I tried to renew my builder’s insurance this week. My broker at Falcon Agency told me Global Insurance is no longer underwriting Legacys because of the high loss rate. Not even for a not-in-motion policy. Global did offer to renew my policy one last time but there would be no renewals after that. As before the price would be $1 per $100 of insured value, or $1400 for $140,000 of coverage.

She was able to get me another quote from Chartis Aerospace (formerly AIG Aviation). But that was a little over $2000 because they require that all policies include a minimum of $500,000 liability coverage. Liability for a not-in-motion policy? Yeah, whatever. So I went with Global again. I expect to take my plane over to the paint shop this spring so this should be my last builder’s policy!

-Adam Molny