Lancair announced that full hull coverage for Lancair IV, IV-P and PropJet owners is now available through AIG Insurance for pilots who meet a number of criteria. Liability is limited to $1 million per occurrence and $100K per passenger. Full flight and ground coverage is available up to a maximum of $500K insured value.
The program became effective in early June, and rates are available through local AIG agents. To be eligible, you must meet the following requirements:
- The aircraft must be inspected and approved by a Lancair factory representative or the aircraft must have been completed through Lancairs builder assist program.
- The pilot must hold a private ASEL license with an IFR rating; in addition, 1000 hours total time, 250 hours of retractable-gear time are required. The pilot must be between age 25-65, and have no losses, waivers or violations in the past five years.
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