ryoder Posted December 15, 2014 Report Share Posted December 15, 2014 So now I have 50 hours in my complex M20C. Do I get a cookie or something? Do I get a discount on my insurance next year? I had only about 72 hours total time when I bought the airplane and required 10 dual and 5 solo prior to flying. I am now at 125 and am on track for 170 by my anniversary date of the insurance policy. I MIGHT have an instrument rating then but not sure. I would have flown more but I had some life events and some maintenance items to take care of. They have been pretty trouble free 50 hours except for the compass, nav com2, VOR 2, spark plugs, and ignition switch. Next up is a fuel tank reseal. 1 Quote Link to comment Share on other sites More sharing options...
rbridges Posted December 15, 2014 Report Share Posted December 15, 2014 that is awesome. I'm just now passing 200 in the mooney and 350 total. Starr insurance actually rewarded me with a 35% increase last year, so I switched. Quote Link to comment Share on other sites More sharing options...
Mooneymite Posted December 15, 2014 Report Share Posted December 15, 2014 In my experience, the number of maintenance issues will decrease the longer you have it. Taking care of small problems early and owner assisted annuals are key. Congratulations on your first fifty hours! 1 Quote Link to comment Share on other sites More sharing options...
Hank Posted December 15, 2014 Report Share Posted December 15, 2014 My insurance dropped 50% after I flew 100 hours the first year; the initial renewal quote was the same, until I pointed out the hours to them. Instrument Rating saved another ~30% or so, and gave me much greater utility of the plane. Congratulations, and keep up the good work! 1 Quote Link to comment Share on other sites More sharing options...
carusoam Posted December 15, 2014 Report Share Posted December 15, 2014 You earn many congrats for that! Keep learning, it's good for your health.... Cognitive and physical. Best regards, -a- 1 Quote Link to comment Share on other sites More sharing options...
bonal Posted December 15, 2014 Report Share Posted December 15, 2014 Good job! Every year my insurance has gone down with each renewal so make sure to keep your provider up to date with your progress I'm getting closer to 500 with over 150 in my Mooney. 1 Quote Link to comment Share on other sites More sharing options...
ryoder Posted December 16, 2014 Author Report Share Posted December 16, 2014 In my experience, the number of maintenance issues will decrease the longer you have it. Taking care of small problems early and owner assisted annuals are key. Congratulations on your first fifty hours! I already have the owner assisted annual planned out and am looking forward to it. I hope you are right about the maintenance. I have scaled back my plans for any upgrades until I get the maintenance under control. 1 Quote Link to comment Share on other sites More sharing options...
ryoder Posted December 16, 2014 Author Report Share Posted December 16, 2014 My insurance dropped 50% after I flew 100 hours the first year; the initial renewal quote was the same, until I pointed out the hours to them. Instrument Rating saved another ~30% or so, and gave me much greater utility of the plane. Congratulations, and keep up the good work! Wow that is some discount. I hope I get that kind of discount. Quote Link to comment Share on other sites More sharing options...
carusoam Posted December 16, 2014 Report Share Posted December 16, 2014 Use your checklist... Get past your first 100 hours. Save Money... Get IFR rated save and enjoy even more. Best regards, -a- Quote Link to comment Share on other sites More sharing options...
Hank Posted December 16, 2014 Report Share Posted December 16, 2014 Wow that is some discount. I hope I get that kind of discount. My first year (2007) with almost 60 hours and Zero retract was $3100. Next year $1700. Now with Instrument rating and > 500 Mooney hours, it's under $1000. I stay current (night & instrument), participate in Wings and have attended two MAPA PPPs (which count as Wings, Flight Review and IPC). Fly often. Visit every airport within an hours flight of your home field. Every runway is different--some are flat, some slope, some are humpbacked, some are sway backed. I used to eat dinner at an airport built on a reclaimed strip mine, and the runway was like a ski jump; landing downhill, it almost exactly matched my descent on final falling away beneath me, landing uphill I always tried to touch on the almost flat part before it rose up before me, and we won't discuss power settings to taxi 4000' uphill for takeoff. Ya'll have fun, and fly safe! Quote Link to comment Share on other sites More sharing options...
ryoder Posted December 16, 2014 Author Report Share Posted December 16, 2014 Wow 3100 is a lot. I pay 1700 but have just 30k hull damage. Quote Link to comment Share on other sites More sharing options...
Wakeup Posted December 16, 2014 Report Share Posted December 16, 2014 Mine was 1,250 with a total of 160 hours and 70 on a mooney. Let me know of you need my insurance guy. Thanks. Troy 1 Quote Link to comment Share on other sites More sharing options...
Hank Posted December 16, 2014 Report Share Posted December 16, 2014 I'm with Falcon now. Should have changed years ago. Quote Link to comment Share on other sites More sharing options...
gsxrpilot Posted December 16, 2014 Report Share Posted December 16, 2014 I just got back from an hour or so of formation flying and am right at 99 hours in my Mooney. 1 Quote Link to comment Share on other sites More sharing options...
rbridges Posted December 16, 2014 Report Share Posted December 16, 2014 Wow 3100 is a lot. I pay 1700 but have just 30k hull damage. You may be able to go lower. I've kept 55k hull since I purchased it, and I'm right at $980 or so. I think my first year (3-4 years ago) with Starr was around 1300. 100 TT and zero complex. I get 5% discount for a closed hangar and another 5% for the instrument rating. Starr actually went up substantially my third year so I switched. All of these were with zero deductible. I now have a 1K deductible since I won't be filing a claim unless it's several thousand dollars. Quote Link to comment Share on other sites More sharing options...
StinkBug Posted December 19, 2014 Report Share Posted December 19, 2014 Since there's so much discussion about insurance on here I have a question. Is airplane insurance similar to car insurance, where it's basically a monthly thing you can cancel and renegotiate or get a different company at any time, or are you locked in for a full year? Reason I ask is that all the quotes I've gotten are for a year, but I expect to be flying a lot of hours getting my IR in the first few months. I've flown roughly 120 hours in the last 6 months, and expect to do even more in the next 6. It would be nice if I could get insurance now, then renegotiate the rate in a few months when I've racked up some hours rather than having to wait a full year. 1 Quote Link to comment Share on other sites More sharing options...
mike_elliott Posted December 19, 2014 Report Share Posted December 19, 2014 Glad you are getting the time in Ryan. Fly her like you would a fine woman, and she will respond like one. Are you going to Kclw tonight? Quote Link to comment Share on other sites More sharing options...
rbridges Posted December 19, 2014 Report Share Posted December 19, 2014 Insurance is a yearly thing, at least in my experience. I asked about it going down since I was going to get my instrument rating at the time. She told me it wouldn't be considered until next time to apply. Quote Link to comment Share on other sites More sharing options...
carusoam Posted December 19, 2014 Report Share Posted December 19, 2014 SB, Expect things in aviation are not consumer protected like in the general world... Keep both eyes open, read all the lines of every document. Best regards, -a- Quote Link to comment Share on other sites More sharing options...
ryoder Posted December 20, 2014 Author Report Share Posted December 20, 2014 Glad you are getting the time in Ryan. Fly her like you would a fine woman, and she will respond like one. Are you going to Kclw tonight? I am in Boston for the weekend.Glad you are getting the time in Ryan. Fly her like you would a fine woman, and she will respond like one. Are you going to Kclw tonight? Quote Link to comment Share on other sites More sharing options...
carusoam Posted December 21, 2014 Report Share Posted December 21, 2014 Get the Chowda an a Lobsta while you're up Thea... Rrrrr, -a- 1 Quote Link to comment Share on other sites More sharing options...
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