Insuring newly purchased airplane

[MacFly]

I've made an offer on an 11 year old Experimental airplane and it was accepted. The usual due-diligence issues are completed or nearly so. Obviously I need transition training. I plan to use this plane for that transition training in order to learn to fly this type, as well as to satisfy the usual insurance requirements. My plan for a buddy to fly my CFI and me to pick it up, and picking up some dual instruction on the flight back. There are no such planes around here to get instruction.

How do I insure it? I have a few requests-for-quotes out there but they all are befuddled by the fact that I have no time in this specific aircraft or type. Obviously I want it insured from the moment the owner hands me keys but maybe that's not how it's done?

 

[MauleSkinner]

Normally the policy will become effective immediately, but they’ll require some form of checkout or instruction in the airplane.

if they’re “befuddled”, it’s because of a lack of communication. Are they also requiring your instructor to have some experience in that model, and he’s never seen one either?

 

[Kynadog]

Many insurance companies will write the policy with a proviso that the coverage does not apply to you flying solo until you receive the requisite number of hours of training in the plane.

 

[MacFly]

Thanks...I was hoping/assuming that it would be something like that, including coverage during dual instruction in the plane.

 

[rtk11]

My insurance company insured the aircraft and anyone with more than 10 hours on type (my CFI) and wouldn’t sure me in the aircraft after I was signed off for 5 hours transition training.

 

[Jeff767]

It would help if you included what type aircraft and if you have the appropriate endorsements. We need to know your instructors experience relative to the aircraft also. Does he have a LODA in that type?

 

[Huckster79]

I included my instructor as named on the policy of mine as he had hours in type..

 

[luvflyin]

I've made an offer on an 11 year old Experimental airplane and it was accepted. The usual due-diligence issues are completed or nearly so. Obviously I need transition training. I plan to use this plane for that transition training in order to learn to fly this type, as well as to satisfy the usual insurance requirements. My plan for a buddy to fly my CFI and me to pick it up, and picking up some dual instruction on the flight back. There are no such planes around here to get instruction.

How do I insure it? I have a few requests-for-quotes out there but they all are befuddled by the fact that I have no time in this specific aircraft or type. Obviously I want it insured from the moment the owner hands me keys but maybe that's not how it's done?

Are you looking for hull, liability or both?

 

[Lindberg]

How do I insure it? I have a few requests-for-quotes out there but they all are befuddled by the fact that I have no time in this specific aircraft or type. Obviously I want it insured from the moment the owner hands me keys but maybe that's not how it's done?

I bought an airplane I had zero time in. The policy said I needed x hours of dual instruction from a CFI qualified under the open pilot clause before I was covered solo. I was unsure of whether my CFI meet the requirements for time in type so I also had him named as a pilot. We flew to pick it up, he flew my plane home and I flew his. I think this should be pretty standard.

 

[Hang 4]

I was a student pilot when I bought my plane. I had just soloed in a 172. Insurance just wanted an instructor to give me transition training and sign off any solos. Think it was 5 hours before I was comfortable solo.

Insurance was a non-issue, as others have said, this should be easy.

 

[Ravioli]

It would help if you included what type aircraft and if you have the appropriate endorsements.

He's previously posted it's an RV-9A. So just PPL neeeded.

@MacFly -- Here's who you need to call:
Leah Ringeisen Light Aircraft Account Executive
direct: 877-520-6247 | fax: 636-532-3646
leah_ringeisen@ajg.com
www.ajg.com/lightaircraft | www.ajg.com

They will probably require a CFI that has time in nose wheel RV's. That's become a routine ask. It's something you should want, too.

 

[Lndwarrior]

Post this question on the vans air force forum. You'll get relevant answers by knowledgeable people with specific insurance company references. It takes just a few minutes to register on the web site.

 

[MauleSkinner]

Insurance agents (plural—maybe an individual would) don’t get “befuddled” over something this simple...but maybe a different one may have the words to explain it to the OP.

 

[MacFly]

He's previously posted it's an RV-9A. So just PPL neeeded.

@MacFly -- Here's who you need to call:
Leah Ringeisen Light Aircraft Account Executive
direct: 877-520-6247 | fax: 636-532-3646
leah_ringeisen@ajg.com
www.ajg.com/lightaircraft | www.ajg.com

They will probably require a CFI that has time in nose wheel RV's. That's become a routine ask. It's something you should want, too.

Thanks for the tip.

I do have other options for transition training if my CFI doesn't qualify with the insurance company (although he used to own an RV). It's about 2 hours by car to Tom Berge's hangar at KMIC, or about 3 hours in a 172 . That would pose some logistics problems but they're probably solvable. My first goal, assuming the sale goes through, is to get the plane in my hangar. The time that transition training may take might not be an issue depending on how my avionics plan goes. T-hangars are $160/month or $120/month depending on which of the two equidistant airports I decide on. They're both 10 miles away in opposite directions, but I favor the more expensive one because of the more robust infrastructure, my instrument CFI is there, and I know the A&Ps. Plus they have a kick-ass avionics shop. Not sure how the handoff will happen assuming that the log books check out...us flying there in my buddy's Mooney, or him flying here to deliver it....both options have been discussed.

I bought an airplane I had zero time in. The policy said I needed x hours of dual instruction from a CFI qualified under the open pilot clause before I was covered solo. I was unsure of whether my CFI meet the requirements for time in type so I also had him named as a pilot. We flew to pick it up, he flew my plane home and I flew his.

Yeah, something like that. Good idea since he wants to be able to borrow it now and then anyway.

 

[MacFly]

Post this question on the vans air force forum. You'll get relevant answers by knowledgeable people with specific insurance company references. It takes just a few minutes to register on the web site.

Yes. I'm a member. Good group. Very nice people.