Parker_Woodruff

12 years is a frequent engine overhaul suggested interval from engine manufacturers, as is 2000 hours.

Another really important thing to remember is you typically insure a hangar for replacement cost. The roof, depending on the company, might have a surfaces endorsement that makes the roof covered at actual cash value. What you don’t want is a $65K hangar insured for $65K that costs $100K to rebuild. What you also don’t want is to insure a Hangar for $150K that would cost $100K to rebuild, especially in the wind/hail states with with percentage-based deductibles for those perils. Now you’ve got an inflated deductible and don’t need anywhere near that amount to replace the building. Plan to insure a simple GA hangar today for somewhere in the $50-100 sq ft range. I typically try to argue to the lower side of that range.

Yep

You can call us at 214-295-5055. I’m out until Monday - press 3 for Mary and she’ll get you quoted. Or email us at Parker@airspeedinsurance.com or Mary@ airspeedinsurance.com

Insurance for the structure should be inexpensive in WI, but you'll want general liability coverage added onto that policy since you'd be leasing space to someone. Budget hangar insurance at $1000 for the structure (will probably be closer to $700) and $400 for general liability. If you will be moving the other aircraft or otherwise have care, custody, and control of it from time to time, you'll want hangarkeeper's coverage, too.

Search "Reid" on this page. He's under Texas and under Traveling CFIs https://themooneyflyer.com/cfi.html

Geoff Reid - Acclaim owner (and former M20K owner)

Thanks, but unfortunately not actively flying. I would contact @Geoff in Houston!

This could be a really unique product for an agency that does other lines of business other than aircraft to offer. The biggest issue is getting a pool of aircraft owners together that would also place their home & auto coverages with the same agency and then getting a company that does aviation and those personal lines to participate. In many cases, we've been pushing $1MM/$200K liability limits on aircraft with good success. In most cases it's $70-200 or so additional premium annually. That $1MM/$100K ("baseline" as I like to call it), hasn't moved in light of inflation in who knows how long. Sometimes it's not much more to get to $1MM Smooth...and sometimes it's a lot more. A lot depends on the pilot & aircraft combination.

$2MM Smooth, plus excess from another carrier, which, depending on underwriting info, may offer $1-$5MM excess...

sorry @toto...you scored the weekend I was setting up a replacement computer and getting a house ready for sale. Most insurance companies are fine if the pilot is FAA legal, unless they've inserted a specific requirement, such as those that require annual medical certificates for pilots who have reached a certain age, like 75+.

Don, I enjoyed our flying in N231AT...especially the flight to Florida a couple/few years ago.

I owned N19NS which was an Embry Riddle trainer and held a different tail number during that time. The logbooks were a mile long of handwritten entries. The places that serviced it never made much/any note of high-hours issues... But ERAU certainly took great care of it, and so did the subsequent owner or owners. I purchased with around 6900 hours and sold with around 7200.

This reminds me of the people who get an insurance policy for whatever reason (maybe so they can give proof of insurance to an airport authority) and then never pay. Guess who gets to pay for the days of insurance coverage that accrued and the time to try and collect? Me. In the Walmart example, the costs are passed onto the vendors, consumers, and/or to the shareholders...regular people with 401(k)s, Roth IRAs, etc. There's no such thing as a free lunch.

And the discussion right now is centered on becoming ineligible to fly upon reaching one's 67th birthday.