Homebuilt Experimental Aircraft
This is a special category as these aircraft are under construction for a number of years, being put together by one or more builders/owners. During this time the chance that damage occurs due to human error (dropped tools) is larger than when the aircraft is completed and sits comfortably in a hanger.
For this and other risks as theft or fire you will need a special aircraft builders insurance. Insurance companies should have these products.
Insurance Tips
If you are building experimental aircraft for a living (manufacturing) then you will need a different type of policy as this is a commercial enterprise and the risks are totally different.
Aircraft construction can require special tooling and or jigs, some of these can be expensive. Tools can be insured as long as you can show a proof of purchase, so save all those receipts!
An important thing to remember is that the value of the kit will increase during construction. Items are constantly being added, avionics, strobe lights, engine and propeller. Before the annual policy renewal, its wise to reevaluate the actual value and have your policy amended.
Transport
During transport from the aircraft manufacturer, the kit should be insured separately. Talk to the manufacturer or shipper about their conditions and possibilities. This is normally not part of the builders insurance.
If you install a totally different engine (firewall forward package) than the kit manufacturer recommends (after all it is an experimental) then some companies will insure it only after a certain amount of flight time is obtained.
Flying Status
Make sure that you inform the insurance company when you are ready for taxi and the first flight, as this is usually not part of a builders insurance. Any qualified pilot whom is going to fly the aircraft must also be named on the policy (approved pilot status), CFI's might have their own insurance policies.
Basically any pilot can fly the aircraft as long as one of the named pilots accompany them.
Normally there would be no policy against landing on grass runways as long the airport is approved by the aviation authorities.
