice and use a real name
A forum for Panther aircraft builders and Enthusiasts. Two simple rules: Play nice and use a real name
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Tony Spicer
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CAVU Mark
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Re: Insurance
Jenny replied yesterday:
"Right now there is only 1 company, US Specialty Insurance Company, that is
writing this aircraft and they will not cover the plane for in-flight
coverage until the hours are flown off. They gave me an indication of $650
for Ground coverage and flying liability at $1,000,000 while the hours are
being flown off and then once the hours are flown off they can add flight
coverage and the new annual premium would be $2,000."
The premium seems high... any suggestions from others is appreciated. I do believe they are insuring the plane for $30k. I know many people do not have any more insurance than liability but I hate to be out my investment.
Mark
"Right now there is only 1 company, US Specialty Insurance Company, that is
writing this aircraft and they will not cover the plane for in-flight
coverage until the hours are flown off. They gave me an indication of $650
for Ground coverage and flying liability at $1,000,000 while the hours are
being flown off and then once the hours are flown off they can add flight
coverage and the new annual premium would be $2,000."
The premium seems high... any suggestions from others is appreciated. I do believe they are insuring the plane for $30k. I know many people do not have any more insurance than liability but I hate to be out my investment.
Mark
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CAVU Mark
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Re: Insurance
Thanks for the input. I have a call into the company but they are busy celebrating their anniversary. Good for them.
Mark
Mark
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Tony Spicer
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Re: Insurance
Mark,
My guess is that it won't be an issue. Back in 2000 I was faced with getting insurance on the first customer-built Sonex. The hoops they had me jump thru were minor, and I had no problem getting full coverage. I used Jenny for years for the insurance on my RV-3 and RV-4. The fact that she was able to find an underwriter that was willing to write a policy on the prototype Panther speaks highly of her skills as an agent. It's going to do nothing but help when she sends the underwriters copies of the Paul Dye Panther article that's slated to appear in Kitplanes. Underwriters may be bean counters, but many of them are pilots as well.
For those that are low time pilots with little to no tailwheel time, the hill may be a bit steeper to climb.
Tony
My guess is that it won't be an issue. Back in 2000 I was faced with getting insurance on the first customer-built Sonex. The hoops they had me jump thru were minor, and I had no problem getting full coverage. I used Jenny for years for the insurance on my RV-3 and RV-4. The fact that she was able to find an underwriter that was willing to write a policy on the prototype Panther speaks highly of her skills as an agent. It's going to do nothing but help when she sends the underwriters copies of the Paul Dye Panther article that's slated to appear in Kitplanes. Underwriters may be bean counters, but many of them are pilots as well.
For those that are low time pilots with little to no tailwheel time, the hill may be a bit steeper to climb.
Tony
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rlweseman
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Re: Insurance
Hi Mark -
We have the prototype insured with NationAir Aviation Insurance. Call Jenny Estes @ 877-648-8267 or jestes@nationair.com
They insure Team AeroDynamix and come highly recommended. Our cost for the prototype for full coverage (full ground and flight) was very reasonable, under $1500 per year. They have been great to work with. Their website is lightaircraft.nationair.com
We have the prototype insured with NationAir Aviation Insurance. Call Jenny Estes @ 877-648-8267 or jestes@nationair.com
They insure Team AeroDynamix and come highly recommended. Our cost for the prototype for full coverage (full ground and flight) was very reasonable, under $1500 per year. They have been great to work with. Their website is lightaircraft.nationair.com
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CAVU Mark
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Insurance
One unpopular but necessary topic is insurance. I called EAA today for a quote on insurance for a Panther LSA and since there is little history with the aircraft EAA was unable to offer a firm quote, they offered an estimate of $2000/yr. but need to submit the application to an underwriter and see who bites. They did quote me a price on an RV-3 of $1160 yr.
I have over the 200hr total time and 50 hours of tail wheel which I was told was a minimum and I have no obvious "red flags".
How are new designs insured, affordably?
Mark
I have over the 200hr total time and 50 hours of tail wheel which I was told was a minimum and I have no obvious "red flags".
How are new designs insured, affordably?
Mark