I know this is a
yucky subject, but it seems this issue just won’t go away, and actually seems
to be getting worse. I was curious what the other rotary builders are
doing for insurance. Seems there are new rules at AIG concerning
Lancairs. I was curious to hear if AIG has implemented similar rules for
the RV’s and other experimental a/c. They now won’t insure a Lancair without
an “approved Lancair inspection”, although there isn’t an “approved” Lancair
inspector list available. The item that really bothers me is #2 below
which states “no
auto engines, no radically
modified aircraft engines, etc.”
I may have to build
my own airstrip so I’ll have a place to keep my plane.
Mark
S.
(ref. posting from
the LML list below)
From:
Lancair Mailing List
[mailto:lml@lancaironline.net] On Behalf Of
N301ES
Sent:
Wednesday, September 28, 2005 10:01 PM
To: Lancair
Mailing List
Subject: [LML] Re:
Insurance
Not a bad quote Jeff but I got a quote before Lancair
got too involved:
$300k hull, $1 million liability, 10 hr
instruction and 20 hr solo - for $4,915.
After Lancair got into
it hot and heavy about 6 months ago the same coverage jumped to $5,758 and had
added the restriction of paying for a factory inspection.
Now the
new restrictions from Lancair (listed in their e-mail today) include if:
1) building your kit with us or if building at home, having a Lancair approved inspector look over your work;
2) using only Lancair approved and/or certified parts in the construction of your kit (no auto engines, no radically modified aircraft engines, etc.);
3) Having a Lancair approved ABDAR inspect and issue an airworthiness certificate (the reason for which is that we believe an individual who has extensive Lancair experience will be better able to detect deficiencies in the builder's work);
4) Attending our training program provided by Pete Zaccagnino;
5) Having the first condition inspection performed by Lancair or one of its approved builders.
I had already planned to continue my training with
Pete for the 10+ hours needed to learn the plane, so that is for me a
non-issue. But where is Lancair's list of approved initial inspectors,
of approved DARs, of approved builders, and of approved parts?
I've been looking and I have only a few months left to get them lined
up. What if I or other builders have constructed their planes using
parts not approved by Lancair? (Perhaps if you bought it from Spruce, it ain't
approved?) Might not be a major issue at the end but it sure is a
concern now.
My question is - if Lancair has negotiated a
better program with AIG, how much will I save by abiding by the new
restrictions? So far it looks like I'll be paying more.
Robert M. Simon, ES-P N301ES
VTAILJEFF@aol.com wrote:
If I get
recurrent training from an approved instructor and a one time inspection of my
aircraft from Lancair then my premium is $6,086 for
$300k hull and $1 mil/ $100k seat. This is less than half of what
Global is charging. They will go higher on hull if I substantiate it with an
equipment list. AIG is the underwriter. I just got a quote for hull &
liability insurance on my IVP. Falcon quoted $13,675 for $400k hull and $1
mil/$100K seat liability. Global is the underwriter. I have been with them
these last few years with similar premiums.
<>
Thanks Joe
Bartels and all involved in making this
happen.