ryoder Posted July 8, 2015 Report Posted July 8, 2015 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. 4 Quote
Houman Posted July 8, 2015 Report Posted July 8, 2015 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. Quote
Jerry 5TJ Posted July 8, 2015 Report Posted July 8, 2015 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. Quote
N601RX Posted July 8, 2015 Report Posted July 8, 2015 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. Quote
DXB Posted July 8, 2015 Report Posted July 8, 2015 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? Quote
StinkBug Posted July 8, 2015 Report Posted July 8, 2015 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 $1600 for the year. As of today I'm about 300 hours, Instrument rated and should have my CPL by the end of the month. By next January the numbers should be looking pretty good. Quote
ryoder Posted July 8, 2015 Author Report Posted July 8, 2015 AIG is my new underwriter through AOPA. Quote
ryoder Posted July 8, 2015 Author Report Posted July 8, 2015 Same here, I was a 135h pilot before getting the rocket and paid 4600$ 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. Quote
Shadrach Posted July 9, 2015 Report Posted July 9, 2015 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 Quote
Houman Posted July 9, 2015 Report Posted July 9, 2015 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.. Quote
Shadrach Posted July 9, 2015 Report Posted July 9, 2015 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. Quote
22 others Posted July 9, 2015 Report Posted July 9, 2015 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? Quote
N601RX Posted July 9, 2015 Report Posted July 9, 2015 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. Quote
Hank Posted July 9, 2015 Report Posted July 9, 2015 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. Quote
Guest Posted July 10, 2015 Report Posted July 10, 2015 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 Quote
Houman Posted July 10, 2015 Report Posted July 10, 2015 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 ??? Quote
ryoder Posted July 10, 2015 Author Report Posted July 10, 2015 Correction my new policy is 1099 and the old one was 1600. Quote
Parker_Woodruff Posted July 10, 2015 Report Posted July 10, 2015 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. Quote
Conrad Posted July 10, 2015 Report Posted July 10, 2015 Falcon got me 1800ish for 47k hull 1m/100k as a 12 hour student pilot. Someone sure must like the Mooney safety records. Quote
22 others Posted July 10, 2015 Report Posted July 10, 2015 Thanks for all the advice. I'll suck it up and pay the lady. Quote
Zwaustin Posted July 19, 2015 Report Posted July 19, 2015 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. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.