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Rocket insuance

titanhank

Well Known Member
Hi guys, i bought a rocket and the insurance quotes are steep to say the least. 14000 hrs, atp, airline captain, 350tw, 300tt rv, 50tt rv3-4. No blips at all. From ladd gardner.

$4800 full coverage with $60k hull
$2400 liability and not in motion
$1800 just liability

What gives? Based on the previous threads, i was expecting much less. Mine is listed as an rv4/hrm rocket. Are you guys getting insurance based off the rv4 part?

This thing may get a 200hp 0-360 installed and called an “rv4”.

Thanks
 
I have always heard that insurance on Rockets is much more expensive than on RV’s - don’t have figures, but it Is something I have heard repeatedly over the years. Lots of cases of them going over on there nose on the ground, unfortunately.

You might find this Kitplanes video on the current state of the experimental insurance industry interesting - it gives some idea of what influences your rates, and how you can influence them to your favor.

https://youtu.be/cVNqmE33NTU

Paul
 
Others can offer more insight, but I believe the Harmon Rockets had higher noseover rates than the RV’s, so the insurance rates are higher. The F1 Rocket corrected the issue, but got lumped in due to its name and similarity.

Also, apparently a part of insurance rates is replacement cost. So 10,000 RV’s flying lower rates compared to the lower number of Rockets.
 
Just got insurance on my Rocket a couple of days ago after a year off and I'm paying $600 for liability. 350 Time in type, 1000 TW, 1200 TT, no instrument rating.

Agency is Crest, underwriter is Tokio Marine - one of the few that still insures Rockets.
 
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When I was searching for an RV8, I stumbled across a rocket and I checked insurance rates. Ladd told me that it's about 3 times an RV8. In my case it was spot on. I ended up buying an 8 so didn't investigate further.
 
In my search for an airplane, it started with a Glasair III taildragger with an IO-720.

28,000 TT, 650 TW (T-6, P-51, B-17, Citabrias, Stearmans, etc.), no accidents, DUIs, etc...

$6,000/yr.

Lancair Legacy (200 Lancair time)

$6,000/yr

Harmon Rocket

$6,000/yr.

RV-8, $150K hull, $1M, $100,00...

$1,900/yr to start. Will go down at year two.

Reasons given are number of claims on those types in recent history.

Think that's bad - try insuring a Super Decathlon for instruction! LOL


So, yeah, this is why we can't have nice things.
 
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Just got insurance on my Rocket a couple of days ago after a year off and I'm paying $600 for liability. 350 Time in type, 1000 TW, 1200 TT, no instrument rating.

Agency is Crest, underwriter is Tokio Marine - one of the few that still insures Rockets.

Thanks. Do you have contact info for crest?
 
I found on the F1 Rocket at least the insurance was not as bad as I hoped. I pay 3400 a year on 140,000 in Hull value. A RV8 with that hull value would have been around 2000.
 
Tammy Orth | Agent | Ladd Gardner Aviation Insurance Agency, Inc.
PO Box 183 | Addison, TX 75001
Office: 972.250.0400 | Fax: 972.250.0401 | Cell: 972.809.9107

The owner of the company has a F1 Rocket.
G
 
I worked with Scott "Sky" Smith and have had USAIG coverage for about 4 years on my 2015 F1 Rocket. Falcon wanted $3280 in 2016. The following is a couple of years old, but shows the quotes from several companies obtained by Sky Smith:
Aerospace (AIM): Declined to quote - 11/5/2018

Global Aerospace: Declined - Plane - 11/1/2018

Starr Aviation: $3,231 -

USAIG: $2,195 Renewal Company -

So, in essence, I've really only been able to use USAIG. This year the premium was $2285 for $1M/$100K with $140K hull value.

I have COMML ASMEL CFI CFII IA with about 4800 hrs TT & 970 TW.
 
I found on the F1 Rocket at least the insurance was not as bad as I hoped. I pay 3400 a year on 140,000 in Hull value. A RV8 with that hull value would have been around 2000.

My $130,000 RV cost $1250 to insure, which would match with the 3xRV figure someone posted earlier.
 
Mine was 5600 since I was new to the Rocket at 180K hull value. Hopefully it will go down after building time in it. Also with Ladd
 
Wow. That's outrageous. Which company? I think I'd do some shopping. Mine hasn't gone down any Ofer 4 years.
 
The first place I tried to get a quote from on a rocket I was given a no quote on so at least you did get some quotes. I ended up doing liability only as all the rates are getting stupid priced. I think it was 800 bucks and that was a month ago.

I'm lower tailwheel time then you but ATP blah blah blah
 
I will shop around this year. I had 100 hrs in an RV 7 and 1200 in my Husky all tailwheel time with no claims. I heard 50% of Harmon Rockets have experienced prop strikes. I know of one that had two and one was just on run up. F1's are not as bad due to design.
 
Mark Frederick is making an F1 Indy mount for the HR2s. This is a very nice upgrade to the stock HR2 gear legs and to the gear leg geometry.

The new mount is roughly $2500 and the required F1 titanium gear legs are another $3500 so it's not cheap, but it's still a heckuva lot cheaper than a prop strike!!!
 
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