UK insurance?

[mdavenport]

I'm working my way towards a single seat trainer, maybe in the form of a jetmax or simworld MIP.

Ive already got 2 x PCs, screens, yoke, CDU, MCP EFIS.

My sim is located in my attic. Boarded out a bit.

Once Ive spent on the SST I will have clocked up quite a few £££'s of investment.

What do people do with regards to insurance?

Do you have it?  Do you have to have it?

I assume you have it on your home insurance?

If so when you call to have it added what do you tell them you have as I imagine they will look at me gone out when if say I have a Boeing 737 single seat trainer in my loft.




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[jackpilot]

Just bring a few pictures and an itemized list of components with amounts (+invoices if you have tem) and have it specified in your home contract.

[mdavenport]

Do you mean provide the pictures to the insurance company?

What do people consider a reasonable cost to insure it all is?


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[jackpilot]

yes, a picture is always a good idea in case of destruction or theft.
If you have spent 0,5 zillion insure it for 0,5 zillion

[mdavenport]

my whole setup when finished would be 10-12k to be covered, so wonder what the annual premium would be.


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[mickc]

I recently added $75K AUD cover for sim equipment to my home contents insurance, it only added $9 a month to the premiums.
Also, none of the components had to be specified unless they were over $10,000 for a single item.

This also includes accidental damage cover.

[bernard S]

interesting topic for sure.. my approch to insurance is i want to be put back in the position i was in prior to my loss... thus it was easier to do this under an LLC...I had the insurance company send a subject matter expert etc etc

yes my quarterly payment hurts a little ..but lets assume i had s total write off do i really wantbto spend years sourcing parts and what about the time how do you qualify that?... In short you get what you pay for .

[mdavenport]

Im just revisiting this thread as ive now purchased my MIP and want to get it added to my house insurance.

When you list and itemise the components what are you saying they are?  Are you saying they are Flight simulator gaming device trainer MIP, Pedestal, PC's etc?  I think if I simple tell them what it is then they wont't have a clue what I am on about?

Also, do you have to tell them how its setup and wired incase its a fire risk itself with it being electronics?

[jackpilot]

Just add up a value backed by invoices and pictures and insure it  as a flight simulator, part of your household ...no brainer.

[Joe Lavery]

Most UK insurers don't need items specified if they're under £1000.00 value. So I would think that most of us builders would be okay. However if you bought a complete setup in one lump, (so to speak) that would of curse be over the limit for insurance.
For myself I don't have my PIT  insured separately, as it's a collection of computers, monitors, interface boards held together with lots of wood and MDF. 

There isn't a single component that cost over the limit, but of course collectively there is a lot more. From my inquires it's only collections of things like coins, or stamps that would be regarded as a collection that would need to be insured separately, or specified on your normal household insurance.

However it might be prudent to ask the question of your own insurance company, different companies can interpret the conditions differently.
Joe.

[bernard S]

my suggestion    ..considering not only the money side but time effort and engry required to complete such a beast.... lets assume you do add up rhe invouces etc and it comes to X bow let's assume that you have a total loss what percentage of your efforts are going to be depricated and you out of pocket   right   and prolly never do it over .... heres what to so... get your insurance company to insure it on an agreed value basis   if your broker says it does not work rhat way find one that does    hence you you have total loss you can always revert to an FDS turnkey unit ... the purpose of insurance is to put you in the position you were at ..at the time loss ..

[jackpilot]

Agreed
I did it that way and it worked out nicely with the insurer.