Project Insurance Article

bmurrish · Post by **bmurrish** » Fri Feb 18, 2005 10:28 am

There is a good (short) article about insuring your project and home owner's insurance on the EAA website. http://www.eaa.org/communications/eaane ... rance.html

tshort · Post by **tshort** » Fri Feb 18, 2005 10:33 am

Do you guys have project insurance?

I don't, yet. I think when I get more invested to justify the cost I might consider it.

Post by **Spike** » Fri Feb 18, 2005 10:37 am

Not yet though I will be looking into it once I start getting more $$$ into it.

bmurrish · Post by **bmurrish** » Fri Feb 18, 2005 10:50 am

I know it is required if you finance parts of your project. I don't have it right now and probably won't if I can somehow manage to pay cash for everything.

svanarts · Post by **svanarts** » Sat Feb 19, 2005 8:34 am

Call me unscrupulous but I just asked my insurance company if my homeowner's policy covered the custom hot rod I was building in the garage. They said it should. Call me stupid but that was good enough for me. At any rate, one of my cars got stolen but the theives left my airplane and all the tools alone. Thank goodness we didn't have a fire or flood.

Post by **Spike** » Sat Feb 19, 2005 10:16 am

My understanding is that most homeowners poicies explicitly exempt aircraft parts from coverage. Might want to check.

bmurrish · Post by **bmurrish** » Sat Feb 19, 2005 10:21 am

Sorry to hear about your hot rod. I guess it is a good question to ask my insurance company. I just moved into the house and didn't think it was a good time to be telling them I was building an airplane in my basement. I figured it would freak them out and send my rates through the roof (wonder if that's coverered). I was also worried that they might come up with some crazy covenant and tell me my house wasn't zoned for it, so I kept that information to myself. I do have an awesome security system with door opening, glass breakage, and motion detection that is tied into the local police station. That said, I am not too worried about theft. Fire on the other hand would be a problem. I guess I will look into it as I get more money invested into the build.