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RV value?

Iluke

Well Known Member
I'm trying to figure out what my soon to fly RV-7 is worth for insurance purposes. What's the best way to track sales or at least asking prices of RVs? I don't see many listed on Trade-a-plane or Aero Trader. Is this forum where most get sold?

Or if any of you are particularly savvy, what's a ballpark figure for a low time RV-7, factory IO-360, fixed pitch, Dynon single screen VFR panel, nice paint job?

Thanks
-Ivan
 
A good place to start would be at least the combined cost of the build not including your labor. What is your labor worth? Probably depends on how much fun you had building the -7. Advertised prices on VAF & Barnstormers are a probably the best indication of the current market trends.
 
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RV-7

Ivan,

Post some pictures of your paint job, engine, interior and panel. It’s a pretty wide range but a lot depends on your setup. Offhand it could be anywhere from $85K to $130K
 
I'm trying to figure out what my soon to fly RV-7 is worth for insurance purposes.

I am sure many opinions out there but mine is simple. Either you will rebuild, therefore list the cost of purchasing parts, or you don’t want to build again, therefore list insured value as price to buy an already flying RV-7. Just remember the higher you insure for the higher your insurance premiums. I will build again therefore enjoy the fact that my premiums are low.
 
I am sure many opinions out there but mine is simple. Either you will rebuild, therefore list the cost of purchasing parts, or you don’t want to build again, therefore list insured value as price to buy an already flying RV-7. Just remember the higher you insure for the higher your insurance premiums. I will build again therefore enjoy the fact that my premiums are low.

Be careful with underinsuring though; it could lead to the insurance company totaling the plane for a relatively minor incident. You’ll need to balance the insured value with what you want to pay.

The inverse of this is also true - if you pay to over insure it the company may insist on having it rebuilt even if you really ball it up.
 
Be careful with underinsuring though; it could lead to the insurance company totaling the plane for a relatively minor incident. You’ll need to balance the insured value with what you want to pay.

The inverse of this is also true - if you pay to over insure it the company may insist on having it rebuilt even if you really ball it up.

And read the policy carefully...that cut-off point at which they can choose to total it is, at least for my policy, *70%* of the hull value, NOT the full hull value. As a consequence, I increased hull value to compensate, even though it cost me a bit more each year.
 
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