atrosa Posted April 14, 2020 Report Posted April 14, 2020 I'm a student pilot that hasn't soloed but was getting close where my CFI said to get the medical and written done soon. The C172 is fine but I really want my own plane to train in. I'm just trying to get all my costs estimated in my spreadsheet and I was wondering how much does the tribe estimate a 50K Pre -J Mooney would be to insure? is 2,000 a good esitmate? -Tony Quote
ShuRugal Posted April 14, 2020 Report Posted April 14, 2020 I'm a student pilot that hasn't soloed but was getting close where my CFI said to get the medical and written done soon. The C172 is fine but I really want my own plane to train in. I'm just trying to get all my costs estimated in my spreadsheet and I was wondering how much does the tribe estimate a 50K Pre -J Mooney would be to insure? is 2,000 a good esitmate? -Tony I think I pay 1,800 for full coverage with no deductable on my C with the hull value listed as $42,500.Which reminds me, I need to give my insurance a call and find out what I could get for some deductable on that.... Quote
atrosa Posted April 14, 2020 Author Report Posted April 14, 2020 1800 while you were a student pilot or a 20,000 hour IFR ATP god? Quote
ShuRugal Posted April 14, 2020 Report Posted April 14, 2020 1800 while you were a student pilot or a 20,000 hour IFR ATP god? 2,200 as a Sport Pilot working towards Private, 1800 the following year, having achieved it. Quote
dzeleski Posted April 14, 2020 Report Posted April 14, 2020 At 78 hours post PPL a ~100k M20J cost me roughly $3,500. Id guess that $2,000 would be a pretty close estimate if you had your PPL Quote
atrosa Posted April 14, 2020 Author Report Posted April 14, 2020 (edited) Ok so my fixed monthly cost, no prop turning is in rough numbers 200 insurance 200 annual budget 325 hanger So about 700 per month with $100 per hour variable cost. I will start with 30k in reserve so i always have money for the unexpected. Edited April 14, 2020 by atrosa typos plenty of typos :) bad math too Quote
MIm20c Posted April 14, 2020 Report Posted April 14, 2020 I think with recent increases in insurance premiums I’d budget at least 2.5k+ for the first year. Quote
Shadrach Posted April 15, 2020 Report Posted April 15, 2020 With 225hrsTT and 10 in type my insurance was $1500 back in 2004. It's under $1000 now with a hull value of $60K. For training I would expect a significant premium. Try these guys...no financial interest. https://air-pros.com 1 Quote
Hank Posted April 15, 2020 Report Posted April 15, 2020 @Parker_Woodruff, need a dose of reality here. My C was $3100 my first year, 62 hours in Skyhawks and my PPL. For a student pilot, I would expect more . . . Also, a 50K J-model will need work . . . . . Quote
Parker_Woodruff Posted April 15, 2020 Report Posted April 15, 2020 3 minutes ago, Hank said: @Parker_Woodruff, need a dose of reality here. My C was $3100 my first year, 62 hours in Skyhawks and my PPL. For a student pilot, I would expect more . . . Also, a 50K J-model will need work . . . . . This is going to push $3000-$4,000 based on what I've seen lately. But I'm happy to get a formal quote for the OP. @atrosa, feel free to call for a quote. Parker Parker@airspeedinsurance.com 214-295-5055 4 Quote
Ragsf15e Posted April 15, 2020 Report Posted April 15, 2020 Will they even insure a student to train in a Mooney right now? Your costs look close, however you’re probably gonna need to bump the monthly allotment for annual maintenance at least to $300 if not $400. If you can do owner assist, you might get by with $1000 annual, if you’re paying an experienced IA, probably looking at $2500+ without fixing any squawks. My F has been $4000-$13000. Just depends on what the squawks are. Quote
Matt_AZ Posted April 15, 2020 Report Posted April 15, 2020 I’ve been here on Mooneyspace everyday for the past year and finally have a topic I know something about that I can reply to. I bought my M20C almost a year ago as a student pilot with about 14 hours in a Cessna. My first year was around $3500. I just passed my check ride yesterday & was able to get that reduced through Parker. I think Parker is right on the money with his estimate of 3-4K. Luckily he was able to find me a new policy now that I have 100+ hours in my Mooney & my PPL. It’s definitely expensive for the first year as a student pilot in a Mooney. 6 1 Quote
carusoam Posted April 15, 2020 Report Posted April 15, 2020 First years are tough... expect 1amu more than the next... second years don’t get really inexpensive... 2amu is about normal... So... I used some round numbers... the cost of the plane doesn’t really move the needle as much as one expects... The cost of the four people riding inside it makes the machine cost, a drop in the ocean... +1 on the medical... The sooner the better... it can up-end ordinary plans. That is why CFIs say it... many people go through the experience... there are expensive, timely or other pains to go through if heading this direction... +1 on the written... it is related to the flying... the more you know the better you understand the flying part... sure, there is some outdated stuff in there... memorize it, chuckle... shrug it off... focus on the important parts... PP thoughts only, not a CFI... best regards, -a- Quote
