Insurance went from 1700 to 1000 after 95 hours

[ryoder]

I bought my C last July as a 72 hour private pilot and paid 1700 and change for 30k hull damage and high liability limits. I haven't finished instrument training yet but am now paying just over 1000 for the same coverage. Very happy about this. That will pay for my annual.

[Houman]

Same here, I was a 135h pilot before getting the rocket and paid 4600$ for 150K coverage on it. Just renewed after 85h on it and pursuing my IFR. The price went to 3200$... pretty sizable drop and happy about that.

[Jerry 5TJ]

You might consider using some of that cost reduction to increase your liability limits and/or move to single-limit AKA 'smooth' coverage:   $1M smooth is likely available to you now that you've successfully operated your M20C for a year.

[N601RX]

You might consider using some of that cost reduction to increase your liability limits and/or move to single-limit AKA 'smooth' coverage:   $1M smooth is likely available to you now that you've successfully operated your M20C for a year.

That,s exactly what I did after the 1st year.  With 105hrs mm I was able to get 1M Smooth coverage with the underwriter I was currently with.  The other underwriters declined to quote it.  It only cost $300 year more than 100,000K sublimits.  If your taking any passengers along its something that needs to be considered.  Even if its a family member or good friend who you don't think would sue their health or life insurance company can to recoup their loss.

[DXB]

I bought my C last July as a 72 hour private pilot and paid 1700 and change for 30k hull damage and high liability limits. I haven't finished instrument training yet but am now paying just over 1000 for the same coverage. Very happy about this. That will pay for my annual. 

This is good to hear.  I paid 2100 when I bought my C model 7 months ago, hull valued at 46k, when I  was still a student pilot and two weeks away from my checkride. Now I'm near 150hrs and have >60 hrs in the plane, 50 of them as PIC.  Hopefully the drop when I renew in December will more than offset the increase related to added value from my panel job slated for next month. Do you also use Falcon?

[StinkBug]

I'm looking forward to what mine will be next year. I bought my C in January with ~120hrs total time and only 20 retract, none Mooney. Paid around $1600 for the year. As of today I'm about 300 hours, Instrument rated and should have my CPL by the end of the month. By next January the numbers should be looking pretty good. 

[ryoder]

AIG is my new underwriter through AOPA.

[ryoder]

Same here, I was a 135h pilot before getting the rocket and paid 4600$ for 150K coverage on it. Just renewed after 85h on it and pursuing my IFR. The price went to 3200$... pretty sizable drop and happy about that.

Holy shit.

[Shadrach]

I have been using the guys for years.  Great rates, great service. No financial interest on my end. They are based in FDK just like AOPA.  

 

http://www.air-pros.com

[Houman]

Holy shit.

Well I'm in Canada, so not sure if insurance is cheaper is the states, also, haul coverage of 150K for a complexe airplane with a pilot that had 0 hours on complexe or retractable. Out of all insurance providers, I had only 1 that was willing to insure me, so had no choice, this year, it was much easier and hopefully it will keep dropping next year..

[Shadrach]

3 times the hull coverage makes a difference.

Still cheaper than a green pilot in a Cirrus. I've heard of more than one that paid $4500 plus until they had 100hrs in type.

[22 others]

So I just got an insurance quote back after my first year of Mooney ownership. 

 

My first year's insurance was:   1m/100k, I had 80 hours total time.  zero retract time.  $1160    I thought that was pretty darn good.

 

My second year quote just came back. I flew just over 100 Mooney hours.  same coverage......  $1147.

 

I thought it was supposed to drop after 100 hours in type??? What gives?

[N601RX]

You need to ask your agent for copies of the quotes from all the underwriters and make sure he is really shopping your policy around.

[Hank]

So I just got an insurance quote back after my first year of Mooney ownership. 

 

My first year's insurance was:   1m/100k, I had 80 hours total time.  zero retract time.  $1160    I thought that was pretty darn good.

 

My second year quote just came back. I flew just over 100 Mooney hours.  same coverage......  $1147.

 

I thought it was supposed to drop after 100 hours in type??? What gives?

They did the same to me at my first renewal. So on the phone, I pointed out my Total Time in Type, and they said something to the effect of "oops!" Got a requote for almost half off.

It never hurts to speak up and ask questions, they will certainly not raise the quote because you bothered them.

[Guest]

If you think fixed with insurance is expensive, try rotary wing. A client of mine paid almost 15K for his R44 for his first year.

Clarence

[Houman]

If you think fixed with insurance is expensive, try rotary wing. A client of mine paid almost 15K for his R44 for his first year.

Clarence

How much was the value insured, I guess an R44 in good shape runs into the 300k to 500K, right ???

[ryoder]

Correction my new policy is 1099 and the old one was 1600.

[Parker_Woodruff]

So I just got an insurance quote back after my first year of Mooney ownership. 

 

My first year's insurance was:   1m/100k, I had 80 hours total time.  zero retract time.  $1160    I thought that was pretty darn good.

 

My second year quote just came back. I flew just over 100 Mooney hours.  same coverage......  $1147.

 

I thought it was supposed to drop after 100 hours in type??? What gives?

 

I'm not surprised with your second year quote.  That is right in line.  I am surprised at how cheap your first year was with no RG time and no MM time.

 

I've been a broker and am now an underwriter.

[Conrad]

Falcon got me 1800ish for 47k hull 1m/100k as a 12 hour student pilot. Someone sure must like the Mooney safety records.

[22 others]

Thanks for all the advice. I'll suck it up and pay the lady.

[Zwaustin]

I had 180 hours tt and Instrument rating when I got the plane. Insurance on 79 m20k 231 was 2100 bucks through aopa. Hopefully it will drop after this year.