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Any advice in acquiring insurance for my new to me (if I buy it, still thinking) M20F? I’ve owned two aircraft previously but this will be my first retractable. I expect to be scalped, but more concerned about the amount of dual they will require. Is there a strategy? Thanks!

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1 minute ago, Randy A said:

Any advice in acquiring insurance for my new to me (if I buy it, still thinking) M20F? I’ve owned two aircraft previously but this will be my first retractable. I expect to be scalped, but more concerned about the amount of dual they will require. Is there a strategy? Thanks!

I would say shop around.  I have heard (on this site) anywhere from a checkout ride to 10 hours dual and 10 solo.  A lot depends on experience and the underwriter. 

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40 minutes ago, ragedracer1977 said:

I had 80 hrs TT, zero in a Mooney.  They wanted 5 with an instructor and 5 solo.  Insurance was about $1500 annual.  Waiting to see how this years turns out.  260 TT, 180 in a Mooney and also earned my instrument rating

I'd wager you get a 50% cut. The retract time and IFR will make the difference.

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First year costs an extra amu, than Second year...

No mooney time, expect 10 hrs dual, 10hrs solo...

Expect lots of variations on this theme.

 

Fot your own requirements, select a good Transition Trainer to show you all the ropes efficiently...

PP thoughts only not a CFI...

Best regards,

-a-

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Flew my C home from Texas two weeks ago.  Had 200 hrs TT 10 hrs retract 0 hrs Mooney.  Got a few quotes...two required 5 dual and 5 solo.  The cheapest and the one I went with required only a checkout (got signed off in 3 hrs) and 10 hours in type before passengers.  I got the checkout and have flown it 13 hours since then.  It was Falcon that I went with...they are a broker the actual company is Global Aerospace.  I also got the same quote through AOPA but the person at Falcon was more responsive. $1,900 for the year.

Edited by Kmac
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Purchased my M20F this year with an 80k hull value.  I am a CFI in Rotary Wing and Fixed wing with probably around 1200 hours.  0 hours in Mooney at purchase.  

My experience may differ from others, but I could never get Falcon to respond to calls in a timely manner.  I found an insurance broker who is a joy to work with and always super responsive day or night.  My insurance is through QBE and my yearly cost is $1400 - but I only deal with my broker when I need something. 

 

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I just renewed.  $1200 with a $95K hull value.   IFR, around 100 hours a year, 400 or so in Mooneys, around 600 in airplanes.  Had a not in motion hail claim from 2.5 years ago.  I went through AOPA and Global Aerospace.

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I had to leave Falcon to get a good renewal rate 2 months ago.

$900 premium for $95k hull, no deductible. (I have IR and over 3000 retractable, over 2750 hours in make and model but with a gear up claim from 8/14 that Falcon's underwriters were all still factoring in.)

Shop around, It's supposed to be a good market, at least for higher time pilots.

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It will creep down a bit as time goes on.  Go fly some retracts now before you get your plane it will help on the insurance.   Go for the maximum amount of hull insurance you can reasonably  get without being too over insured.  You want to make sure a small thing doesn't total your plane especially if an older model.

 

 

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2 hours ago, M20Doc said:

You guys are killing me with your low rates.  $3200/ years @ $200,000 Hull.

Clarence

Nothing you don't already know but hull value is where its at.  I pay about 1/3 what you pay but my hull is insured for about 1/3 of yours as well. 

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You guys are killing me with your low rates.  $3200/ years @ $200,000 Hull.
Clarence
You have maybe four times the hull value of a C. The other thing I don't see is the amount of liability people are carrying. That can make a big difference in the cost.



Sent from my SM-G950U using Tapatalk

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