- Joined
- Oct 31, 1996
- Posts
- 707
- Type aircraft owned
- Carbon Cub FX-3
- Base airport
- KFCI
- Ratings
- COMM, IFR, MEL, SEL
Or should I ask, what hull value are YOU insuring your aircraft at?
The dilemma is we buy an aircraft, for example mine is a 2021 but the costs of these aircraft have gone up significantly. Yaye, it's an appreciable asset, whodathunk? However, if your aircraft is totaled the cost to replace is now out of whack as aircraft insurance is typically "agreed value." So if you paid X for your airplane and the cost for a new one is now 1.5X what hull value should you be insuring for?
I'm currently insuring for what I'm guessing is 100K below replacement cost. What I don't know is what the premiums would be if I insured for replacement cost. Something to get quotes on at renewal and try to determine the proper hull value to insurance cost ratio.
What are your opinions and how did you decide on a hull value for insurance?
The dilemma is we buy an aircraft, for example mine is a 2021 but the costs of these aircraft have gone up significantly. Yaye, it's an appreciable asset, whodathunk? However, if your aircraft is totaled the cost to replace is now out of whack as aircraft insurance is typically "agreed value." So if you paid X for your airplane and the cost for a new one is now 1.5X what hull value should you be insuring for?
I'm currently insuring for what I'm guessing is 100K below replacement cost. What I don't know is what the premiums would be if I insured for replacement cost. Something to get quotes on at renewal and try to determine the proper hull value to insurance cost ratio.
What are your opinions and how did you decide on a hull value for insurance?
