Image source: Vansaircraft.com
Van’s RV Aircraft Insurance Guide
Flying an aircraft, especially one you built yourself, is incomparable to any feeling. However, its insurance is typically forgotten amid the labor of building or flying the aircraft. But if you’re faced with a pricey mishap, having the peace of mind in knowing that your insurance policy will make you whole again, could be priceless.
Here’s a complete guide to Van’s RV aircraft insurance and the appropriate insurance plans from BWI Aviation Insurance for your aircraft.
Van’s RV Aircraft
Van’s Aircraft is an American kit aircraft manufacturer company that Richard “Van” VanGrunsven founded in 1973. The company is known for its RV Aircraft series, including a range of popular homebuilt aircraft.
The first aircraft in the series, RV-1, was created in 1965. Before its release, VanGrunsven modified its Stots SA-3 Playboy with a 125hp Lycoming engine while changing the wings, cowling, and fuselage.
Next came the RV-2 prototype, which was a sailplane, but the RV Aircraft series wasn’t available for sale until the creation of RV-3. RV-3 was a single-seat aircraft known for its climb rate. In contrast, the RV-4 had room for a passenger, serving as a two-seat tandem alternative to the RV-3.
Again, the RV-5 returned to the single-seat structure while the RV-6 featured two-seat side by side. Finally, the RV-7, RV-8, and RV-9 were better versions of the previous models. RV-10, created in 2003, was commended for its excellent performance and ability to carry four adults with 60 lbs of baggage.
RV-11 is still developing, but RV-12 and RV-14 are up for sale, the former being the company’s first Light-Sport Aircraft featuring removable wings. The former was created in 2012, with a quicker build time and 193mph cruise speed.
Van’s RV Aircraft Insurance
Purchasing insurance for a home-built, light sport and experimental aircraft is a bit different than purchasing insurance for any other aircraft type. Aviation Insurance companies will want to know when the aircraft was built, is it hangered or tied, pilot experience in the aircraft or similar aircraft, etc.
The premium also depends largely on the make and model of the aircraft, hull value, use of the aircraft, pilot history, and qualifications.
The company breaks down Van’s RV aircraft insurance into two coverages: Liability Coverage and Optional Hull Coverage. All aircraft insurance policies include Liability Coverage, while the Optional Hull Coverage is less common, covering physical damage to the aircraft itself.
BWI Aviation Insurance offers coverage for all Vans RV aircraft models including Liability coverage, which covers your legal liability as an aircraft owner for damage that occurred “outside of the aircraft.” Specifically this includes bodily injury or property damage that was caused as a result of the operation of your aircraft.
Insurance companies typically offer Van’s RV aircraft insurance policies that include total liability coverage of $1,000,000 per incident, and included within the $1,000,000 total liability is coverage for passengers, with a limit of $100,000 per passenger.
Risks of Flying Van’s RV Aircraft
About 85% of RV-12s are registered as Light Sport instead of Experimental/Amateur-Built. From 1998 to 2017, there have been 500 RV aircraft accidents in the US, which isn’t a lot, but it’s a big enough number to raise awareness and consider the peace of mind that a solid aircraft insurance policy affords.
On average, 39% of the overall homebuilt fleet experience accidents due to pilot miscontrol, the RV-7 aircraft experiences at least 41% of such accidents. Other causes for RV aircraft accidents include builder error, maintenance error, midair collision, fuel system, landing gear, VFR to IFR, carb ice, and maneuvering at low alt.
Why Shop for Vans RV Aircraft Insurance at BWI Aviation Insurance Agency?
Aircraft insurance can be a sticky topic, particularly when deciding how much coverage fits your bill. Before settling on a best-fit figure, you must select the appropriate aircraft coverage type, factor in your flight hours, aircraft type, and passenger load. This is hectic even when you have time.
At BWI, we understand the complexity of shopping for aircraft insurance, which is why we simplify and streamline the entire process for our customers. When your trust us to provide you with aircraft insurance, you’ll get low rates, fast quotes, and coverage you can always count on.
Call 800.666.4359 today for a free Airplane Insurance Quote or Click Here to submit a quote request online.
BWI is the Nation’s Leader in Aviation Insurance, with offices based in Corona, CA and Anchorage, AK.
Research shows that the RV-7 struggles with maintenance and VFR to IFR issues. However, builder error, landing gear, and maneuvering at low alt cause RV-7 accidents.
Considering these statistics, it’s important to make sure that you obtain a comprehensive aircraft insurance policy. BWI offers policies for both student pilots and private pilots and above in the Vans RV Aircraft make and model.
Request a Van’s RV Aircraft Insurance Quote Today!
There’s no thrill like the adrenaline rush of flying a Van’s RV aircraft, but safety comes first. Protect yourself and your aircraft with BWI Aviation Insurance’s Liability Coverage and Optional Hull Coverage policies. Request a Van’s RV aircraft insurance quote today to ensure your aircraft is covered!