Insurance for airplanes
 

I just had a conversation with my insurance agent about the coverage
I have on the planes in my basement and there is only $2,500 worth of coverage
for hobby related things if my house burns down. They say I would need to have
an appraiser come out to appraise my planes and equipment to get a special rider
put on my homeowners policy.

This seems like such a pain to get insurance coverage. Not sure how much I have
invested in my basement in RC planes but I am sure its over $2,500.

Any suggestions?

RE: Insurance for airplanes
 

Check what the "personal property" limits are. It should be a lot higher and does cover your stuff.

RE: Insurance for airplanes
 

Mine covers up to $150,000 in contents. Doesn't specify hobby. The only problem is I have a lot of duplicate kits, and many are not replaceable. That would create a problem.

RE: Insurance for airplanes
 

Y'all need to read your policy CLOSELY. I'm not saying you don't have unlimited hobby coverage, up to the content coverage, but most policies do have limits such as the OP wrote about. You may have $150,000 for contents, but the odds are good that you will find limitations on things like jewelery, stamp or coin collections, etc.

RE: Insurance for airplanes
 

They have to specifically exclude. I know of no policy that specifically excludes RC airplanes. That being said, it's a one time deal, expect to see it excluded from future policies. The insurance companies are not dumb to this stuff. I know, as I had a $6k airplane claim two summers ago, and I am not covered now.

RE: Insurance for airplanes
 

Kinda like my flood coverage that was required by the bank. I live on top of the mountain. If I get flooded, the rest of the town is toast.
[X(]

RE: Insurance for airplanes
 

Guess the bank is worried they're going to trash your house trying to get away from the water. :D

RE: Insurance for airplanes
 

If your agent doubts your coverage then so should you. Or - it won't matter if you don't have a fire - take your choice - get a rider or take your chances - the few dollars it would cost to add a rider might be the best hobby dollars you ever spent.

RE: Insurance for airplanes
 

In 1994, I came home late from our club's annual public flying demonstration, and figured I'd empty my car out the next morning. Apparently, left one door unlocked. Next morning, car was almost empty.
Checked with my homeowners, wasn't given a lot of hope. Also called AMA, was told that if I had a police report showing B&E, document my losses and send the documentation in with a copy or the police report, but to check with my auto insurance first.
Took a copy of the report and documentation to my auto insurance agent. The documentation consisted of pictures of the planes, a list of the transmitters with serial numbers, Engines, and some flightline tools and equipment, and copies of latest catalog pages showing the replacement prices. Also statements that some of the missing merchandise was either no longer available, or scratch built, and had prices of materials or of equivalent kits.
Claim was for $2600. Was told that the company's normal procedure was to provide an initial partial payment, then to make further payments on receipt of proof of replacement costs until the claim amount minus the deductable was paid out, but since I had detailed documentation, was asked to come back in about 2 hours. I did, and was handed a check for $2350. Having good documentation with photos matching catalog pages simplified things for them, so they simplified things for me. Also, at that time, some homeowner's companies were starting to blacklist people for submitting claims. I have heard on the Clark Howard program that nowadays, some companies may cut you out for even making an inquiry that hints you might be putting in a claim. Or at least recalculating your premiums.

RE: Insurance for airplanes
 

What do you think our chances are in Florida, La, and Miss ?? H--- some of us can't even get good insurance for the house let alone our hobby. ENJOY !!! RED



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