Insurance

[Randy A]

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!

[kpaul]

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. 

[ragedracer1977]

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

[RLCarter]

Try Falcon Ins. they gave a buddy his best deal, I'm going over to them in the near future, @ragedracer1977 the IR helps a bunch on ins along with the hours

[gsxrpilot]

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.

[carusoam]

 

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-

[skydvrboy]

I used Falcon based on a recommendation from my CFI for my M20F.  I had around 100 hrs all in a Warrior.  Cost was $1500/yr and they required 10/10 dual/solo insured through Starr, FWIW.

[Kmac]

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 April 3, 2018 by Kmac
addition

[DualRatedFlyer]

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. 

 

[chrisk]

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.

[Bob_Belville]

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.

[neilpilot]

36 minutes ago, Bob_Belville said:

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

Yes, but I very recently read that the market is about to turn and expect higher premiums very soon.

[Bartman]

Renewed today thru AOPA/Global Aerospace.  $95K Hull, No  deductible, Instrument Rated, little over 1,000hrs in this Mooney, no claims, no violations.

$1,065

[1964-M20E]

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.

 

 

[KLRDMD]

4 hours ago, neilpilot said:

Yes, but I very recently read that the market is about to turn and expect higher premiums very soon.

Already has :-(

[LANCECASPER]

12 hours ago, DualRatedFlyer said:

I found an insurance broker who is a joy to work with and always super responsive day or night. 

Who is your new broker?

[Guest]

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

Clarence

[1964-M20E]

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. 

[mike_elliott]

2 hours ago, M20Doc said:

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

Clarence

But Clarence, that Canadian $$ 

(Let me know if you and Stewie are coming to SNF)

[Wayne Cease]

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.



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[DualRatedFlyer]

7 hours ago, LANCECASPER said:

Who is your new broker?

Shannon D. Guidry

Manager/Agent

Mid-Continent Aircraft Corp.

Louisiana Insurance Division

P.O. Box 187, Estherwood, LA 70534

(800)280-2884 Toll Free

(337)783-7366 Phone

(337)783-5526 Fax

(337)224-0782 Cell

[Bob_Belville]

29 minutes ago, mike_elliott said:

But Clarence, that Canadian $$ 

(Let me know if you and Stewie are coming to SNF)

Yeah, but I suppose  the 200k hull value is CAD also...

[steingar]

Says me get ready to bend over and take it like a man.

[J0nathan225]

I'm getting quotes of 2350 for a M20E. I only have 50 F/W hours no complex, they apparently don't care about 700 R/W hours the slightest. 5/5 for checkout. Maybe AOPA comes back with something lower. 

[MB65E]

Nice to see all of these new acquisitions!!

Try Falcon.

-Matt