RobertGary1 Posted December 18, 2021 Author Report Posted December 18, 2021 Ok it looks like there was a typo. The $1400 hull premium I paid was for $75,000. Each $10k adds $188 to the premium. Does that sound right? Maybe go with 95K? Also if I had to replace the plane I’d have to pay the state 10% sales/use tax. @Parker_Woodruff?
philiplane Posted December 18, 2021 Report Posted December 18, 2021 insure for enough to pay to repair for a gear up, and also to replace it if a hangar collapses on it, or a someone drives a truck into it on the ramp.
LANCECASPER Posted December 18, 2021 Report Posted December 18, 2021 I have no idea if this applies to airplanes, but in most states if your car is totaled there is a process to recover the sales tax if you are replacing the car.
RobertGary1 Posted December 18, 2021 Author Report Posted December 18, 2021 1 hour ago, LANCECASPER said: I have no idea if this applies to airplanes, but in most states if your car is totaled there is a process to recover the sales tax if you are replacing the car. When you buy a car in California you have that but you have to pay for it. I think they call it gap insurance.
LANCECASPER Posted December 18, 2021 Report Posted December 18, 2021 1 minute ago, RobertGary1 said: When you buy a car in California you have that but you have to pay for it. I think they call it gap insurance. Gap insurance is in case you owe more than what it's worth when it's totaled. The insurance covers the gap.
N9405V Posted December 18, 2021 Report Posted December 18, 2021 I just did this for my E. I went from $65k hull to $90k hull and it was about $250/year increase. The underwriter didn’t ask for any information. Sent from my iPhone using Tapatalk
Parker_Woodruff Posted December 18, 2021 Report Posted December 18, 2021 17 hours ago, LANCECASPER said: I have no idea if this applies to airplanes, but in most states if your car is totaled there is a process to recover the sales tax if you are replacing the car. Not for airplanes. Agreed value is agreed value. Some policies offer to automatically increase the value up to a certain percentage if the quarter-over-quarter Blue Book value is higher than the previous quarter. A lot of owners build sales tax into the agreed value.
Parker_Woodruff Posted December 18, 2021 Report Posted December 18, 2021 17 hours ago, RobertGary1 said: Ok it looks like there was a typo. The $1400 hull premium I paid was for $75,000. Each $10k adds $188 to the premium. Does that sound right? Maybe go with 95K? Also if I had to replace the plane I’d have to pay the state 10% sales/use tax. @Parker_Woodruff? Depending on the carrier, you might find an interesting number at $95K compared to $100K. 1
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