Parker_Woodruff

Liability coverage and ground not in motion coverage is pretty cheap. Many times the liability coverage on an aircraft will extend to cover the premises where the aircraft is normally stored and sometimes where the aircraft is presently located. In that case, you may not need a premises liability policy for your hangar. Some people carry both.

Maybe but have a couple people that might be going...sounds like a rough trip...

If anyone is flying down from the Dallas area, let me know. Happy to split gas.

Working on hitching a ride...I'll be there one way or another.

I should be there

I would do 60 wide. typically Gives you more options for a lessee and makes it easier to get the other airplane out of the hangar. As far as hangar insurance, feel free to give me a call. I'm in Dallas. Which airpark are you at?

The insurance company is signing up for a year based on the information at the time the policy goes into effect. Otherwise it would be a perpetual game of calling up the agent to call up the underwriter anytime a pilot added an extra hour of experience. Or worse, a client adding and deleting flight coverage on each day he wants to fly. the same happens in auto insurance, actually. If I had an accident on May 1, 2014 and my policy renews on April 15, 2019, their 5-year lookback on loss history is still going to affect my rates (higher premium) from April 15 to October 15 even though 5.5 months of the policy period is outside of the loss history date range that underwriting uses.

Always happy to give a look at your insurance policy if any questions. You most likely won't have any trouble being covered, but your agent has your policy language and can confirm that.

Let us know if anyone gets pricing on these.

One reason - a lower hull value aircraft is more likely a total loss in the event of a loss.

Newer airplanes are sometimes cheaper to insure per $ insured. Lower Hull Value airplanes are normally more expensive to insure per $ insured. same pilot might insure a $150K M20R for 1% of Hull Value whereas a $50K M20E might be 1.5% of Hull.

https://www.ainonline.com/aviation-news/general-aviation/2019-03-27/bendixking-deepens-partnerships-avionics-oems White-label rebrand deal...

I was in a C182 with it camped in a hangar at TLH before this hit. It was a complete beating of a trip home after that. Both headwind and turbulence...

Let me know if we can help with your transportation after show hours. We’ll have a car We are staying at the Suburban Extended Stay in north Lakeland. I lived there for 94 days in 2011 and it was fine. Not sure how it is now...but it’s cheap.

I'll go counter to all this and say the degree is optional. The regionals don't require one these days and I expect to see a lot of people upgrading through the majors that don't have them. It's definitely helpful if it can be afforded, but there is a lot of opportunity out there even without a degree. If he goes for the degree, make sure it's one that'll be worth the investment.

I've been once in 2012...hopefully will get to go again soon!

Fellow MooneySpacers - Who all is going? Airspeed Insurance Agency (My wife and I) will be exhibiting in Hangar A at Sun 'n Fun. Booth A-046. We look forward to meeting each of you that is attending this year! Blue Skies! Parker and Hope

I'll send you a PM

They will typically use one or an average of the salvage values when giving you a buyback option. They'd prefer just to settle with you as there is more expense in selling it to someone else.

Hull values have been discussed on this forum many times, so I've put together a post detailing hull value strategy when talking to your insurance agent. Unlike most standard automotive policies, almost all aviation insurance companies insure aircraft physical damage using Agreed Values. That is, the Insured and the Company agree to a value that the aircraft is worth in the event of a total loss. But what should you choose for an agreed value of your Mooney? The short answer: Insure your aircraft for a value at which you could replace your plane with one of like kind and quality. The long answer is a bit more thoughtful: Insurance companies will agree to a wide range of aircraft values. This is typically in the range of Blue Book value +/- 25%-50% depending on the age and type of the aircraft. And that Blue Book Value can take into account the engine hours, equipment, and condition of the aircraft if the owner provides hull value justification to the insurance company. A quick look through the aircraft classifieds can give you a starting range of what to consider for your aircraft's hull value. Try to find the most similar aircraft to yours and make adjustments based on condition, equipment, and airframe & engine hours. You may find, however, that you have a very uniquely modified airplane with much more investment than you can find of similar aircraft in the classified ads. So what should you do? Still, find the closest example to what you have and figure the cost to modify the plane to what you currently have. A word on under-insuring: If you own an unmodified aircraft that could sell tomorrow for $50,000 and only insure it for $35,000 because that's what you paid 10 years ago, you could find yourself in an unfortunate situation in the event of an occurrence - let's say a nosegear collapse. The insurance company gets your claim and assigns an adjuster. He surveys the damage and discovers you're looking at a $10,000 engine teardown, an $8,000 propeller, and $6,000 of other minor damage. All-in, it's $24,000 in damage. You have a $0 deductible. Knowing that the aircraft has decent salvage value, the adjuster requests bids from aircraft salvage companies. Three salvage companies offer $12,000, $14,500, and $13,200. Insured Value - Salvage Bid = max the company will pay to fix your airplane (in most cases) As you can see from the above example, the insurance company would lose less money by selling the aircraft for salvage. But they would first likely offer to pay you a Total Loss and you buy the salvage back from them. In light of this example, be sure to re-evaluate your hull values every year for changing market conditions. Now the owner has a $35,000 check in hand but discovers all the planes of like kind and quality cost about $50,000. A word on over-insuring: You sold your business in 2004 and called up Mooney to order a new 2004 Mooney M20R with a purchase price of $500,000. All these years you keep the hull value the same. While on vacation in Florida, a tornado rips through the airport and throws two airplanes on top of your Mooney. The propeller has been struck, all the glass is broken. You've got dents and tears all over the skin. You're looking at a $180,000 repair bill on an aircraft that's worth about $250,000. Salvage bids are in the $70,000 range. It's not a total loss. Now you have an airplane that's special to you, but that no one would want to buy from you. If you'd insured it for $250,000, the insurance company would have written you a check and taken your plane. But insured for $500,000, they can make a lot of repairs. They have no interest in paying you $500,000 for an airplane which is only worth $70,000 to them (net loss of $430,000 plus their expenses). Even if the repairs went over the estimates and it cost them $250,000, they are still much better off! Feel free to ask any questions or give me a call at 214-295-5055 if you wish to discuss your insured value. In dealing with Airspeed Insurance Agency, you'll be talking to an insurance agent who has also owned a few aircraft. Blue Skies!

The rule of thumb is to insure your aircraft for a value at which you could replace it with one of like kind and quality. Discuss with an insurance agent who has owned planes and they'll help you fine-tune the agreed value to request. BTW - Picking nits, but there is a big difference between stated value and agreed value. Fortunately, Stated Value is typically not found in aviation insurance.

Great work!!

For the headwinds you've experienced, I hope you have excellent tailwinds on the return flight!

Always nice to meet the folks behind the keyboard

Should have thought to call you up to join us.