I'm in the market for an LSA Cub, likely Legend and did some insurance cost research today. I contacted Avemco and Falcon. So far I only have details from Avemco which I will share, I'd be curious what Legend and SportCub owners are paying.
Background- 1000+ hrs, IFR, SES, current Medical and Biennial. Very little tail-dragger and float time, 10 and 20 respectively.
Scenario- Three months on floats, 4 months on wheels (hangared), 5 months stored (hangar) for the winter (Buffalo, NY). Anybody want a winter Cub?
Assumptions- Legend =$105k, floats=$16k. Million limit, 100k/seat, 500 deductable, full hull.
The following are annualized rates:
On wheels $2819
Stored $1160
On Floats $10,500
Using the above detailed usage I would pay 4047/year.
As we all know building time makes a big difference. At 50 hrs float insurance drops to 8745 from 10,500, at 100 hrs it drops to 5548. Rates on wheels drop 7% for every 25 hr increment from 25->100.
LSA vs. certified? A SuperCub worth the same 105K would cost 2236 on wheels vs. 2819 for the Legend.
Increase deductable from 500 to 10,000 saves only 390, not many under 10k accidents.
When I build time to 100hrs on both floats and wheels I will be paying around 2500/yr rather than 4047.
A side note- Building the kit version (E-LSA) of the Legend and assuming the same value (unlikely) will cost 6377/yr on wheels rather than 2819 for S-LSA, they won't insure E-LSA on floats. Guess they don't like experimentals.
Comments? Your own experiences?
Thanks,
Carl
Background- 1000+ hrs, IFR, SES, current Medical and Biennial. Very little tail-dragger and float time, 10 and 20 respectively.
Scenario- Three months on floats, 4 months on wheels (hangared), 5 months stored (hangar) for the winter (Buffalo, NY). Anybody want a winter Cub?
Assumptions- Legend =$105k, floats=$16k. Million limit, 100k/seat, 500 deductable, full hull.
The following are annualized rates:
On wheels $2819
Stored $1160
On Floats $10,500
Using the above detailed usage I would pay 4047/year.
As we all know building time makes a big difference. At 50 hrs float insurance drops to 8745 from 10,500, at 100 hrs it drops to 5548. Rates on wheels drop 7% for every 25 hr increment from 25->100.
LSA vs. certified? A SuperCub worth the same 105K would cost 2236 on wheels vs. 2819 for the Legend.
Increase deductable from 500 to 10,000 saves only 390, not many under 10k accidents.
When I build time to 100hrs on both floats and wheels I will be paying around 2500/yr rather than 4047.
A side note- Building the kit version (E-LSA) of the Legend and assuming the same value (unlikely) will cost 6377/yr on wheels rather than 2819 for S-LSA, they won't insure E-LSA on floats. Guess they don't like experimentals.
Comments? Your own experiences?
Thanks,
Carl