MikeOH Posted April 15, 2020 Report Posted April 15, 2020 13 minutes ago, Ragsf15e said: Will they even insure a student to train in a Mooney right now? Your costs look close, however you’re probably gonna need to bump the monthly allotment for annual maintenance at least to $300 if not $400. If you can do owner assist, you might get by with $1000 annual, if you’re paying an experienced IA, probably looking at $2500+ without fixing any squawks. My F has been $4000-$13000. Just depends on what the squawks are. $2500 for basic inspection is spot on! My F has run between $3000 - $5,000 including repairs. Quote
carusoam Posted April 15, 2020 Report Posted April 15, 2020 Hey... Congrats, Matt! Best regards, -a- 1 Quote
MikeOH Posted April 15, 2020 Report Posted April 15, 2020 Just noticed you don't have your medical. Do NOT delay this, and do NOT show up for your medical with ANY history that you do not FULLY understand what the AVIATION ramifications are. Especially a DUI or psychiatric visit. High blood pressure, diabetes, any ER visits, ... These things CAN be dealt with, but you don't want to find that out when you apply for your medical as you can't "back out" after starting the exam...and then the clock is ticking and you can end up with a denial. Quote
Shadrach Posted April 15, 2020 Report Posted April 15, 2020 15 hours ago, Ragsf15e said: Will they even insure a student to train in a Mooney right now? Your costs look close, however you’re probably gonna need to bump the monthly allotment for annual maintenance at least to $300 if not $400. If you can do owner assist, you might get by with $1000 annual, if you’re paying an experienced IA, probably looking at $2500+ without fixing any squawks. My F has been $4000-$13000. Just depends on what the squawks are. I think he was budgeting for known expenses. There is no way to know what the annual mx outlay will be. $1200 for an annual inspection (no repairs) is still possible in many parts of the country. It's not a very complicated airframe. 12-15hrs should be adequate for the inspection. I agree that $250 a month for mx won't keep a bird in the air over the long haul much less $100... Quote
atrosa Posted April 15, 2020 Author Report Posted April 15, 2020 21 hours ago, Parker_Woodruff said: This is going to push $3000-$4,000 based on what I've seen lately. But I'm happy to get a formal quote for the OP. @atrosa, feel free to call for a quote. Parker Parker@airspeedinsurance.com 214-295-5055 Yikes! Might need to buy a cherokee until i log some hours and get my IFR. Quote
atrosa Posted April 15, 2020 Author Report Posted April 15, 2020 3 hours ago, Shadrach said: I think he was budgeting for known expenses. There is no way to know what the annual mx outlay will be. $1200 for an annual inspection (no repairs) is still possible in many parts of the country. It's not a very complicated airframe. 12-15hrs should be adequate for the inspection. I agree that $250 a month for mx won't keep a bird in the air over the long haul much less $100... Yeah my annual 2400 budget is just for a no squawk annual. I will set aside 30k for the items i didn't think of. If i burn throught the 30k quickly i will start to reasses my hobby choice. Also if i don't flt as much as i would like to 50 hours or more a year i will sell the plane. I will not be one of those guys at the airport where the hangar door never opens. I will pass along the plane to someone who will fly it. 1 Quote
Shadrach Posted April 16, 2020 Report Posted April 16, 2020 (edited) 12 hours ago, atrosa said: Yeah my annual 2400 budget is just for a no squawk annual. I will set aside 30k for the items i didn't think of. If i burn throught the 30k quickly i will start to reasses my hobby choice. Also if i don't flt as much as i would like to 50 hours or more a year i will sell the plane. I will not be one of those guys at the airport where the hangar door never opens. I will pass along the plane to someone who will fly it. Some years 50 hrs eludes me but it’s about my average. Having a partner helps a lot. Edited April 16, 2020 by Shadrach Quote
Browncbr1 Posted April 16, 2020 Report Posted April 16, 2020 (edited) I got my private in my F model with $45k hull at the time. It was before all the insurance craziness following recession when insurance companies were more being more competitive.. I remember paying ~$2300 for that first year with Star. No other companies would bite.. now days, I’d expect closer to $3-4k on that same hull value if any companies would even quote it. A while ago, there was a guy on here who couldn’t even get a quote. Edited April 16, 2020 by Browncbr1 Quote
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