Non-flying aircraft insurance

[jbrinker]

Hi all,

I'm finally in possession of my biplane. This plane was my grandfathers (Built by him in the 80's) and although its not in bad shape, it needs enough work that it will definitely not be flying until probably late next summer at the earliest.

I have it in a hangar at a local small airport. I will be doing the work over the winter and into the summer. However in that time I'd like to have some basic coverage on it - in the sense that if the hangar collapses over the winter, or burns down from some guy's plane catching on fire I'd have some coverage.

No one seems to want to write a policy for this without the liability portion, which is the expensive portion, and not needed because I do not intend to fly it at all. Basically it's a project at this point.

Any ideas how to approach this with an insurance carrier, and/or who to call? Anyone else have insurance on their project when it was still clearly just a project?

Thanks
Jeff

 

[ChiefPilot]

What you seek is essentially "builders insurance". Hit up EAA and see what they have; I remember it being pretty reasonable when I was building my RV. Alternatively, have you inquired specifically about "not in motion" coverage?

 

[aftCG]

If you're at a public airport I'm surprised you aren't being directed at what type of policy to purchase.

It was required when I signed my lease, for the reasons you state: hangar collapse, fire, etc

 

[jbrinker]

Its a private airport, and they don't require anything (nor do they cover any of my stuff under any of theirs). I did just come across builders insurance, going to check that out and see if this would qualify. Not in motion coverage is what I was quoted - and it requires the "liability" portion which is 2x the cost of the actual damage coverage. Even if the plane is disassembled!

 

[Stewartb]

My project is insured as a project by Avemco.

 

[weilke]

There is also 'not in motion' coverage. Usually people get that if they are out of country for a couple of months, not sure you can get it as a stand alone product. If you are working on the plane, make sure your risk of burning down a row of hangars is somehow covered. A friend of mine lost a Grumman when someone lit off his Stearman project one hangar box over.

 

[jbrinker]

Hmm. Maybe that's why they still require the liability portion. Didn't think of that...

 

[ChiefPilot]

A friend of mine lost a Grumman when someone lit off his Stearman project one hangar box over.

I remember a similar (maybe same) incident at KSGS involving both a Grumman and a blazing Stearman, but it was a T-hangar; the Stearman was being refueled inside the T-hangar with no static/grounding wire. Ugh. The moral here is "don't be stupid"

 

[weilke]

I remember a similar (maybe same) incident at KSGS involving both a Grumman and a blazing Stearman, but it was a T-hangar; the Stearman was being refueled inside the T-hangar with no static/grounding wire. Ugh. The moral here is "don't be stupid"

Same incident.

The point being that even a plane parked in a hangar represents a small liability risk. Sure, 'dont do nothing stupid' always applies, we carry insurance for the times we forget.